Curbstone Financial Management Corp Sells 600 Shares of Hormel Foods Co. (NYSE:HRL)

Curbstone Financial Management Corp trimmed its position in shares of Hormel Foods Co. (NYSE:HRL) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,101 shares of the company’s stock after selling 600 shares during the quarter. Curbstone Financial Management Corp’s holdings in Hormel Foods were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Credit Suisse AG grew its stake in shares of Hormel Foods by 13.6% during the 4th quarter. Credit Suisse AG now owns 1,210,575 shares of the company’s stock valued at $55,142,000 after purchasing an additional 144,559 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in Hormel Foods by 16.6% during the first quarter. Vanguard Personalized Indexing Management LLC now owns 17,896 shares of the company’s stock valued at $714,000 after buying an additional 2,543 shares during the period. Principal Financial Group Inc. increased its holdings in Hormel Foods by 0.4% during the first quarter. Principal Financial Group Inc. now owns 5,288,934 shares of the company’s stock valued at $210,923,000 after buying an additional 20,418 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Hormel Foods in the first quarter worth approximately $500,000. Finally, Live Oak Investment Partners bought a new stake in shares of Hormel Foods during the 4th quarter valued at $730,000. 41.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hormel Foods

In other news, SVP Pierre M. Lilly purchased 1,454 shares of the business’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $37.25 per share, for a total transaction of $54,161.50. Following the acquisition, the senior vice president now directly owns 1,454 shares of the company’s stock, valued at approximately $54,161.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

HRL has been the topic of several analyst reports. StockNews.com assumed coverage on Hormel Foods in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays reduced their target price on shares of Hormel Foods from $45.00 to $42.00 in a report on Thursday, June 1st. One analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $43.71.

Hormel Foods Price Performance

Shares of NYSE HRL traded up $0.40 during mid-day trading on Thursday, reaching $37.95. The company’s stock had a trading volume of 233,425 shares, compared to its average volume of 2,035,936. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.40 and a quick ratio of 1.09. Hormel Foods Co. has a 52 week low of $36.78 and a 52 week high of $49.73. The stock has a fifty day moving average of $39.55 and a two-hundred day moving average of $39.89. The firm has a market capitalization of $20.74 billion, a PE ratio of 23.32, a P/E/G ratio of 3.82 and a beta of 0.20.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 31st. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.01). Hormel Foods had a return on equity of 12.20% and a net margin of 7.20%. The business had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.66 EPS for the current fiscal year.

About Hormel Foods

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.