Fisher Asset Management LLC Raises Stock Holdings in Hormel Foods Co. (NYSE:HRL)

Fisher Asset Management LLC raised its position in shares of Hormel Foods Co. (NYSE:HRL) by 34.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 74,981 shares of the company’s stock after buying an additional 19,246 shares during the quarter. Fisher Asset Management LLC’s holdings in Hormel Foods were worth $2,352,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of HRL. Crews Bank & Trust purchased a new position in Hormel Foods during the 4th quarter valued at about $25,000. Brooklyn Investment Group bought a new position in shares of Hormel Foods during the third quarter valued at approximately $32,000. Prospera Private Wealth LLC purchased a new position in shares of Hormel Foods during the third quarter valued at approximately $39,000. Capital Advisors Ltd. LLC boosted its position in shares of Hormel Foods by 86.9% in the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Hormel Foods in the 3rd quarter worth approximately $47,000. Institutional investors own 40.99% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hormel Foods Trading Down 0.5 %

Shares of NYSE:HRL opened at $28.76 on Thursday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. Hormel Foods Co. has a 1 year low of $27.59 and a 1 year high of $36.86. The company has a market cap of $15.81 billion, a P/E ratio of 19.70, a PEG ratio of 2.73 and a beta of 0.21. The stock’s fifty day moving average price is $29.85 and its 200-day moving average price is $30.98.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company had revenue of $3.14 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same quarter in the prior year, the company posted $0.42 EPS. Hormel Foods’s revenue was down 1.9% on a year-over-year basis. Sell-side analysts expect that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Insider Activity at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was acquired at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the purchase, the vice president now owns 7,100 shares in the company, valued at approximately $230,537. This represents a 223.32 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.72% of the stock is owned by insiders.

About Hormel Foods

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.