Hormel Foods Co. (NYSE:HRL) Shares Bought by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. grew its holdings in Hormel Foods Co. (NYSE:HRL) by 4.9% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 53,269 shares of the company’s stock after buying an additional 2,510 shares during the period. Daiwa Securities Group Inc.’s holdings in Hormel Foods were worth $1,671,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Greenleaf Trust raised its stake in Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after acquiring an additional 336 shares during the last quarter. Empower Advisory Group LLC raised its stake in shares of Hormel Foods by 3.7% during the third quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock worth $306,000 after purchasing an additional 342 shares during the last quarter. CFS Investment Advisory Services LLC lifted its holdings in shares of Hormel Foods by 2.8% during the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock worth $422,000 after purchasing an additional 360 shares during the period. New Century Financial Group LLC grew its position in Hormel Foods by 6.2% in the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock valued at $211,000 after buying an additional 392 shares during the last quarter. Finally, MML Investors Services LLC increased its stake in Hormel Foods by 4.8% in the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock valued at $289,000 after buying an additional 416 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

NYSE:HRL opened at $29.53 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The firm’s fifty day simple moving average is $29.59 and its 200-day simple moving average is $30.86. The stock has a market cap of $16.24 billion, a PE ratio of 20.22, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21.

Wall Street Analyst Weigh In

HRL has been the subject of several recent analyst reports. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note 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 dropped their target price 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.80.

Hormel Foods Company 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.