Hormel Foods Co. (NYSE:HRL) Stock Position Lifted by US Bancorp DE

US Bancorp DE raised its holdings in Hormel Foods Co. (NYSE:HRL) by 3.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 626,360 shares of the company’s stock after acquiring an additional 20,514 shares during the quarter. US Bancorp DE owned about 0.11% of Hormel Foods worth $19,649,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Greenleaf Trust lifted its stake in Hormel Foods by 4.4% in the fourth quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after acquiring an additional 336 shares during the last quarter. Empower Advisory Group LLC lifted its stake in shares of Hormel Foods by 3.7% in the third quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock worth $306,000 after buying an additional 342 shares during the last quarter. CFS Investment Advisory Services LLC lifted its stake in shares of Hormel Foods by 2.8% in the fourth quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock worth $422,000 after buying an additional 360 shares during the last quarter. New Century Financial Group LLC lifted its stake in shares of Hormel Foods by 6.2% in the fourth quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after buying an additional 392 shares during the last quarter. Finally, MML Investors Services LLC lifted its stake in shares of Hormel Foods by 4.8% in the third quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock worth $289,000 after buying an additional 416 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HRL shares. Stephens restated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Tuesday, February 18th. Citigroup cut their target price on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. Finally, Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Price Performance

NYSE:HRL opened at $28.58 on Monday. The stock has a market cap of $15.69 billion, a P/E ratio of 19.57, a PEG ratio of 2.73 and a beta of 0.26. Hormel Foods Co. has a one year low of $27.59 and a one year high of $36.86. The company has a fifty day moving average price of $30.00 and a 200 day moving average price of $31.04. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. Analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken purchased 4,904 shares of the stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the acquisition, the vice president now directly owns 7,100 shares of the company’s stock, valued at $230,537. This represents a 223.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.72% of the company’s stock.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.