Vise Technologies Inc. Invests $901,000 in Hormel Foods Corporation $HRL

Vise Technologies Inc. acquired a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 36,301 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Caxton Associates LLP acquired a new position in shares of Hormel Foods during the first quarter worth $310,000. Empowered Funds LLC boosted its position in shares of Hormel Foods by 1.8% in the 1st quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock worth $1,779,000 after purchasing an additional 993 shares in the last quarter. Woodline Partners LP boosted its position in shares of Hormel Foods by 40.8% in the 1st quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock worth $761,000 after purchasing an additional 7,129 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Hormel Foods by 214.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock worth $143,000 after buying an additional 3,226 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Hormel Foods by 76.5% during the 2nd quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock worth $3,134,000 after buying an additional 44,906 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 0.1%

Hormel Foods stock opened at $23.90 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. The business’s 50-day simple moving average is $24.91 and its two-hundred day simple moving average is $23.44. The company has a market cap of $13.15 billion, a PE ratio of 28.12, a PEG ratio of 2.75 and a beta of 0.34. Hormel Foods Corporation has a fifty-two week low of $19.70 and a fifty-two week high of $29.34.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the company earned $0.35 earnings per share. The company’s revenue was up 2.6% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.58% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on HRL shares. BNP Paribas Exane increased their price target on Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Bank of America boosted their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. upped their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, August 14th. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research report on Thursday, May 21st. Finally, Stephens reiterated an “equal weight” rating and issued a $25.00 target price on shares of Hormel Foods in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus price target of $26.57.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.