Hormel Foods Co. (NYSE:HRL) Shares Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. lifted its position in shares of Hormel Foods Co. (NYSE:HRL) by 24.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 114,995 shares of the company’s stock after acquiring an additional 22,839 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Hormel Foods were worth $3,607,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. lifted its holdings in Hormel Foods by 10.4% in the fourth quarter. D.A. Davidson & CO. now owns 9,905 shares of the company’s stock valued at $311,000 after acquiring an additional 934 shares during the period. US Bancorp DE boosted its holdings in Hormel Foods by 3.4% during the fourth quarter. US Bancorp DE now owns 626,360 shares of the company’s stock worth $19,649,000 after buying an additional 20,514 shares in the last quarter. Citigroup Inc. grew its position in Hormel Foods by 13.1% during the third quarter. Citigroup Inc. now owns 452,510 shares of the company’s stock worth $14,345,000 after buying an additional 52,457 shares during the period. Grandfield & Dodd LLC grew its position in Hormel Foods by 2.9% during the third quarter. Grandfield & Dodd LLC now owns 924,365 shares of the company’s stock worth $29,302,000 after buying an additional 26,390 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings 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. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Down 0.7 %

Shares of NYSE:HRL opened at $29.75 on Thursday. 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 capitalization of $16.36 billion, a P/E ratio of 20.37, a P/E/G ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The stock’s fifty day simple moving average is $29.56 and its 200-day simple moving average is $30.80.

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.