MML Investors Services LLC lessened its position in Hormel Foods Co. (NYSE:HRL – Get Rating) by 34.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,174 shares of the company’s stock after selling 4,265 shares during the quarter. MML Investors Services LLC’s holdings in Hormel Foods were worth $371,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Hormel Foods in the first quarter valued at $41,000. Altshuler Shaham Ltd increased its stake in Hormel Foods by 879.6% in the third quarter. Altshuler Shaham Ltd now owns 1,107 shares of the company’s stock valued at $51,000 after acquiring an additional 994 shares during the last quarter. Old North State Trust LLC bought a new position in Hormel Foods in the third quarter valued at $59,000. Clear Street Markets LLC increased its stake in Hormel Foods by 132.9% in the third quarter. Clear Street Markets LLC now owns 1,374 shares of the company’s stock valued at $62,000 after acquiring an additional 784 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of Hormel Foods by 56.5% during the second quarter. Jones Financial Companies Lllp now owns 1,571 shares of the company’s stock valued at $74,000 after buying an additional 567 shares during the last quarter. Institutional investors own 39.74% of the company’s stock.
In other news, VP Patrick J. Connor sold 1,577 shares of Hormel Foods stock in a transaction that occurred on Wednesday, December 14th. The shares were sold at an average price of $46.88, for a total transaction of $73,929.76. Following the completion of the transaction, the vice president now directly owns 22,682 shares in the company, valued at $1,063,332.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.81% of the company’s stock.
Wall Street Analysts Forecast Growth
Hormel Foods Stock Performance
Shares of HRL opened at $40.23 on Thursday. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.33 and a quick ratio of 1.07. Hormel Foods Co. has a one year low of $39.85 and a one year high of $55.11. The company has a 50-day simple moving average of $44.85 and a two-hundred day simple moving average of $46.23. The firm has a market capitalization of $21.99 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 3.98 and a beta of 0.18.
Hormel Foods (NYSE:HRL – Get Rating) last issued its quarterly earnings data on Thursday, March 2nd. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Hormel Foods had a return on equity of 13.10% and a net margin of 7.90%. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, analysts anticipate that Hormel Foods Co. will post 1.75 EPS for the current fiscal year.
About Hormel Foods
Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.
- Get a free copy of the StockNews.com research report on Hormel Foods (HRL)
- META Platforms May See its Biggest Opening Yet for New Highs
- Penny Stock Vinco Ventures Could Be Big Winner
- Is Chip Design Specialist Synopsys A Gem Hiding In Plain Sight?
- Should You Park Some Capital with Casey’s General Stores?
- Crowdstrike Stock: While The Iron Is Hot!
Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Co. (NYSE:HRL – Get Rating).
Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.