184,262 Shares in Hormel Foods Corporation (HRL) Purchased by Isthmus Partners LLC

Isthmus Partners LLC bought a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 184,262 shares of the company’s stock, valued at approximately $6,285,000. Hormel Foods Corporation comprises about 1.8% of Isthmus Partners LLC’s holdings, making the stock its 23rd largest position.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HRL. BlackRock Inc. raised its stake in Hormel Foods Corporation by 1,105.9% during the first quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after buying an additional 17,416,591 shares during the last quarter. State Street Corp raised its stake in Hormel Foods Corporation by 93.3% during the first quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. Westwood Holdings Group Inc. raised its stake in Hormel Foods Corporation by 738.9% during the first quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after buying an additional 2,230,574 shares during the last quarter. Vanguard Group Inc. raised its stake in Hormel Foods Corporation by 5.6% during the first quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new position in Hormel Foods Corporation during the first quarter worth $50,220,000. 38.95% of the stock is owned by institutional investors and hedge funds.

In related news, insider Thomas R. Day sold 11,139 shares of the stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the completion of the transaction, the insider now directly owns 24,838 shares in the company, valued at approximately $830,334.34. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the transaction, the director now owns 92,377 shares of the company’s stock, valued at $2,919,113.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 165,843 shares of company stock valued at $5,235,409. 3.54% of the stock is owned by company insiders.

Hormel Foods Corporation (NYSE:HRL) traded up 0.67% during midday trading on Monday, hitting $31.59. 626,464 shares of the stock traded hands. The stock has a market capitalization of $16.67 billion, a P/E ratio of 19.50 and a beta of 0.58. Hormel Foods Corporation has a 52 week low of $30.50 and a 52 week high of $38.84. The stock’s 50-day moving average price is $32.74 and its 200-day moving average price is $33.93.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a return on equity of 18.90% and a net margin of 9.38%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 earnings per share. Equities research analysts expect that Hormel Foods Corporation will post $1.56 EPS for the current fiscal year.

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Several research firms have weighed in on HRL. Zacks Investment Research raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, September 11th. Credit Suisse Group dropped coverage on shares of Hormel Foods Corporation in a research note on Saturday, August 26th. They issued an “outperform” rating for the company. Barclays PLC decreased their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating for the company in a research note on Friday, August 25th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $38.00 price target (down from $45.00) on shares of Hormel Foods Corporation in a research note on Friday, August 25th. Finally, Buckingham Research decreased their price target on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a research note on Friday, August 25th. Six analysts have rated the stock with a hold rating and five have given a buy rating to the company. Hormel Foods Corporation currently has a consensus rating of “Hold” and an average target price of $38.30.

Hormel Foods Corporation Profile

Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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