Hormel Foods Co. (NYSE:HRL) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC lowered its stake in Hormel Foods Co. (NYSE:HRL) by 68.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,187 shares of the company’s stock after selling 34,760 shares during the quarter. Wealthfront Advisers LLC’s holdings in Hormel Foods were worth $508,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Hormel Foods in the fourth quarter worth about $25,000. Brooklyn Investment Group acquired a new stake in Hormel Foods in the third quarter worth about $32,000. Prospera Private Wealth LLC acquired a new stake in Hormel Foods in the third quarter worth about $39,000. Fairway Wealth LLC acquired a new stake in Hormel Foods in the fourth quarter worth about $44,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

NYSE HRL opened at $29.53 on Monday. The stock’s 50-day moving average price is $29.59 and its two-hundred day moving average price is $30.84. The company has a current ratio of 2.32, a quick ratio of 1.19 and a debt-to-equity ratio of 0.36. The company has a market cap of $16.24 billion, a PE ratio of 20.22, a PEG ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86.

Analyst Ratings Changes

A number of brokerages have weighed in on HRL. Stephens reissued an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Citigroup cut their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday, November 19th. Finally, Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Hormel Foods presently has an average rating of “Hold” and a consensus target price of $31.80.

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.