Moody National Bank Trust Division Invests $295,000 in Hormel Foods Co. (NYSE:HRL)

Moody National Bank Trust Division acquired a new position in shares of Hormel Foods Co. (NYSE:HRLGet Rating) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,234 shares of the company’s stock, valued at approximately $295,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Regentatlantic Capital LLC lifted its position in Hormel Foods by 2.6% in the first quarter. Regentatlantic Capital LLC now owns 8,267 shares of the company’s stock worth $426,000 after purchasing an additional 210 shares during the period. ICW Investment Advisors LLC lifted its position in Hormel Foods by 0.6% in the first quarter. ICW Investment Advisors LLC now owns 37,134 shares of the company’s stock worth $1,914,000 after purchasing an additional 215 shares during the period. CENTRAL TRUST Co lifted its position in Hormel Foods by 14.2% in the first quarter. CENTRAL TRUST Co now owns 1,804 shares of the company’s stock worth $93,000 after purchasing an additional 225 shares during the period. Arizona State Retirement System lifted its position in Hormel Foods by 0.3% in the first quarter. Arizona State Retirement System now owns 81,882 shares of the company’s stock worth $4,220,000 after purchasing an additional 226 shares during the period. Finally, Wetherby Asset Management Inc. lifted its position in Hormel Foods by 3.6% in the fourth quarter. Wetherby Asset Management Inc. now owns 6,923 shares of the company’s stock worth $338,000 after purchasing an additional 239 shares during the period. 39.95% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Christopher J. Policinski sold 2,110 shares of Hormel Foods stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total transaction of $97,629.70. Following the completion of the sale, the director now directly owns 85,254 shares in the company, valued at approximately $3,944,702.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Kevin L. Myers sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $47.20, for a total value of $236,000.00. Following the completion of the sale, the senior vice president now directly owns 32,954 shares in the company, valued at approximately $1,555,428.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Christopher J. Policinski sold 2,110 shares of the business’s stock in a transaction that occurred on Thursday, June 23rd. The stock was sold at an average price of $46.27, for a total value of $97,629.70. Following the completion of the sale, the director now owns 85,254 shares of the company’s stock, valued at $3,944,702.58. The disclosure for this sale can be found here. 0.78% of the stock is owned by corporate insiders.

Hormel Foods Trading Up 1.0 %

Shares of NYSE HRL opened at $46.26 on Tuesday. Hormel Foods Co. has a one year low of $40.48 and a one year high of $55.11. The firm has a market capitalization of $25.27 billion, a PE ratio of 25.28, a PEG ratio of 3.46 and a beta of 0.12. The company has a current ratio of 2.40, a quick ratio of 1.21 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average price of $48.68 and a two-hundred day moving average price of $49.42.

Hormel Foods (NYSE:HRLGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Hormel Foods had a return on equity of 13.92% and a net margin of 7.93%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3 billion. During the same quarter in the previous year, the business posted $0.39 earnings per share. The company’s revenue was up 6.0% compared to the same quarter last year. As a group, analysts predict that Hormel Foods Co. will post 1.81 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Piper Sandler cut their target price on Hormel Foods from $48.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, September 2nd. Credit Suisse Group dropped their price target on Hormel Foods to $44.00 in a report on Friday, June 3rd. Finally, Stephens dropped their price target on Hormel Foods to $52.00 in a report on Tuesday, September 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods has an average rating of “Hold” and an average price target of $48.67.

About Hormel Foods

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Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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

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