Hormel Foods Co. (NYSE:HRL) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale lowered its position in Hormel Foods Co. (NYSE:HRL) by 19.7% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 56,885 shares of the company’s stock after selling 13,944 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hormel Foods were worth $1,715,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC boosted its position in Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 647 shares in the last quarter. CVA Family Office LLC acquired a new position in shares of Hormel Foods during the 1st quarter worth approximately $31,000. International Assets Investment Management LLC acquired a new position in shares of Hormel Foods during the 2nd quarter worth approximately $34,000. Central Valley Advisors LLC purchased a new position in shares of Hormel Foods during the 2nd quarter valued at approximately $37,000. Finally, Register Financial Advisors LLC acquired a new stake in Hormel Foods in the 1st quarter valued at $42,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hormel Foods news, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the sale, the senior vice president now directly owns 39,050 shares of the company’s stock, valued at approximately $1,276,935. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Kevin L. Myers sold 10,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $32.70, for a total value of $327,000.00. Following the completion of the sale, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Deanna T. Brady sold 51,600 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the sale, the executive vice president now owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The disclosure for this sale can be found here. 0.69% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on HRL. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and upped their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, Stephens reaffirmed an “equal weight” rating and issued a $32.00 price target on shares of Hormel Foods in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and a consensus target price of $32.33.

Hormel Foods Price Performance

Hormel Foods stock opened at $32.13 on Friday. The company has a fifty day simple moving average of $32.03 and a 200-day simple moving average of $32.95. The firm has a market capitalization of $17.62 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 3.10 and a beta of 0.25. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52-week low of $28.51 and a 52-week high of $39.58.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. Hormel Foods’s quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. On average, equities analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.