Amalgamated Bank lifted its position in Hormel Foods Corp (NYSE:HRL) by 9.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,924 shares of the company’s stock after buying an additional 3,032 shares during the quarter. Amalgamated Bank’s holdings in Hormel Foods were worth $1,234,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Dupont Capital Management Corp purchased a new stake in shares of Hormel Foods in the 3rd quarter valued at $100,000. Steward Partners Investment Advisory LLC raised its holdings in shares of Hormel Foods by 3,200.0% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock valued at $120,000 after buying an additional 3,200 shares during the period. Bbva Compass Bancshares Inc. purchased a new stake in shares of Hormel Foods in the 4th quarter valued at $205,000. First Citizens Bank & Trust Co. purchased a new stake in shares of Hormel Foods in the 4th quarter valued at $218,000. Finally, Resources Investment Advisors Inc. purchased a new stake in shares of Hormel Foods in the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 39.40% of the company’s stock.
Several research firms recently issued reports on HRL. Jefferies Group set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a report on Thursday, November 30th. Piper Jaffray Companies began coverage on Hormel Foods in a report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price objective on the stock. Barclays set a $40.00 price objective on Hormel Foods and gave the company an “overweight” rating in a report on Friday, December 1st. Zacks Investment Research downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Mizuho set a $34.00 price objective on Hormel Foods and gave the company a “hold” rating in a report on Saturday, November 25th. One analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the stock. Hormel Foods has an average rating of “Hold” and an average target price of $34.60.
Shares of Hormel Foods Corp (NYSE:HRL) opened at $33.70 on Tuesday. The company has a current ratio of 1.47, a quick ratio of 0.74 and a debt-to-equity ratio of 0.12. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $38.00. The firm has a market capitalization of $17,850.00, a PE ratio of 21.33, a price-to-earnings-growth ratio of 1.99 and a beta of 0.53.
Hormel Foods (NYSE:HRL) last issued its quarterly 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. Hormel Foods had a return on equity of 17.44% and a net margin of 9.92%. The company had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the prior year, the business earned $0.44 EPS. Hormel Foods’s revenue was up 2.1% on a year-over-year basis. equities analysts expect that Hormel Foods Corp will post 1.82 earnings per share for the current year.
Hormel Foods Company Profile
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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