Kinloch Capital LLC Purchases Shares of 197,350 Hormel Foods Corporation $HRL

Kinloch Capital LLC acquired a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, Holdings Channel reports. The firm acquired 197,350 shares of the company’s stock, valued at approximately $4,898,000. Hormel Foods accounts for 1.8% of Kinloch Capital LLC’s holdings, making the stock its 20th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SlateStone Wealth LLC grew its stake in shares of Hormel Foods by 2.3% in the 2nd quarter. SlateStone Wealth LLC now owns 17,890 shares of the company’s stock valued at $444,000 after buying an additional 400 shares during the period. Hennion & Walsh Asset Management Inc. raised its stake in Hormel Foods by 1.1% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company’s stock worth $968,000 after buying an additional 427 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in Hormel Foods by 5.0% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock worth $213,000 after acquiring an additional 431 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Hormel Foods by 2.9% in the fourth quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock worth $367,000 after acquiring an additional 440 shares in the last quarter. Finally, Vermillion Wealth Management Inc. grew its stake in Hormel Foods by 1.7% in the fourth quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock valued at $615,000 after acquiring an additional 441 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $24.06 on Tuesday. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $29.18. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $24.90 and a 200-day moving average price of $23.43. The company has a market cap of $13.24 billion, a PE ratio of 28.31, a price-to-earnings-growth ratio of 2.75 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 EPS 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 during the quarter, compared to analyst estimates of $2.96 billion. During the same period in the prior year, the firm posted $0.35 EPS. Hormel Foods’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts anticipate that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HRL has been the topic of a number of research reports. Bank of America upped their target price on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Stephens reissued an “equal weight” rating and issued a $25.00 price target on shares of Hormel Foods in a research report on Thursday, July 9th. BNP Paribas Exane boosted their price target on shares of Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings upgraded shares of Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Two analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and a consensus target price of $26.57.

Insider Activity at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the transaction, the director directly owned 32,002 shares of the company’s stock, valued at $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by corporate insiders.

Hormel Foods Profile

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.