Rodgers Brothers Inc. reduced its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 16.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,512 shares of the company’s stock after selling 3,346 shares during the period. Rodgers Brothers Inc.’s holdings in Hormel Foods were worth $601,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cornerstone Capital Management Holdings LLC. grew its position in Hormel Foods by 11.0% during the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 50,611 shares of the company’s stock valued at $1,841,000 after acquiring an additional 5,025 shares during the last quarter. Teachers Advisors LLC grew its position in Hormel Foods by 1.7% during the fourth quarter. Teachers Advisors LLC now owns 448,563 shares of the company’s stock valued at $16,323,000 after acquiring an additional 7,599 shares during the last quarter. Captrust Financial Advisors bought a new position in Hormel Foods during the fourth quarter valued at approximately $6,073,000. Two Sigma Securities LLC bought a new position in Hormel Foods during the fourth quarter valued at approximately $206,000. Finally, Two Sigma Advisers LP bought a new position in Hormel Foods during the fourth quarter valued at approximately $336,000. Institutional investors and hedge funds own 39.40% of the company’s stock.
In related news, Director Elsa A. Murano sold 7,129 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $36.00, for a total value of $256,644.00. Following the completion of the sale, the director now owns 90,991 shares of the company’s stock, valued at $3,275,676. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Luis G. Marconi sold 1,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $33.88, for a total value of $33,880.00. Following the completion of the sale, the insider now directly owns 21,532 shares of the company’s stock, valued at approximately $729,504.16. The disclosure for this sale can be found here. Insiders sold 32,621 shares of company stock valued at $1,109,949 in the last ninety days. 1.48% of the stock is currently owned by insiders.
A number of research analysts have commented on HRL shares. Barclays set a $40.00 price target on shares of Hormel Foods and gave the company an “overweight” rating in a research report on Friday, December 1st. Jefferies Group upgraded shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a report on Wednesday, February 14th. Mizuho set a $34.00 target price on shares of Hormel Foods and gave the stock a “hold” rating in a report on Saturday, November 25th. Credit Suisse Group cut their target price on shares of Hormel Foods from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Monday, February 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $34.60.
Hormel Foods Corp (NYSE HRL) opened at $34.11 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 1.47 and a debt-to-equity ratio of 0.12. Hormel Foods Corp has a fifty-two week low of $29.75 and a fifty-two week high of $38.00. The stock has a market cap of $17,847.01, a P/E ratio of 21.33, a PEG ratio of 1.98 and a beta of 0.53.
Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Hormel Foods had a net margin of 9.92% and a return on equity of 17.44%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.43 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue was up 2.1% on a year-over-year basis. research analysts forecast that Hormel Foods Corp will post 1.82 EPS for the current fiscal year.
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Hormel Foods Company Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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