Hormel Foods Co. (NYSE:HRL) Shares Bought by Achmea Investment Management B.V.

Achmea Investment Management B.V. increased its stake in Hormel Foods Co. (NYSE:HRL) by 19.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,653 shares of the company’s stock after acquiring an additional 4,382 shares during the quarter. Achmea Investment Management B.V.’s holdings in Hormel Foods were worth $812,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HRL. ProShare Advisors LLC increased its stake in Hormel Foods by 9.9% in the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock worth $196,729,000 after purchasing an additional 505,942 shares in the last quarter. Mairs & Power Inc. raised its holdings in shares of Hormel Foods by 2.0% during the fourth quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after acquiring an additional 108,944 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Hormel Foods by 97.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after acquiring an additional 1,434,437 shares in the last quarter. Stifel Financial Corp lifted its position in shares of Hormel Foods by 5.8% in the 4th quarter. Stifel Financial Corp now owns 2,654,609 shares of the company’s stock valued at $85,239,000 after acquiring an additional 144,605 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Hormel Foods by 8.2% in the 4th quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock worth $82,963,000 after purchasing an additional 196,460 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

HRL has been the subject of a number of research analyst reports. Stephens restated an “equal weight” rating and issued a $32.00 target price on shares of Hormel Foods in a report on Friday, May 31st. Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $29.00 in a research 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 company. According to MarketBeat.com, Hormel Foods presently has an average rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Trading Up 1.5 %

NYSE HRL opened at $32.08 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $39.58. The firm’s fifty day simple moving average is $31.87 and its 200-day simple moving average is $32.96. The company has a market capitalization of $17.59 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last issued its earnings results on Wednesday, September 4th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.95 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. The business’s quarterly revenue was down 2.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current fiscal year.

About Hormel Foods

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.