Intech Investment Management LLC Sells 31,784 Shares of Hormel Foods Co. (NYSE:HRL)

Intech Investment Management LLC lessened its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 145,181 shares of the company’s stock after selling 31,784 shares during the period. Intech Investment Management LLC’s holdings in Hormel Foods were worth $4,554,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in shares of Hormel Foods during the 4th quarter valued at about $25,000. Brooklyn Investment Group purchased a new position in shares of Hormel Foods during the 3rd quarter valued at about $32,000. Prospera Private Wealth LLC purchased a new position in shares of Hormel Foods during the 3rd quarter valued at about $39,000. Fairway Wealth LLC purchased a new position in shares of Hormel Foods during the 4th quarter valued at about $44,000. Finally, Capital Advisors Ltd. LLC raised its holdings in shares of Hormel Foods by 86.9% during the 4th quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock valued at $47,000 after buying an additional 690 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of Hormel Foods stock opened at $29.91 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The business’s 50 day simple moving average is $29.57 and its two-hundred day simple moving average is $30.80. The stock has a market capitalization of $16.45 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on HRL shares. Stephens reissued an “equal weight” rating and set a $31.00 price objective on shares of Hormel Foods in a report on Tuesday, February 18th. Citigroup decreased their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, November 19th. Finally, Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. One 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and an average target price of $31.80.

Hormel Foods 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.