Mariner Wealth Advisors LLC cut its position in shares of Hormel Foods Corporation (NYSE:HRL) by 22.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,030 shares of the company’s stock after selling 5,160 shares during the quarter. Mariner Wealth Advisors LLC’s holdings in Hormel Foods Corporation were worth $615,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of HRL. Russell Investments Group Ltd. raised its holdings in shares of Hormel Foods Corporation by 63.1% in the first quarter. Russell Investments Group Ltd. now owns 137,489 shares of the company’s stock worth $4,762,000 after acquiring an additional 53,203 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings in shares of 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 during the last quarter. Sei Investments Co. raised its holdings in shares of Hormel Foods Corporation by 133.9% in the first quarter. Sei Investments Co. now owns 123,550 shares of the company’s stock worth $4,278,000 after acquiring an additional 70,735 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Hormel Foods Corporation by 7.1% in the first quarter. Mutual of America Capital Management LLC now owns 35,797 shares of the company’s stock worth $1,240,000 after acquiring an additional 2,369 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Hormel Foods Corporation by 0.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 618,647 shares of the company’s stock worth $21,424,000 after acquiring an additional 4,047 shares during the last quarter. 38.95% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Thomas R. Day sold 11,139 shares of the stock in a transaction on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the sale, the insider now directly owns 24,838 shares in the company, valued at $830,334.34. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Steven G. Binder sold 15,000 shares of the stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $32.00, for a total value of $480,000.00. Following the sale, the insider now owns 26,838 shares of the company’s stock, valued at $858,816. The disclosure for this sale can be found here. Insiders sold 180,843 shares of company stock valued at $5,715,409 in the last 90 days. Corporate insiders own 3.54% of the company’s stock.

A number of research firms have recently weighed in on HRL. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, September 11th. Credit Suisse Group dropped coverage on Hormel Foods Corporation in a report on Saturday, August 26th. They issued an “outperform” rating for the company. Barclays PLC cut their price target on Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a report on Friday, August 25th. BMO Capital Markets reissued an “outperform” rating and issued a $38.00 price target (down from $45.00) on shares of Hormel Foods Corporation in a report on Friday, August 25th. Finally, Buckingham Research cut their price target on Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, August 25th. Six equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Hormel Foods Corporation currently has an average rating of “Hold” and a consensus price target of $38.30.

Shares of Hormel Foods Corporation (HRL) opened at 31.27 on Monday. The stock has a market cap of $16.51 billion, a P/E ratio of 19.30 and a beta of 0.58. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84. The stock has a 50 day moving average price of $32.60 and a 200-day moving average price of $33.86.

Hormel Foods Corporation (NYSE:HRL) last released its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion during 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%. Hormel Foods Corporation’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. On average, analysts forecast that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

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Hormel Foods Corporation Profile

Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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