Landscape Capital Management L.L.C. Makes New $6.11 Million Investment in Hormel Foods Corporation $HRL

Landscape Capital Management L.L.C. purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 246,017 shares of the company’s stock, valued at approximately $6,106,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SlateStone Wealth LLC grew its holdings in shares of Hormel Foods by 2.3% during the second quarter. SlateStone Wealth LLC now owns 17,890 shares of the company’s stock valued at $444,000 after buying an additional 400 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in Hormel Foods by 1.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company’s stock worth $968,000 after acquiring an additional 427 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in Hormel Foods by 5.0% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock worth $213,000 after acquiring an additional 431 shares during the last quarter. Advisory Alpha LLC lifted its position in Hormel Foods by 2.9% during the 4th quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock worth $367,000 after acquiring an additional 440 shares during the period. Finally, Vermillion Wealth Management Inc. lifted its position in Hormel Foods by 1.7% during the 4th quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock worth $615,000 after acquiring an additional 441 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of research reports. BNP Paribas Exane increased their price objective on Hormel Foods from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a report on Thursday, May 21st. JPMorgan Chase & Co. upped their target price on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Stephens reiterated an “equal weight” rating and issued a $25.00 price target on shares of Hormel Foods in a report on Thursday, July 9th. Finally, Bank of America increased their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $26.57.

Insider Buying and Selling

In related news, Director Gary C. Bhojwani sold 20,200 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the sale, the director directly owned 32,002 shares of the company’s stock, valued at $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by company insiders.

Hormel Foods Trading Down 0.7%

NYSE HRL opened at $23.90 on Friday. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $29.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The company has a market capitalization of $13.15 billion, a PE ratio of 28.12, a P/E/G ratio of 2.77 and a beta of 0.34. The company has a fifty day moving average of $24.91 and a 200 day moving average of $23.45.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.05. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same period last year, the firm earned $0.35 EPS. Research analysts forecast that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.