Champlain Investment Partners LLC lifted its holdings in Hormel Foods Corp (NYSE:HRL) by 16.6% in the 4th quarter, HoldingsChannel reports. The firm owned 3,684,235 shares of the company’s stock after purchasing an additional 524,325 shares during the quarter. Hormel Foods comprises about 1.5% of Champlain Investment Partners LLC’s holdings, making the stock its 13th biggest position. Champlain Investment Partners LLC’s holdings in Hormel Foods were worth $134,069,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Cornerstone Capital Inc. purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $272,000. Bbva Compass Bancshares Inc. purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $205,000. Financial Counselors Inc. increased its stake in shares of Hormel Foods by 4.3% in the 4th quarter. Financial Counselors Inc. now owns 188,138 shares of the company’s stock valued at $6,846,000 after purchasing an additional 7,811 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Hormel Foods in the 4th quarter valued at about $1,641,000. Finally, First Republic Investment Management Inc. increased its stake in shares of Hormel Foods by 3.5% in the 4th quarter. First Republic Investment Management Inc. now owns 45,577 shares of the company’s stock valued at $1,659,000 after purchasing an additional 1,525 shares in the last quarter. Hedge funds and other institutional investors own 38.65% of the company’s stock.
HRL has been the subject of several recent analyst reports. Morgan Stanley initiated coverage on Hormel Foods in a research note on Friday, November 3rd. They issued an “underweight” rating and a $26.00 price target for the company. BMO Capital Markets restated a “buy” rating and issued a $38.00 price target on shares of Hormel Foods in a research note on Monday, November 6th. Piper Jaffray Companies assumed coverage on Hormel Foods in a research note on Thursday, January 4th. They set an “overweight” rating and a $42.00 price objective for the company. Zacks Investment Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, February 5th. Finally, KeyCorp assumed coverage on Hormel Foods in a research note on Tuesday, October 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Hormel Foods currently has an average rating of “Hold” and an average price target of $35.10.
Shares of Hormel Foods Corp (NYSE:HRL) opened at $32.64 on Monday. Hormel Foods Corp has a 52 week low of $29.75 and a 52 week high of $38.00. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $17,285.65, a P/E ratio of 20.66, a price-to-earnings-growth ratio of 1.92 and a beta of 0.49.
Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 9.92%. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.44 EPS. equities analysts anticipate that Hormel Foods Corp will post 1.82 earnings per share for the current year.
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About Hormel Foods
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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