XTX Topco Ltd Buys Shares of 45,527 Hormel Foods Co. (NYSE:HRL)

XTX Topco Ltd purchased a new position in Hormel Foods Co. (NYSE:HRL) in the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 45,527 shares of the company’s stock, valued at approximately $1,388,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. EverSource Wealth Advisors LLC lifted its position in 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 during the period. CVA Family Office LLC acquired a new stake in shares of Hormel Foods in the first quarter valued at $31,000. International Assets Investment Management LLC bought a new position in Hormel Foods during the second quarter valued at about $34,000. Central Valley Advisors LLC bought a new position in Hormel Foods during the second quarter valued at about $37,000. Finally, Register Financial Advisors LLC acquired a new position in Hormel Foods during the first quarter worth about $42,000. 40.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Hormel Foods Stock Down 1.1 %

HRL stock opened at $31.77 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.29 and a quick ratio of 1.03. The firm has a market capitalization of $17.42 billion, a P/E ratio of 22.69, a P/E/G ratio of 3.10 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 company’s 50 day simple moving average is $32.04 and its 200-day simple moving average is $32.94.

Hormel Foods (NYSE:HRL) last announced its earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.01. The company had revenue of $2.90 billion for 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%. The company’s revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 EPS. As a group, equities research analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Stephens reaffirmed an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price target for the company from $28.00 to $29.00 in a report on Friday, May 31st. One equities 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 stock. According to data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average price target of $32.33.

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.