Coldstream Capital Management Inc. Purchases 41,980 Shares of Hormel Foods Co. (NYSE:HRL)

Coldstream Capital Management Inc. boosted its position in shares of Hormel Foods Co. (NYSE:HRL) by 627.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 48,670 shares of the company’s stock after buying an additional 41,980 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Hormel Foods were worth $1,484,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Hormel Foods by 688.3% during the 1st quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock valued at $26,000 after buying an additional 647 shares during the last quarter. CVA Family Office LLC purchased a new position in Hormel Foods during the 1st quarter valued at $31,000. International Assets Investment Management LLC purchased a new position in Hormel Foods during the 2nd quarter valued at $34,000. Central Valley Advisors LLC purchased a new position in Hormel Foods during the 2nd quarter valued at $37,000. Finally, Register Financial Advisors LLC purchased a new position in Hormel Foods during the 1st quarter valued at $42,000. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and increased their price objective for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, Stephens reissued an “equal weight” rating and set a $32.00 price objective on shares of Hormel Foods in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Trading Down 2.7 %

Shares of HRL opened at $31.34 on Thursday. The company’s fifty day moving average is $31.80 and its 200 day moving average is $32.95. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $39.58. The stock has a market capitalization of $17.18 billion, a PE ratio of 22.39, a P/E/G ratio of 3.21 and a beta of 0.25. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

About Hormel Foods

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.