Parallel Advisors LLC Has $3 Million Position in Hormel Foods Co. (NYSE:HRL)

Parallel Advisors LLC reduced its stake in shares of Hormel Foods Co. (NYSE:HRL) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 95,587 shares of the company’s stock after selling 5,698 shares during the quarter. Parallel Advisors LLC’s holdings in Hormel Foods were worth $2,999,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. Greenleaf Trust boosted its holdings in shares of Hormel Foods by 4.4% during the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock worth $252,000 after purchasing an additional 336 shares during the period. CFS Investment Advisory Services LLC raised its position in Hormel Foods by 2.8% during the fourth 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 raised its position in Hormel Foods by 4.0% during the fourth 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 raised its position in Hormel Foods by 6.2% during the fourth 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 raised its position in Hormel Foods by 4.8% during the third 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 currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently weighed in on HRL shares. Stephens reaffirmed an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Citigroup cut their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and a consensus target price of $31.80.

Hormel Foods Trading Up 1.6 %

NYSE:HRL opened at $30.01 on Tuesday. Hormel Foods Co. has a 12 month low of $27.59 and a 12 month high of $36.86. The firm has a market cap of $16.50 billion, a price-to-earnings ratio of 20.55, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $29.58 and its 200-day moving average is $30.82.

Hormel Foods 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.