Intech Investment Management LLC Acquires 1,244 Shares of Hormel Foods Co. (NYSE:HRL)

Intech Investment Management LLC grew its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,653 shares of the company’s stock after buying an additional 1,244 shares during the quarter. Intech Investment Management LLC’s holdings in Hormel Foods were worth $6,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. XTX Topco Ltd bought a new stake in Hormel Foods during the 2nd quarter worth about $1,388,000. Blair William & Co. IL lifted its stake 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 purchasing an additional 937 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in Hormel Foods by 1.2% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after purchasing an additional 384 shares during the period. WealthPLAN Partners LLC grew its holdings in Hormel Foods by 1,493.3% during the second 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 period. Finally, Dimensional Fund Advisors LP raised its stake 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 during the period. 40.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HRL has been the topic of several research analyst reports. JPMorgan Chase & Co. upgraded Hormel Foods from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $28.00 to $29.00 in a research note on Friday, May 31st. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and upped their price objective for the company from $33.00 to $37.00 in a research note on Tuesday, August 13th. Finally, Stephens restated an “equal weight” rating and issued a $32.00 price objective on shares of Hormel Foods in a research note on Friday, May 31st. One investment 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. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.33.

Insider Buying and Selling

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

Hormel Foods Price Performance

Shares of NYSE HRL opened at $31.77 on Friday. The firm has a market cap 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. The company has a current ratio of 2.29, a quick ratio of 1.03 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $39.58. The business’s 50 day moving average is $32.04 and its 200-day moving average is $32.93.

Hormel Foods (NYSE:HRL) last announced its 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. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.95 billion. Hormel Foods had a return on equity of 11.03% and a net margin of 6.52%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 earnings per share. Equities research analysts predict 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.