Mercer Global Advisors Inc. ADV Sells 16,990 Shares of Hormel Foods Co. (NYSE:HRL)

Mercer Global Advisors Inc. ADV trimmed its stake in Hormel Foods Co. (NYSE:HRL) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 216,056 shares of the company’s stock after selling 16,990 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Hormel Foods were worth $6,588,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. WealthPLAN Partners LLC grew its holdings in shares of Hormel Foods by 1,493.3% in the 2nd quarter. WealthPLAN Partners LLC now owns 147,425 shares of the company’s stock worth $4,495,000 after purchasing an additional 138,172 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Hormel Foods by 24.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,976,257 shares of the company’s stock valued at $90,738,000 after buying an additional 575,378 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Hormel Foods by 4.1% during the second quarter. Envestnet Asset Management Inc. now owns 864,858 shares of the company’s stock worth $26,370,000 after buying an additional 33,998 shares during the last quarter. HBK Sorce Advisory LLC increased its holdings in shares of Hormel Foods by 28.1% during the second quarter. HBK Sorce Advisory LLC now owns 13,058 shares of the company’s stock worth $398,000 after buying an additional 2,865 shares in the last quarter. Finally, Federated Hermes Inc. raised its stake in shares of Hormel Foods by 142.3% in the second quarter. Federated Hermes Inc. now owns 4,929 shares of the company’s stock valued at $150,000 after acquiring an additional 2,895 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hormel Foods

In other news, EVP Deanna T. Brady sold 51,600 shares of the stock in a transaction 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 transaction, the executive vice president now owns 72,421 shares of the company’s stock, valued at approximately $2,313,850.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now owns 72,421 shares in the company, valued at $2,313,850.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin L. Myers sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $32.70, for a total value of $327,000.00. Following the transaction, the senior vice president now owns 39,050 shares in the company, valued at approximately $1,276,935. The disclosure for this sale can be found here. Insiders own 0.69% of the company’s stock.

Hormel Foods Stock Down 1.1 %

NYSE HRL opened at $31.77 on Friday. The stock has a market capitalization of $17.42 billion, a P/E ratio of 22.69, a price-to-earnings-growth ratio of 3.10 and a beta of 0.25. Hormel Foods Co. has a 52 week low of $28.51 and a 52 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 stock has a fifty day moving average of $32.04 and a 200-day moving average of $32.94.

Hormel Foods (NYSE:HRL) last announced 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. 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 company’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, equities research analysts forecast that Hormel Foods Co. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

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

Hormel Foods 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.