Mark Sheptoff Financial Planning LLC Sells 750 Shares of Hormel Foods Co. (NYSE:HRL)

Mark Sheptoff Financial Planning LLC trimmed its stake in shares of Hormel Foods Co. (NYSE:HRL) by 2.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,685 shares of the company’s stock after selling 750 shares during the quarter. Mark Sheptoff Financial Planning LLC’s holdings in Hormel Foods were worth $936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC increased its holdings 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 buying an additional 647 shares in the last quarter. CVA Family Office LLC bought a new position in Hormel Foods in the first quarter valued at about $31,000. International Assets Investment Management LLC bought a new position in Hormel Foods in the second quarter valued at about $34,000. Central Valley Advisors LLC acquired a new stake in shares of Hormel Foods during the second quarter valued at about $37,000. Finally, Register Financial Advisors LLC bought a new stake in shares of Hormel Foods during the first quarter worth about $42,000. Institutional investors own 40.99% of the company’s stock.

Insider Buying and Selling at Hormel Foods

In other news, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 72,421 shares of the company’s stock, valued at $2,313,850.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.69% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Stephens reiterated an “equal weight” rating and set a $32.00 target price on shares of Hormel Foods in a research report on Friday, May 31st. Citigroup upgraded shares of 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 report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and boosted their price objective for the stock from $28.00 to $29.00 in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $32.33.

Hormel Foods Stock Performance

NYSE:HRL opened at $32.41 on Thursday. The company has a market capitalization of $17.77 billion, a PE ratio of 23.15, a P/E/G ratio of 3.10 and a beta of 0.25. Hormel Foods Co. has a fifty-two week low of $28.51 and a fifty-two week high of $39.58. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.03 and a current ratio of 2.29. The company has a 50 day simple moving average of $32.00 and a two-hundred day simple moving average of $32.96.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $0.40 EPS. The business’s revenue was down 2.2% compared to the same quarter last year. Research analysts anticipate that Hormel Foods Co. will post 1.58 earnings per share for the current year.

Hormel Foods Company Profile

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.