WFA of San Diego LLC purchased a new position in shares of Hormel Foods Corp (NYSE:HRL) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,041 shares of the company’s stock, valued at approximately $1,362,000.

Several other institutional investors have also modified their holdings of the business. Fort L.P. lifted its stake in shares of Hormel Foods by 0.4% during the 1st quarter. Fort L.P. now owns 62,825 shares of the company’s stock worth $2,930,000 after purchasing an additional 220 shares during the period. Dynamic Advisor Solutions LLC lifted its stake in shares of Hormel Foods by 2.7% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 9,973 shares of the company’s stock worth $465,000 after purchasing an additional 262 shares during the period. CSat Investment Advisory L.P. lifted its stake in shares of Hormel Foods by 16.0% during the 2nd quarter. CSat Investment Advisory L.P. now owns 2,092 shares of the company’s stock worth $101,000 after purchasing an additional 288 shares during the period. ICW Investment Advisors LLC raised its position in shares of Hormel Foods by 0.9% in the 1st quarter. ICW Investment Advisors LLC now owns 32,785 shares of the company’s stock worth $1,529,000 after buying an additional 303 shares during the period. Finally, Cornerstone Advisors Inc. raised its position in shares of Hormel Foods by 24.8% in the 2nd quarter. Cornerstone Advisors Inc. now owns 1,686 shares of the company’s stock worth $81,000 after buying an additional 335 shares during the period. 42.68% of the stock is currently owned by institutional investors.

NYSE:HRL traded down $0.26 during mid-day trading on Wednesday, hitting $49.55. The company had a trading volume of 35,886 shares, compared to its average volume of 2,413,773. The business has a fifty day simple moving average of $51.25 and a 200-day simple moving average of $48.13. The company has a current ratio of 2.39, a quick ratio of 1.70 and a debt-to-equity ratio of 0.17. Hormel Foods Corp has a 1 year low of $39.01 and a 1 year high of $52.97. The firm has a market capitalization of $26.88 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 3.95 and a beta of -0.04.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Tuesday, August 25th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. Hormel Foods had a return on equity of 15.20% and a net margin of 9.59%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company posted $0.37 earnings per share. The firm’s revenue was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Hormel Foods Corp will post 1.68 earnings per share for the current year.

Several research analysts recently weighed in on the company. Cfra increased their target price on Hormel Foods from $38.00 to $45.00 and gave the stock a “hold” rating in a research report on Thursday, May 21st. Argus assumed coverage on Hormel Foods in a research report on Friday, July 17th. They issued a “buy” rating and a $56.00 target price on the stock. Finally, Seaport Global Securities assumed coverage on Hormel Foods in a research report on Tuesday, September 8th. They issued a “neutral” rating on the stock. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.88.

In other news, EVP Glenn R. Leitch sold 51,796 shares of the firm’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $48.46, for a total transaction of $2,510,034.16. Following the completion of the sale, the executive vice president now directly owns 156,727 shares in the company, valued at $7,594,990.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Lori J. Marco sold 41,714 shares of the firm’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $51.41, for a total value of $2,144,516.74. Following the sale, the vice president now owns 76,302 shares of the company’s stock, valued at $3,922,685.82. The disclosure for this sale can be found here. Insiders sold 171,635 shares of company stock worth $8,630,232 over the last three months. 1.15% of the stock is currently owned by corporate insiders.

Hormel Foods Profile

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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Institutional Ownership by Quarter for Hormel Foods (NYSE:HRL)

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