Blueshift Asset Management LLC Invests $264,000 in Hormel Foods Co. (NYSE:HRL)

Blueshift Asset Management LLC purchased a new stake in Hormel Foods Co. (NYSE:HRL) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 8,431 shares of the company’s stock, valued at approximately $264,000.

A number of other large investors have also made changes to their positions in HRL. Natixis Advisors LLC increased its holdings in shares of Hormel Foods by 11.2% in the third quarter. Natixis Advisors LLC now owns 66,581 shares of the company’s stock worth $2,111,000 after acquiring an additional 6,710 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Hormel Foods during the 3rd quarter worth approximately $2,177,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods during the 3rd quarter worth approximately $39,000. Charles Schwab Investment Management Inc. lifted its stake in Hormel Foods by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,846,936 shares of the company’s stock valued at $58,548,000 after buying an additional 66,261 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its holdings in shares of Hormel Foods by 20.8% in the third quarter. Raymond James Trust N.A. now owns 18,788 shares of the company’s stock valued at $596,000 after buying an additional 3,236 shares during the period. Institutional investors own 40.99% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the topic of several research reports. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.80.

Hormel Foods Stock Performance

Shares of HRL stock opened at $30.04 on Friday. The firm has a market cap of $16.52 billion, a PE ratio of 20.57, a P/E/G ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The company’s fifty day simple moving average is $29.54 and its 200-day simple moving average is $30.77. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.