XTX Topco Ltd Acquires Shares of 45,527 Hormel Foods Co. (NYSE:HRL)

XTX Topco Ltd bought a new position in shares of Hormel Foods Co. (NYSE:HRL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 45,527 shares of the company’s stock, valued at approximately $1,388,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blair William & Co. IL boosted its position in Hormel Foods by 14.9% in the 2nd quarter. Blair William & Co. IL now owns 7,238 shares of the company’s stock valued at $221,000 after buying an additional 937 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Hormel Foods by 1.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock valued at $959,000 after purchasing an additional 384 shares during the last quarter. WealthPLAN Partners LLC grew its stake in Hormel Foods by 1,493.3% during the 2nd quarter. WealthPLAN Partners LLC now owns 147,425 shares of the company’s stock valued at $4,495,000 after purchasing an additional 138,172 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Hormel Foods by 24.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock worth $90,738,000 after purchasing an additional 575,378 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Hormel Foods by 4.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 864,858 shares of the company’s stock valued at $26,370,000 after purchasing an additional 33,998 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $31.95, for a total transaction of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares in the company, valued at approximately $2,313,850.95. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, SVP Kevin L. Myers sold 10,000 shares of Hormel Foods stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total transaction of $327,000.00. Following the sale, the senior vice president now owns 39,050 shares of the company’s stock, valued at $1,276,935. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $31.95, for a total value of $1,648,620.00. Following the completion of the transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The disclosure for this sale can be found here. Company insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HRL. Stephens restated an “equal weight” rating and issued a $32.00 price target on shares of Hormel Foods in a research note on Friday, May 31st. JPMorgan Chase & Co. upgraded shares of Hormel Foods from an “underweight” rating to a “neutral” rating and upped their target price for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Finally, Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average price target of $32.33.

Hormel Foods Stock Down 1.1 %

Shares of NYSE:HRL opened at $31.77 on Friday. The company’s fifty day moving average is $32.04 and its two-hundred day moving average is $32.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $39.58. The stock has a market capitalization of $17.42 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 3.10 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 for the quarter, topping the consensus estimate of $0.36 by $0.01. Hormel Foods had a net margin of 6.52% and a return on equity of 11.03%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Hormel Foods’s quarterly revenue was down 2.2% on a year-over-year basis. Equities analysts anticipate that Hormel Foods Co. will post 1.58 EPS for the current year.

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.