Intech Investment Management LLC Decreases Holdings in Hormel Foods Co. (NYSE:HRL)

Intech Investment Management LLC cut its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 18.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 145,181 shares of the company’s stock after selling 31,784 shares during the quarter. Intech Investment Management LLC’s holdings in Hormel Foods were worth $4,554,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after acquiring an additional 1,175,087 shares during the period. Holocene Advisors LP grew its stake in shares of Hormel Foods by 56.0% during the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after acquiring an additional 802,816 shares during the period. State Street Corp grew its stake in shares of Hormel Foods by 2.5% during the 3rd quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after acquiring an additional 617,308 shares during the period. Van ECK Associates Corp bought a new position in shares of Hormel Foods during the 4th quarter worth $16,612,000. Finally, Vest Financial LLC grew its stake in shares of Hormel Foods by 17.0% during the 4th quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock worth $57,271,000 after acquiring an additional 264,813 shares during the period. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Hormel Foods Stock Down 0.2 %

Shares of NYSE HRL opened at $29.91 on Wednesday. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86. The business has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $30.80. 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 has a market cap of $16.45 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.73 and a beta of 0.21.

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.