Robeco Institutional Asset Management B.V. Decreases Position in Hormel Foods Co. (NYSE:HRL)

Robeco Institutional Asset Management B.V. lowered its stake in shares of Hormel Foods Co. (NYSE:HRL – Get Rating) by 1.8% during the third quarter, Holdings Channel reports. The fund owned 323,928 shares of the company’s stock after selling 5,854 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Hormel Foods were worth $14,717,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HRL. Utah Retirement Systems increased its holdings in Hormel Foods by 1.8% during the 3rd quarter. Utah Retirement Systems now owns 51,351 shares of the company’s stock worth $2,334,000 after purchasing an additional 900 shares during the period. Hartford Investment Management Co. raised its holdings in Hormel Foods by 2.3% in the third quarter. Hartford Investment Management Co. now owns 27,583 shares of the company’s stock valued at $1,253,000 after acquiring an additional 623 shares in the last quarter. FORA Capital LLC lifted its stake in Hormel Foods by 15.1% in the third quarter. FORA Capital LLC now owns 9,487 shares of the company’s stock worth $431,000 after acquiring an additional 1,244 shares during the last quarter. Oppenheimer & Co. Inc. grew its holdings in Hormel Foods by 13.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 44,533 shares of the company’s stock worth $2,024,000 after acquiring an additional 5,182 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Hormel Foods by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,040,460 shares of the company’s stock valued at $1,592,240,000 after purchasing an additional 736,656 shares during the last quarter. 39.74% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Down 2.1 %

Shares of NYSE HRL opened at $38.35 on Friday. The business has a 50-day moving average price of $43.92 and a 200 day moving average price of $45.68. The stock has a market cap of $20.96 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.86 and a beta of 0.18. The company has a quick ratio of 1.07, a current ratio of 2.33 and a debt-to-equity ratio of 0.43. Hormel Foods Co. has a 52-week low of $38.22 and a 52-week high of $55.11.

Hormel Foods (NYSE:HRL – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.05). The firm had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.08 billion. Hormel Foods had a net margin of 7.90% and a return on equity of 13.10%. Hormel Foods’s revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 earnings per share. Equities research analysts forecast that Hormel Foods Co. will post 1.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Credit Suisse Group decreased their price objective on shares of Hormel Foods from $44.00 to $41.00 and set a “neutral” rating for the company in a research report on Friday, March 3rd. Stephens lowered their price objective on Hormel Foods from $52.00 to $47.00 and set an “equal weight” rating for the company in a research report on Monday, March 6th. TheStreet downgraded Hormel Foods from a “b” rating to a “c+” rating in a report on Thursday, March 2nd. StockNews.com began coverage on Hormel Foods in a research note on Thursday. They set a “hold” rating for the company. Finally, Bank of America dropped their price target on shares of Hormel Foods from $45.00 to $41.00 in a research note on Monday, March 6th. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $44.71.

Hormel Foods Company Profile

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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.