Hsbc Holdings PLC Lowers Position in Hormel Foods Co. (NYSE:HRL)

Hsbc Holdings PLC decreased its stake in shares of Hormel Foods Co. (NYSE:HRL) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 608,495 shares of the company’s stock after selling 3,000 shares during the period. Hsbc Holdings PLC owned about 0.11% of Hormel Foods worth $18,526,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Empirical Finance LLC boosted its holdings in Hormel Foods by 3.7% in the 1st quarter. Empirical Finance LLC now owns 9,912 shares of the company’s stock valued at $346,000 after purchasing an additional 352 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of Hormel Foods by 1.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 31,499 shares of the company’s stock worth $959,000 after buying an additional 384 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in Hormel Foods by 2.0% during the first quarter. First Trust Direct Indexing L.P. now owns 20,291 shares of the company’s stock valued at $708,000 after buying an additional 389 shares during the period. Viawealth LLC grew its position in Hormel Foods by 2.4% during the first quarter. Viawealth LLC now owns 17,126 shares of the company’s stock worth $598,000 after buying an additional 401 shares in the last quarter. Finally, D.A. Davidson & CO. increased its stake in Hormel Foods by 4.4% in the 4th quarter. D.A. Davidson & CO. now owns 9,663 shares of the company’s stock worth $310,000 after acquiring an additional 403 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

HRL stock opened at $31.77 on Monday. 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 firm has a market cap of $17.42 billion, a P/E ratio of 22.69, a P/E/G ratio of 3.10 and a beta of 0.25. The firm’s fifty day moving average is $32.04 and its 200 day moving average is $32.92. Hormel Foods Co. has a 52 week low of $28.51 and a 52 week high of $39.58.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, September 4th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.01. The business 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%. Hormel Foods’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Research analysts predict that Hormel Foods Co. will post 1.58 earnings per share for the current year.

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 dated Friday, September 13th. The shares were 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 of the company’s stock, valued at $2,313,850.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value of $327,000.00. Following the sale, the senior vice president now directly owns 39,050 shares in the company, valued at approximately $1,276,935. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Deanna T. Brady sold 51,600 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 72,421 shares of the company’s stock, 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 corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised 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 report on Friday, May 31st. Citigroup raised shares of Hormel Foods from a “neutral” rating to a “buy” rating and increased their price target for the stock from $33.00 to $37.00 in a report on Tuesday, August 13th. Finally, Stephens reaffirmed an “equal weight” rating and set a $32.00 price objective on shares of Hormel Foods in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, Hormel Foods has an average rating of “Hold” and an average 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.