Metis Global Partners LLC Grows Position in Hormel Foods Co. (NYSE:HRL)

Metis Global Partners LLC grew its stake in Hormel Foods Co. (NYSE:HRL) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,299 shares of the company’s stock after acquiring an additional 2,064 shares during the quarter. Metis Global Partners LLC’s holdings in Hormel Foods were worth $668,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. State of Alaska Department of Revenue boosted its stake in shares of Hormel Foods by 7.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 33,726 shares of the company’s stock worth $1,069,000 after purchasing an additional 2,290 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Hormel Foods by 9.1% during the third quarter. Nisa Investment Advisors LLC now owns 18,053 shares of the company’s stock valued at $572,000 after buying an additional 1,510 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Hormel Foods by 56.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 28,171 shares of the company’s stock worth $893,000 after acquiring an additional 10,163 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in Hormel Foods by 0.4% during the third quarter. Asset Management One Co. Ltd. now owns 250,157 shares of the company’s stock worth $7,930,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Catalyst Capital Advisors LLC purchased a new stake in Hormel Foods in the 3rd quarter worth approximately $91,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Insider Transactions at Hormel Foods

In other Hormel Foods news, VP Steven J. Lykken purchased 4,904 shares of Hormel Foods stock in a transaction on Friday, December 6th. The shares were purchased 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 directly owns 7,100 shares in the company, valued at approximately $230,537. This represents a 223.32 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.72% of the company’s stock.

Hormel Foods Trading Down 1.9 %

HRL stock opened at $28.92 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The company has a market cap of $15.88 billion, a price-to-earnings ratio of 19.81, a PEG ratio of 2.73 and a beta of 0.26. The business has a fifty day simple moving average of $29.91 and a 200-day simple moving average of $30.99. Hormel Foods Co. has a 52 week low of $27.59 and a 52 week high of $36.86.

Hormel Foods (NYSE:HRL) last announced its quarterly 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 firm 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 business’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 earnings per share. On average, equities research analysts expect that Hormel Foods Co. will post 1.65 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 22nd. Citigroup decreased their price target 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, Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $31.80.

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.