Hormel Foods Sees Unusually Large Options Volume (NYSE:HRL)

Hormel Foods Co. (NYSE:HRL) saw unusually large options trading on Tuesday. Traders bought 5,455 call options on the company. This represents an increase of 160% compared to the average volume of 2,096 call options.

Wall Street Analyst Weigh In

Several research firms recently commented on HRL. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reiterated an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Tuesday, February 18th. Finally, Citigroup reduced their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $31.80.

Hormel Foods Trading Down 0.8 %

Shares of NYSE:HRL traded down $0.23 during midday trading on Tuesday, reaching $30.04. The company’s stock had a trading volume of 220,378 shares, compared to its average volume of 2,391,311. The business has a 50 day moving average price of $29.74 and a 200 day moving average price of $30.91. Hormel Foods has a 1 year low of $27.59 and a 1 year high of $36.86. The firm has a market cap of $16.52 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36.

Institutional Trading of Hormel Foods

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Crews Bank & Trust acquired a new stake in shares of Hormel Foods in the fourth quarter worth approximately $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods in the 3rd quarter valued at $32,000. Prospera Private Wealth LLC purchased a new stake in shares of Hormel Foods during the 3rd quarter valued at $39,000. Fairway Wealth LLC purchased a new position in shares of Hormel Foods in the 4th quarter worth $44,000. Finally, Capital Performance Advisors LLP acquired a new position in Hormel Foods in the third quarter valued at $47,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

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.