Natixis Advisors L.P. decreased its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 14.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,938 shares of the company’s stock after selling 2,244 shares during the period. Natixis Advisors L.P.’s holdings in Hormel Foods were worth $525,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in HRL. MUFG Americas Holdings Corp bought a new position in Hormel Foods during the 2nd quarter valued at approximately $35,000. TRUE Private Wealth Advisors bought a new position in Hormel Foods during the 2nd quarter valued at approximately $36,000. Dougherty Wealth Advisers LLC raised its position in Hormel Foods by 350.0% during the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock valued at $36,000 after purchasing an additional 700 shares during the last quarter. Country Trust Bank raised its position in Hormel Foods by 190.7% during the 2nd quarter. Country Trust Bank now owns 1,692 shares of the company’s stock valued at $69,000 after purchasing an additional 1,110 shares during the last quarter. Finally, Pearl River Capital LLC bought a new position in Hormel Foods during the 2nd quarter valued at approximately $73,000. 44.34% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have weighed in on HRL shares. ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Buckingham Research reduced their target price on Hormel Foods from $38.00 to $35.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Stephens set a $37.00 target price on Hormel Foods and gave the stock a “hold” rating in a report on Monday, August 12th. BMO Capital Markets set a $44.00 price target on Hormel Foods and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Zacks Investment Research upgraded Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 price target on the stock in a research note on Tuesday, August 27th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $40.10.
Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Hormel Foods had a return on equity of 16.75% and a net margin of 10.34%. The company’s revenue was down 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. On average, equities analysts expect that Hormel Foods Corp will post 1.74 EPS for the current year.
In other news, Director Robert Nakasone sold 3,962 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $43.01, for a total transaction of $170,405.62. Following the transaction, the director now directly owns 74,275 shares of the company’s stock, valued at approximately $3,194,567.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin L. Myers sold 2,045 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $42.80, for a total value of $87,526.00. Following the transaction, the senior vice president now directly owns 13,881 shares in the company, valued at $594,106.80. The disclosure for this sale can be found here. Insiders have sold a total of 113,730 shares of company stock worth $4,956,035 over the last three months. Insiders own 1.11% of the company’s stock.
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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