Diversified Trust Co Decreases Holdings in Hormel Foods Co. (NYSE:HRL)

Diversified Trust Co trimmed its stake in shares of Hormel Foods Co. (NYSE:HRLGet Rating) by 18.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,245 shares of the company’s stock after selling 3,300 shares during the period. Diversified Trust Co’s holdings in Hormel Foods were worth $675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of Hormel Foods by 1.7% in the first quarter. Vanguard Group Inc. now owns 33,500,871 shares of the company’s stock valued at $1,726,636,000 after buying an additional 547,495 shares during the last quarter. State Street Corp raised its position in shares of Hormel Foods by 3.8% in the fourth quarter. State Street Corp now owns 29,141,779 shares of the company’s stock valued at $1,422,410,000 after buying an additional 1,079,695 shares during the last quarter. BlackRock Inc. raised its position in shares of Hormel Foods by 2.0% in the fourth quarter. BlackRock Inc. now owns 28,688,282 shares of the company’s stock valued at $1,400,275,000 after buying an additional 558,537 shares during the last quarter. Capital International Investors raised its position in shares of Hormel Foods by 21.8% in the fourth quarter. Capital International Investors now owns 13,780,558 shares of the company’s stock valued at $672,613,000 after buying an additional 2,463,310 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Hormel Foods by 0.8% in the first quarter. Principal Financial Group Inc. now owns 5,654,799 shares of the company’s stock valued at $291,449,000 after buying an additional 42,929 shares during the last quarter. 39.95% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Price Performance

Shares of HRL opened at $46.57 on Thursday. Hormel Foods Co. has a 1-year low of $40.48 and a 1-year high of $55.11. The stock has a market cap of $25.44 billion, a PE ratio of 25.45, a P/E/G ratio of 3.50 and a beta of 0.12. The firm has a 50-day simple moving average of $48.58 and a two-hundred day simple moving average of $49.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 2.40 and a quick ratio of 1.21.

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

Insider Activity

In other news, SVP Kevin L. Myers sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $47.20, for a total value of $236,000.00. Following the completion of the transaction, the senior vice president now owns 32,954 shares of the company’s stock, valued at $1,555,428.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

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

Hormel Foods Profile

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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.

See Also

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

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