Hormel Foods Co. (NYSE:HRL) Shares Sold by Wealthspire Advisors LLC

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

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Crews Bank & Trust acquired a new position in shares of Hormel Foods in the fourth quarter worth about $25,000. Brooklyn Investment Group acquired a new position in shares of Hormel Foods in the third quarter worth about $32,000. Prospera Private Wealth LLC acquired a new position in shares of Hormel Foods in the third quarter worth about $39,000. Capital Performance Advisors LLP acquired a new position in shares of Hormel Foods in the third quarter worth about $47,000. Finally, McIlrath & Eck LLC lifted 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 in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HRL. Stephens reiterated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Tuesday, February 18th. Citigroup cut their price objective on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research note on Tuesday, November 19th. Finally, Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Hormel Foods currently has a consensus rating of “Hold” and a consensus target price of $31.17.

Insider Activity

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

Hormel Foods Trading Up 2.8 %

Shares of NYSE HRL opened at $29.66 on Monday. The stock’s 50 day moving average price is $30.31 and its two-hundred day moving average price is $31.14. Hormel Foods Co. has a 52-week low of $28.03 and a 52-week high of $36.86. The stock has a market capitalization of $16.28 billion, a P/E ratio of 20.31, a PEG ratio of 2.73 and a beta of 0.26. 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 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 company had revenue of $3.14 billion for 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 firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, analysts anticipate that Hormel Foods Co. will post 1.65 earnings per share for the current fiscal year.

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.