Amalgamated Bank boosted its stake in shares of Hormel Foods Corp (NYSE:HRL) by 9.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,924 shares of the company’s stock after buying an additional 3,032 shares during the period. Amalgamated Bank’s holdings in Hormel Foods were worth $1,234,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp acquired a new position in Hormel Foods during the fourth quarter worth $5,694,000. CLS Investments LLC boosted its stake in Hormel Foods by 4.4% during the fourth quarter. CLS Investments LLC now owns 43,553 shares of the company’s stock worth $1,585,000 after buying an additional 1,833 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in Hormel Foods by 16.6% during the fourth quarter. Champlain Investment Partners LLC now owns 3,684,235 shares of the company’s stock worth $134,069,000 after buying an additional 524,325 shares during the last quarter. Cornerstone Capital Inc. acquired a new position in Hormel Foods during the fourth quarter worth $272,000. Finally, Bbva Compass Bancshares Inc. acquired a new position in Hormel Foods during the fourth quarter worth $205,000. 39.40% of the stock is currently owned by institutional investors.
Hormel Foods Corp (NYSE:HRL) opened at $33.70 on Tuesday. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $38.00. The company has a market capitalization of $17,850.00, a price-to-earnings ratio of 21.33, a PEG ratio of 1.99 and a beta of 0.53. The company has a quick ratio of 0.74, a current ratio of 1.47 and a debt-to-equity ratio of 0.12.
A number of equities analysts have weighed in on HRL shares. Barclays set a $40.00 price objective on Hormel Foods and gave the stock an “overweight” rating in a research note on Friday, December 1st. Jefferies Group raised Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, February 14th. Mizuho set a $34.00 price objective on Hormel Foods and gave the stock a “hold” rating in a research note on Saturday, November 25th. Credit Suisse Group lowered their price objective on Hormel Foods from $36.00 to $33.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 27th. Finally, Zacks Investment Research raised Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. Hormel Foods has an average rating of “Hold” and an average price target of $34.60.
In other news, insider Steven G. Binder sold 20,000 shares of the company’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $33.40, for a total value of $668,000.00. Following the transaction, the insider now owns 31,964 shares of the company’s stock, valued at approximately $1,067,597.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Elsa A. Murano sold 7,129 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $36.00, for a total value of $256,644.00. Following the completion of the sale, the director now owns 90,991 shares in the company, valued at approximately $3,275,676. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,621 shares of company stock worth $1,076,069. Corporate insiders own 1.48% of the company’s stock.
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Hormel Foods Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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