Investors Purchase High Volume of Hormel Foods Call Options (NYSE:HRL)

Hormel Foods Co. (NYSE:HRL) saw some unusual options trading on Tuesday. Stock investors purchased 5,455 call options on the stock. This represents an increase of approximately 160% compared to the typical daily volume of 2,096 call options.

Institutional Trading of Hormel Foods

Institutional investors have recently modified their holdings of the business. Crews Bank & Trust acquired a new position in Hormel Foods during the 4th quarter worth about $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods in the third quarter worth approximately $32,000. Prospera Private Wealth LLC bought a new stake in Hormel Foods in the third quarter valued at approximately $39,000. Fairway Wealth LLC acquired a new stake in Hormel Foods during the 4th quarter valued at approximately $44,000. Finally, Capital Advisors Ltd. LLC raised its holdings in Hormel Foods by 86.9% during 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 during the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HRL. Barclays raised Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Citigroup reduced their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, 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. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Trading Down 1.1 %

HRL opened at $29.94 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. Hormel Foods has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The company’s 50 day moving average price is $29.71 and its two-hundred day moving average price is $30.90. The firm has a market capitalization of $16.47 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.73 and a beta of 0.21.

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.