Amundi Boosts Position in Hormel Foods Co. (NYSE:HRL)

Amundi boosted its position in shares of Hormel Foods Co. (NYSE:HRL) by 16.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,406,527 shares of the company’s stock after buying an additional 198,931 shares during the quarter. Amundi’s holdings in Hormel Foods were worth $42,815,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. State Street Corp boosted its position in Hormel Foods by 2.5% during the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after purchasing an additional 617,308 shares in the last quarter. Geode Capital Management LLC boosted its position in Hormel Foods by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,362,658 shares of the company’s stock worth $232,646,000 after purchasing an additional 120,212 shares in the last quarter. Stifel Financial Corp boosted its position in Hormel Foods by 5.2% during the third quarter. Stifel Financial Corp now owns 3,267,186 shares of the company’s stock worth $103,570,000 after purchasing an additional 162,577 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hormel Foods by 67.1% during the fourth quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock worth $91,810,000 after purchasing an additional 1,175,087 shares in the last quarter. Finally, Holocene Advisors LP lifted its position in shares of Hormel Foods by 56.0% in the third quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock valued at $70,934,000 after acquiring an additional 802,816 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on HRL shares. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. 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. Finally, Citigroup reduced their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and a consensus target price of $31.80.

Hormel Foods Stock Performance

NYSE HRL opened at $29.23 on Thursday. The business’s 50-day moving average price is $29.67 and its 200 day moving average price is $30.89. Hormel Foods Co. has a twelve month low of $27.59 and a twelve month high of $36.86. The company has a market capitalization of $16.08 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36.

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.