Hormel Foods Corp (HRL) Shares Sold by State of Wisconsin Investment Board

State of Wisconsin Investment Board lessened its stake in Hormel Foods Corp (NYSE:HRL) by 10.6% in the 4th quarter, HoldingsChannel reports. The fund owned 638,636 shares of the company’s stock after selling 75,360 shares during the period. State of Wisconsin Investment Board’s holdings in Hormel Foods were worth $23,240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. AMG National Trust Bank boosted its stake in Hormel Foods by 12.5% in the fourth quarter. AMG National Trust Bank now owns 469,601 shares of the company’s stock valued at $17,089,000 after acquiring an additional 52,000 shares in the last quarter. Olstein Capital Management L.P. boosted its stake in Hormel Foods by 9.9% in the fourth quarter. Olstein Capital Management L.P. now owns 167,000 shares of the company’s stock valued at $6,077,000 after acquiring an additional 15,000 shares in the last quarter. Toronto Dominion Bank boosted its stake in Hormel Foods by 13.6% in the fourth quarter. Toronto Dominion Bank now owns 117,225 shares of the company’s stock valued at $4,266,000 after acquiring an additional 14,073 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Hormel Foods by 76.8% in the fourth quarter. Wells Fargo & Company MN now owns 896,231 shares of the company’s stock valued at $32,615,000 after acquiring an additional 389,176 shares in the last quarter. Finally, First Trust Advisors LP boosted its stake in Hormel Foods by 9.7% in the fourth quarter. First Trust Advisors LP now owns 1,601,532 shares of the company’s stock valued at $58,280,000 after acquiring an additional 141,430 shares in the last quarter. Institutional investors own 38.65% of the company’s stock.

A number of equities research analysts have recently commented on HRL shares. Zacks Investment Research raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 target price for the company in a report on Thursday, November 23rd. BMO Capital Markets reaffirmed a “buy” rating and issued a $38.00 target price on shares of Hormel Foods in a report on Monday, November 6th. Jefferies Group raised shares of Hormel Foods from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a report on Wednesday, February 14th. Mizuho set a $34.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a report on Saturday, November 25th. Finally, Credit Suisse Group set a $33.00 target price on shares of Hormel Foods and gave the company a “hold” rating in a report on Friday, November 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $35.30.

In related news, Director Elsa A. Murano sold 7,129 shares of the stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $36.00, for a total transaction of $256,644.00. Following the completion of the transaction, the director now directly owns 90,991 shares of the company’s stock, valued at $3,275,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman James P. Snee sold 7,616 shares of the stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $34.16, for a total transaction of $260,162.56. The disclosure for this sale can be found here. Insiders have sold 131,001 shares of company stock valued at $4,612,826 over the last three months. 1.48% of the stock is currently owned by corporate insiders.

Shares of Hormel Foods Corp (NYSE HRL) opened at $33.80 on Wednesday. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $38.00. The company has a quick ratio of 1.04, a current ratio of 1.91 and a debt-to-equity ratio of 0.05. The company has a market cap of $18,191.24, a PE ratio of 21.74, a PEG ratio of 2.10 and a beta of 0.49.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Tuesday, November 21st. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.41 billion. Hormel Foods had a net margin of 9.24% and a return on equity of 17.87%. The firm’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. sell-side analysts anticipate that Hormel Foods Corp will post 1.75 EPS for the current fiscal year.

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Hormel Foods Profile

Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.

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

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