Rhumbline Advisers Boosts Stake in Hormel Foods Co. (NYSE:HRL)

Rhumbline Advisers raised its holdings in Hormel Foods Co. (NYSE:HRL – Free Report) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 756,053 shares of the company’s stock after acquiring an additional 19,517 shares during the period. Rhumbline Advisers owned approximately 0.14% of Hormel Foods worth $30,151,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Compagnie Lombard Odier SCmA bought a new stake in Hormel Foods during the fourth quarter valued at approximately $26,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Hormel Foods by 217.1% during the 1st quarter. Newbridge Financial Services Group Inc. now owns 650 shares of the company’s stock worth $26,000 after acquiring an additional 445 shares during the last quarter. Ameritas Advisory Services LLC purchased a new position in Hormel Foods in the first quarter worth $26,000. Exos TFP Holdings LLC increased its stake in Hormel Foods by 270.0% in the first quarter. Exos TFP Holdings LLC now owns 962 shares of the company’s stock valued at $38,000 after acquiring an additional 702 shares during the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in Hormel Foods during the first quarter valued at about $41,000. Hedge funds and other institutional investors own 41.15% of the company’s stock.

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Hormel Foods Trading Up 1.2 %

Shares of HRL stock opened at $39.38 on Monday. The business has a 50-day moving average of $40.15 and a 200 day moving average of $40.53. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.42 and a quick ratio of 1.09. Hormel Foods Co. has a 1-year low of $37.78 and a 1-year high of $51.69. The stock has a market capitalization of $21.51 billion, a PE ratio of 23.03, a P/E/G ratio of 3.90 and a beta of 0.20.

Hormel Foods (NYSE:HRL – Get Free Report) last released its quarterly earnings data on Thursday, June 1st. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.06 billion. Hormel Foods had a return on equity of 12.36% and a net margin of 7.61%. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.73 earnings per share for the current year.

Insider Transactions at Hormel Foods

In related news, VP Mark J. Ourada sold 9,200 shares of the business’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $41.00, for a total transaction of $377,200.00. Following the transaction, the vice president now owns 20,684 shares in the company, valued at approximately $848,044. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Hormel Foods news, VP Mark A. Coffey sold 31,400 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were sold at an average price of $40.50, for a total value of $1,271,700.00. Following the completion of the transaction, the vice president now directly owns 55,133 shares in the company, valued at approximately $2,232,886.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Mark J. Ourada sold 9,200 shares of Hormel Foods stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $41.00, for a total transaction of $377,200.00. Following the sale, the vice president now directly owns 20,684 shares in the company, valued at approximately $848,044. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 45,800 shares of company stock worth $1,859,552. Company insiders own 0.81% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HRL shares. Barclays cut their price objective on Hormel Foods from $45.00 to $42.00 in a report on Thursday, June 1st. StockNews.com started coverage on Hormel Foods in a research note on Thursday, August 17th. They issued a “hold” rating for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $43.71.

View Our Latest Research Report on HRL

About Hormel Foods

(Free Report)

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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