McKinley Carter Wealth Services Inc. increased its stake in Hormel Foods Corporation (NYSE:HRL) by 1.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 64,569 shares of the company’s stock after buying an additional 775 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Hormel Foods Corporation were worth $2,202,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its position in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares during the period. SRS Capital Advisors Inc. raised its position in Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares during the period. Van ECK Associates Corp raised its position in Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares during the period. Penserra Capital Management LLC bought a new position in Hormel Foods Corporation during the second quarter valued at $189,000. Finally, Pacer Advisors Inc. raised its position in Hormel Foods Corporation by 3.3% in the first quarter. Pacer Advisors Inc. now owns 5,590 shares of the company’s stock valued at $194,000 after buying an additional 176 shares during the period. 38.90% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Corporation (NYSE HRL) opened at 31.34 on Monday. The firm has a market capitalization of $16.55 billion, a price-to-earnings ratio of 19.35 and a beta of 0.56. Hormel Foods Corporation has a 12-month low of $30.86 and a 12-month high of $38.84. The company’s 50 day moving average price is $33.53 and its 200-day moving average price is $34.48.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by $0.03. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Hormel Foods Corporation will post $1.64 earnings per share for the current fiscal year.

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Several research analysts have weighed in on HRL shares. Credit Suisse Group lowered their price target on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, May 1st. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Finally, Mizuho started coverage on Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the stock. Hormel Foods Corporation currently has an average rating of “Hold” and a consensus target price of $38.36.

In other Hormel Foods Corporation news, insider Luis G. Marconi sold 1,300 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the sale, the insider now owns 22,532 shares in the company, valued at approximately $784,338.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Thomas R. Day sold 11,139 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the sale, the insider now owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. 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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Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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