Amalgamated Bank Trims Holdings in Hormel Foods Co. (NYSE:HRL)

Amalgamated Bank reduced its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 1.5% during the 4th quarter, HoldingsChannel reports. The firm owned 56,214 shares of the company’s stock after selling 884 shares during the period. Amalgamated Bank’s holdings in Hormel Foods were worth $1,763,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new position in shares of Hormel Foods in the 3rd quarter valued at approximately $32,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods in the third quarter valued at approximately $39,000. Capital Performance Advisors LLP purchased a new stake in shares of Hormel Foods during the third quarter worth approximately $47,000. Finally, Capital Advisors Ltd. LLC lifted its holdings in shares of Hormel Foods by 86.9% during the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company’s stock worth $47,000 after purchasing an additional 690 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Performance

Shares of HRL opened at $28.58 on Monday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86. The company has a 50-day simple moving average of $30.00 and a 200-day simple moving average of $31.04. The company has a market capitalization of $15.69 billion, a PE ratio of 19.57, a P/E/G ratio of 2.73 and a beta of 0.26.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). The company had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period last year, the business posted $0.42 earnings per share. Equities research analysts predict that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Steven J. Lykken purchased 4,904 shares of the company’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the transaction, the vice president now directly owns 7,100 shares in the company, valued at $230,537. This represents a 223.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.72% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Stephens reissued an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Finally, Citigroup reduced their price objective on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $31.80.

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.