Hormel Foods Co. (NYSE:HRL) Position Raised by Caprock Group LLC

Caprock Group LLC grew its position in shares of Hormel Foods Co. (NYSE:HRL) by 28.6% during the 2nd quarter, Holdings Channel reports. The firm owned 11,168 shares of the company’s stock after purchasing an additional 2,482 shares during the period. Caprock Group LLC’s holdings in Hormel Foods were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Hormel Foods by 688.3% in 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 bought a new position in Hormel Foods during the first quarter worth about $31,000. International Assets Investment Management LLC bought a new position in Hormel Foods during the second quarter worth $34,000. Central Valley Advisors LLC acquired a new stake in shares of Hormel Foods during the 2nd quarter worth $37,000. Finally, Register Financial Advisors LLC acquired a new position in Hormel Foods during the first quarter worth about $42,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $31.64 on Friday. The firm has a market cap of $17.35 billion, a P/E ratio of 22.60, a P/E/G ratio of 3.21 and a beta of 0.25. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $39.58. The business’s 50 day moving average price is $31.83 and its 200 day moving average price is $32.94. 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 (NYSE:HRL) last posted its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. Hormel Foods’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. On average, sell-side analysts expect that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. Stephens reiterated an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a research report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price objective for the company from $28.00 to $29.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.33.

Hormel Foods Company 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.