Handelsbanken Fonder AB Takes $218,000 Position in Hormel Foods Corp (HRL)

Handelsbanken Fonder AB bought a new stake in shares of Hormel Foods Corp (NYSE:HRL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 6,000 shares of the company’s stock, valued at approximately $218,000.

Other hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hormel Foods by 3,200.0% during 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 in the last quarter. Bbva Compass Bancshares Inc. bought a new stake in shares of Hormel Foods during the 4th quarter valued at $205,000. Two Sigma Securities LLC bought a new stake in shares of Hormel Foods during the 4th quarter valued at $206,000. First Citizens Bank & Trust Co. bought a new stake in shares of Hormel Foods during the 4th quarter valued at $218,000. Finally, Resources Investment Advisors Inc. bought a new stake in shares of Hormel Foods during the 4th quarter valued at $218,000. Hedge funds and other institutional investors own 39.35% of the company’s stock.

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In other Hormel Foods news, insider Steven G. Binder sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $33.40, for a total value of $668,000.00. Following the completion of the transaction, the insider now owns 31,964 shares of the company’s stock, valued at approximately $1,067,597.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Luis G. Marconi sold 1,000 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $33.88, for a total value of $33,880.00. Following the completion of the transaction, the insider now directly owns 21,532 shares of the company’s stock, valued at approximately $729,504.16. The disclosure for this sale can be found here. In the last three months, insiders sold 32,621 shares of company stock valued at $1,109,949. 3.54% of the stock is owned by insiders.

Hormel Foods stock opened at $32.55 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74. The stock has a market capitalization of $17,237.99, a PE ratio of 20.60, a PEG ratio of 2.06 and a beta of 0.53. Hormel Foods Corp has a 52-week low of $29.75 and a 52-week high of $38.00.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Hormel Foods had a return on equity of 17.44% and a net margin of 9.92%. The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter in the previous year, the firm earned $0.44 EPS. Hormel Foods’s quarterly revenue was up 2.1% compared to the same quarter last year. research analysts expect that Hormel Foods Corp will post 1.69 earnings per share for the current year.

HRL has been the topic of a number of research reports. Credit Suisse Group dropped their target price on shares of Hormel Foods from $36.00 to $33.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Zacks Investment Research raised Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies initiated coverage on Hormel Foods in a research report on Thursday, January 4th. They issued an “overweight” rating and a $42.00 price target for the company. Barclays reaffirmed a “buy” rating and issued a $38.00 price target (down previously from $40.00) on shares of Hormel Foods in a research report on Friday, February 23rd. Finally, Jefferies Group reaffirmed a “buy” rating on shares of Hormel Foods in a research report on Thursday, February 22nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $34.60.

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

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