Hormel Foods Corporation (HRL) Position Increased by USS Investment Management Ltd
USS Investment Management Ltd increased its position in shares of Hormel Foods Corporation (NYSE:HRL) by 262.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 567,000 shares of the company’s stock after buying an additional 410,602 shares during the period. USS Investment Management Ltd owned about 0.11% of Hormel Foods Corporation worth $19,343,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Cleararc Capital Inc. increased its stake in Hormel Foods Corporation by 0.3% in the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock valued at $228,000 after buying an additional 19 shares during the last quarter. Harfst & Associates Inc. increased its stake in Hormel Foods Corporation by 0.4% in the first quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock valued at $347,000 after buying an additional 40 shares during the last quarter. ING Groep NV increased its stake in Hormel Foods Corporation by 0.4% in the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock valued at $471,000 after buying an additional 53 shares during the last quarter. Dynamic Advisors Solutions LLC increased its stake in Hormel Foods Corporation by 0.6% in the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock valued at $351,000 after buying an additional 65 shares during the last quarter. Finally, Ffcm LLC increased its stake in Hormel Foods Corporation by 0.7% in the first quarter. Ffcm LLC now owns 8,996 shares of the company’s stock valued at $312,000 after buying an additional 66 shares during the last quarter. 38.40% of the stock is owned by hedge funds and other institutional investors.
Hormel Foods Corporation (HRL) opened at 31.34 on Friday. The firm has a 50-day moving average of $33.53 and a 200-day moving average of $34.48. The company has a market capitalization of $16.55 billion, a P/E ratio of 19.35 and a beta of 0.56. Hormel Foods Corporation has a one year low of $30.86 and a one year high of $38.84.
Hormel Foods Corporation (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the company earned $0.36 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts anticipate that Hormel Foods Corporation will post $1.64 earnings per share for the current year.
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Several analysts recently weighed in on HRL shares. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Credit Suisse Group decreased their price objective on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating for the company in a report on Friday, May 26th. BidaskClub downgraded Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a report on Friday, June 16th. Finally, Mizuho started coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $38.36.
In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the company’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the sale, the insider now owns 24,838 shares in the company, valued at $830,334.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Luis G. Marconi sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the sale, the insider now owns 22,532 shares in the company, valued at approximately $784,338.92. The disclosure for this sale can be found here. Corporate insiders own 3.54% of the company’s stock.
Hormel Foods Corporation Company Profile
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