First Merchants Corp raised its stake in shares of Hormel Foods Corp. (NYSE:HRL) by 27.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,803 shares of the company’s stock after buying an additional 8,769 shares during the period. First Merchants Corp’s holdings in Hormel Foods Corp. were worth $1,493,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Checchi Capital Advisers LLC increased its position in shares of Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock valued at $101,000 after buying an additional 100 shares during the last quarter. Financial Architects Inc increased its stake in Hormel Foods Corp. by 1,280.6% in the second quarter. Financial Architects Inc now owns 4,059 shares of the company’s stock worth $149,000 after buying an additional 3,765 shares during the last quarter. Bessemer Group Inc. increased its stake in Hormel Foods Corp. by 92.6% in the first quarter. Bessemer Group Inc. now owns 5,550 shares of the company’s stock worth $240,000 after buying an additional 2,668 shares during the last quarter. Sigma Planning Corp increased its stake in Hormel Foods Corp. by 6.5% in the second quarter. Sigma Planning Corp now owns 6,094 shares of the company’s stock worth $223,000 after buying an additional 373 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in Hormel Foods Corp. during the first quarter worth $264,000. Hedge funds and other institutional investors own 34.05% of the company’s stock.

Hormel Foods Corp. (NYSE:HRL) traded down 0.52% on Tuesday, reaching $36.39. The company’s stock had a trading volume of 1,381,162 shares. Hormel Foods Corp. has a 52-week low of $30.06 and a 52-week high of $45.72. The stock has a market cap of $19.26 billion, a price-to-earnings ratio of 23.63 and a beta of 0.56. The firm’s 50-day moving average price is $37.27 and its 200-day moving average price is $38.08.

Hormel Foods Corp. (NYSE:HRL) last issued its earnings results on Thursday, August 18th. The company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. The firm had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.26 billion. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, equities analysts expect that Hormel Foods Corp. will post $1.63 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. Jefferies Group restated a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corp. in a research report on Tuesday, June 7th. Zacks Investment Research upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research report on Tuesday, August 23rd. Oppenheimer Holdings Inc. assumed coverage on Hormel Foods Corp. in a research report on Friday. They set a “market perform” rating and a $39.00 target price for the company. Edward Jones upgraded Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, August 24th. Finally, Deutsche Bank AG restated a “hold” rating and set a $38.00 target price on shares of Hormel Foods Corp. in a research report on Tuesday, August 16th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.35.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $36.74, for a total value of $183,700.00. Following the sale, the director now owns 96,416 shares of the company’s stock, valued at approximately $3,542,323.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 3.54% of the stock is owned by company insiders.

Hormel Foods Corp. Company Profile

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