Commonwealth Equity Services LLC Sells 5,609 Shares of Hormel Foods Co. (NYSE:HRL)

Commonwealth Equity Services LLC reduced its position in shares of Hormel Foods Co. (NYSE:HRL) by 2.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 200,671 shares of the company’s stock after selling 5,609 shares during the period. Commonwealth Equity Services LLC’s holdings in Hormel Foods were worth $6,295,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust lifted its holdings in Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after purchasing an additional 336 shares during the last quarter. CFS Investment Advisory Services LLC increased its position in Hormel Foods by 2.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock valued at $422,000 after acquiring an additional 360 shares in the last quarter. Empower Advisory Group LLC increased its position in Hormel Foods by 4.0% in the 4th quarter. Empower Advisory Group LLC now owns 10,038 shares of the company’s stock valued at $315,000 after acquiring an additional 389 shares in the last quarter. New Century Financial Group LLC increased its position in Hormel Foods by 6.2% in the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock valued at $211,000 after acquiring an additional 392 shares in the last quarter. Finally, MML Investors Services LLC increased its position in Hormel Foods by 4.8% in the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after acquiring an additional 416 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Up 1.2 %

Shares of NYSE:HRL opened at $30.04 on Friday. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The company has a 50 day moving average of $29.54 and a 200-day moving average of $30.77. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The stock has a market cap of $16.52 billion, a price-to-earnings ratio of 20.57, a P/E/G ratio of 2.73 and a beta of 0.21.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Stephens restated 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 shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $31.80.

About Hormel Foods

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.