Hormel Foods Co. (NYSE:HRL) Stock Holdings Cut by Wealthspire Advisors LLC

Wealthspire Advisors LLC lessened its stake in shares of Hormel Foods Co. (NYSE:HRL) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 96,722 shares of the company’s stock after selling 3,376 shares during the period. Wealthspire Advisors LLC’s holdings in Hormel Foods were worth $3,034,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Hormel Foods in the fourth quarter valued at $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods in the third quarter worth $32,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods in the third quarter worth $39,000. Capital Performance Advisors LLP acquired a new position in shares of Hormel Foods in the third quarter worth $47,000. Finally, McIlrath & Eck LLC increased its stake in shares of Hormel Foods by 47.5% in the third quarter. McIlrath & Eck LLC now owns 1,981 shares of the company’s stock worth $63,000 after acquiring an additional 638 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the topic of a number of research reports. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Citigroup dropped 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 note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Hormel Foods presently has a consensus rating of “Hold” and an average price target of $31.17.

Insider Activity

In other Hormel Foods news, VP Steven J. Lykken purchased 4,904 shares of the stock in a transaction dated Friday, December 6th. The shares were bought at an average cost of $32.47 per share, with a total value of $159,232.88. Following the completion of the transaction, the vice president now owns 7,100 shares in the company, valued at $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.72% of the stock is currently owned by company insiders.

Hormel Foods Trading Up 2.8 %

Hormel Foods stock opened at $29.66 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.32 and a quick ratio of 1.19. The company has a market capitalization of $16.28 billion, a price-to-earnings ratio of 20.31, a PEG ratio of 2.73 and a beta of 0.26. Hormel Foods Co. has a one year low of $28.03 and a one year high of $36.86. The company’s fifty day moving average price is $30.31 and its two-hundred day moving average price is $31.14.

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

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.