Hormel Foods Co. (NYSE:HRL) Shares Bought by Choreo LLC

Choreo LLC boosted its holdings in Hormel Foods Co. (NYSE:HRL) by 53.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,276 shares of the company’s stock after buying an additional 10,590 shares during the quarter. Choreo LLC’s holdings in Hormel Foods were worth $921,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. EverSource Wealth Advisors LLC raised its position in shares of Hormel Foods by 688.3% during the first quarter. EverSource Wealth Advisors LLC now owns 741 shares of the company’s stock worth $26,000 after purchasing an additional 647 shares during the period. CVA Family Office LLC purchased a new position in Hormel Foods in the 1st quarter worth about $31,000. International Assets Investment Management LLC acquired a new stake in Hormel Foods during the 2nd quarter worth about $34,000. Central Valley Advisors LLC acquired a new position in shares of Hormel Foods in the second quarter worth about $37,000. Finally, Register Financial Advisors LLC purchased a new position in shares of Hormel Foods in the first quarter worth approximately $42,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Trading Up 0.9 %

Shares of NYSE:HRL opened at $31.64 on Friday. The firm has a fifty day moving average of $31.83 and a two-hundred day moving average of $32.94. The company has a quick ratio of 1.03, a current ratio of 2.29 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 12-month low of $28.51 and a 12-month high of $39.58. The firm has a market capitalization of $17.35 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 3.21 and a beta of 0.25.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. On average, equities analysts expect that Hormel Foods Co. will post 1.58 EPS for the current fiscal year.

Analysts Set New Price Targets

HRL has been the subject of several research analyst reports. Citigroup upgraded shares of Hormel Foods from a “neutral” rating to a “buy” rating and upped their price target for the company from $33.00 to $37.00 in a research report on Tuesday, August 13th. JPMorgan Chase & Co. raised Hormel Foods from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. Finally, Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Hormel Foods in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average price target of $32.33.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.