Hormel Foods Co. (NYSE:HRL) Shares Purchased by Lindbrook Capital LLC

Lindbrook Capital LLC boosted its holdings in Hormel Foods Co. (NYSE:HRL) by 91.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,523 shares of the company’s stock after buying an additional 729 shares during the quarter. Lindbrook Capital LLC’s holdings in Hormel Foods were worth $48,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Hormel Foods in the fourth quarter valued at approximately $7,891,000. Arizona State Retirement System boosted its holdings in Hormel Foods by 1.4% in the fourth quarter. Arizona State Retirement System now owns 87,600 shares of the company’s stock valued at $2,748,000 after purchasing an additional 1,201 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Hormel Foods in the fourth quarter valued at approximately $1,330,000. M&T Bank Corp boosted its holdings in Hormel Foods by 10.6% in the fourth quarter. M&T Bank Corp now owns 12,036 shares of the company’s stock valued at $378,000 after purchasing an additional 1,152 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Hormel Foods by 3.7% in the fourth quarter. Victory Capital Management Inc. now owns 941,511 shares of the company’s stock valued at $29,535,000 after purchasing an additional 33,425 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $29.92 on Friday. 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 Co. has a twelve month low of $27.59 and a twelve month high of $36.86. The stock has a 50 day moving average of $29.76 and a two-hundred day moving average of $30.93. The stock has a market cap of $16.45 billion, a P/E ratio of 20.49, a P/E/G ratio of 2.73 and a beta of 0.21.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the company earned $0.42 EPS. Hormel Foods’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, research analysts forecast that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HRL. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. Finally, Citigroup reduced 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. 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 stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and a consensus target price of $31.80.

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.