Hormel Foods Co. (NYSE:HRL) Position Reduced by Ieq Capital LLC

Ieq Capital LLC trimmed its stake in shares of Hormel Foods Co. (NYSE:HRL) by 28.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,976 shares of the company’s stock after selling 5,915 shares during the quarter. Ieq Capital LLC’s holdings in Hormel Foods were worth $470,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in HRL. Raymond James & Associates boosted its stake in Hormel Foods by 4.9% during the 3rd quarter. Raymond James & Associates now owns 164,216 shares of the company’s stock valued at $5,206,000 after acquiring an additional 7,663 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Hormel Foods by 3,481.2% during the 3rd quarter. International Assets Investment Management LLC now owns 40,432 shares of the company’s stock valued at $12,820,000 after acquiring an additional 39,303 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Hormel Foods by 33.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,186 shares of the company’s stock valued at $1,465,000 after acquiring an additional 11,550 shares during the last quarter. Forsta AP Fonden lifted its position in shares of Hormel Foods by 95.7% in the 3rd quarter. Forsta AP Fonden now owns 58,500 shares of the company’s stock worth $1,854,000 after buying an additional 28,600 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in shares of Hormel Foods by 22.4% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 104,648 shares of the company’s stock worth $3,317,000 after buying an additional 19,118 shares during the last quarter. 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. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Citigroup reduced their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.17.

Hormel Foods Trading Down 2.4 %

Shares of NYSE:HRL opened at $28.73 on Thursday. The company has a market cap of $15.77 billion, a PE ratio of 19.67, a P/E/G ratio of 2.73 and a beta of 0.26. The company’s 50-day moving average price is $30.13 and its 200 day moving average price is $31.09. Hormel Foods Co. has a fifty-two week low of $28.03 and a fifty-two week high of $36.86. 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 (NYSE:HRL) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The firm had revenue of $3.14 billion during the quarter, compared to the consensus estimate of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.42 earnings per share. Sell-side analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current year.

Insider Buying and Selling at Hormel Foods

In related news, VP Steven J. Lykken bought 4,904 shares of the stock in a transaction on Friday, December 6th. The shares were purchased at an average price of $32.47 per share, with a total value of $159,232.88. Following the purchase, the vice president now owns 7,100 shares in the company, valued at approximately $230,537. This represents a 223.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.72% of the stock is owned by corporate insiders.

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.