First Republic Investment Management Inc. raised its position in shares of Hormel Foods Corp (NYSE:HRL) by 157.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,829 shares of the company’s stock after purchasing an additional 69,028 shares during the period. First Republic Investment Management Inc.’s holdings in Hormel Foods were worth $4,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Hormel Foods by 1.8% during the 2nd quarter. BlackRock Inc. now owns 20,547,912 shares of the company’s stock valued at $764,587,000 after acquiring an additional 358,834 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of Hormel Foods by 14.1% during the 1st quarter. Champlain Investment Partners LLC now owns 4,202,680 shares of the company’s stock valued at $144,236,000 after acquiring an additional 518,445 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Hormel Foods by 25.4% during the 2nd quarter. Victory Capital Management Inc. now owns 3,817,032 shares of the company’s stock valued at $142,031,000 after acquiring an additional 773,545 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Hormel Foods by 1.0% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,720,986 shares of the company’s stock valued at $93,384,000 after acquiring an additional 26,954 shares during the last quarter. Finally, Guggenheim Capital LLC increased its holdings in shares of Hormel Foods by 12.5% during the 1st quarter. Guggenheim Capital LLC now owns 2,096,288 shares of the company’s stock valued at $71,944,000 after acquiring an additional 233,064 shares during the last quarter. 42.03% of the stock is owned by institutional investors.

A number of research analysts have recently commented on the company. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Zacks Investment Research raised Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, May 22nd. Jefferies Financial Group reissued a “buy” rating and set a $42.00 price objective on shares of Hormel Foods in a report on Thursday, May 31st. Buckingham Research lowered their price objective on Hormel Foods from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Friday, May 25th. Finally, Barclays lowered Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price objective on the stock. in a report on Friday, August 24th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $36.30.

Shares of NYSE HRL opened at $41.90 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.78 and a debt-to-equity ratio of 0.12. The stock has a market cap of $22.41 billion, a PE ratio of 26.69, a P/E/G ratio of 2.87 and a beta of 0.34. Hormel Foods Corp has a 52 week low of $29.75 and a 52 week high of $42.29.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.39. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The company’s revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.34 EPS. research analysts expect that Hormel Foods Corp will post 1.76 earnings per share for the current year.

In other Hormel Foods news, Director Glenn S. Forbes sold 13,200 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The stock was sold at an average price of $41.56, for a total value of $548,592.00. Following the sale, the director now owns 63,553 shares of the company’s stock, valued at approximately $2,641,262.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Lori J. Marco sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 11th. The shares were sold at an average price of $41.50, for a total value of $290,500.00. Following the completion of the sale, the vice president now directly owns 55,879 shares in the company, valued at approximately $2,318,978.50. The disclosure for this sale can be found here. Insiders sold a total of 95,518 shares of company stock worth $3,727,288 in the last ninety days. Insiders own 3.54% of the company’s stock.

About Hormel Foods

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, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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