Hormel Foods Corporation (HRL) Holdings Raised by WealthPLAN Partners LLC
WealthPLAN Partners LLC grew its holdings in Hormel Foods Corporation (NYSE:HRL) by 3,155.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 9,472 shares of the company’s stock after acquiring an additional 9,181 shares during the quarter. WealthPLAN Partners LLC’s holdings in Hormel Foods Corporation were worth $323,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Acrospire Investment Management LLC acquired a new stake in Hormel Foods Corporation in the second quarter worth about $111,000. Canada Pension Plan Investment Board boosted its holdings in Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock worth $132,000 after acquiring an additional 2,664 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock worth $148,000 after purchasing an additional 718 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock worth $152,000 after purchasing an additional 295 shares during the last quarter. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the last quarter. 38.95% of the stock is owned by institutional investors and hedge funds.
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Shares of Hormel Foods Corporation (HRL) traded up 0.26% on Friday, reaching $31.27. The company had a trading volume of 1,719,124 shares. Hormel Foods Corporation has a 52 week low of $30.50 and a 52 week high of $38.84. The firm has a market capitalization of $16.51 billion, a P/E ratio of 19.30 and a beta of 0.58. The company’s 50-day moving average price is $32.60 and its 200 day moving average price is $33.86.
Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The firm’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.36 earnings per share. On average, analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current year.
Several research analysts have recently issued reports on HRL shares. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a research note on Saturday, August 26th. They issued an “outperform” rating for the company. Zacks Investment Research cut Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Monday, August 21st. BidaskClub upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Buckingham Research reduced their price objective on Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 25th. Finally, Stephens restated an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a research note on Friday, June 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.30.
In other news, VP James N. Sheehan sold 35,704 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the transaction, the vice president now directly owns 60,000 shares of the company’s stock, valued at approximately $1,852,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Donald H. Kremin sold 100,000 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the transaction, the insider now directly owns 887 shares of the company’s stock, valued at $28,082.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 180,843 shares of company stock valued at $5,715,409. 3.54% of the stock is owned by company insiders.
About Hormel Foods Corporation
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