Nomura Holdings Inc. increased its stake in Hormel Foods Corp. (NYSE:HRL) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 83,062 shares of the company’s stock after buying an additional 2,223 shares during the period. Nomura Holdings Inc.’s holdings in Hormel Foods Corp. were worth $3,022,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Sumitomo Life Insurance Co. raised its stake in shares of Hormel Foods Corp. by 94.1% in the first quarter. Sumitomo Life Insurance Co. now owns 39,358 shares of the company’s stock valued at $1,702,000 after buying an additional 19,082 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC raised its stake in shares of Hormel Foods Corp. by 98.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 8,376 shares of the company’s stock valued at $362,000 after buying an additional 4,161 shares during the last quarter. PGGM Investments raised its stake in shares of Hormel Foods Corp. by 96.6% in the first quarter. PGGM Investments now owns 890,595 shares of the company’s stock valued at $38,509,000 after buying an additional 437,506 shares during the last quarter. UMB Bank N A MO raised its stake in shares of Hormel Foods Corp. by 96.9% in the first quarter. UMB Bank N A MO now owns 31,332 shares of the company’s stock valued at $1,355,000 after buying an additional 15,416 shares during the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Hormel Foods Corp. during the first quarter valued at approximately $264,000. 34.10% of the stock is owned by institutional investors.

Hormel Foods Corp. (NYSE:HRL) opened at 36.39 on Wednesday. The firm has a 50-day moving average of $37.27 and a 200-day moving average of $38.08. The firm has a market cap of $19.26 billion, a PE ratio of 23.63 and a beta of 0.56. Hormel Foods Corp. has a 52-week low of $30.06 and a 52-week high of $45.72.

Hormel Foods Corp. (NYSE:HRL) last released its quarterly earnings data on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The firm earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Hormel Foods Corp. had a return on equity of 20.06% and a net margin of 8.96%. Hormel Foods Corp.’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.28 earnings per share. Equities analysts anticipate that Hormel Foods Corp. will post $1.63 EPS for the current year.

Several brokerages have issued reports on HRL. Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 target price on the stock in a research note on Tuesday, August 23rd. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Credit Suisse Group AG raised shares of Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $38.00 to $43.00 in a research note on Monday, August 22nd. BMO Capital Markets raised shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 target price on the stock in a research note on Friday, August 19th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of Hormel Foods Corp. in a research note on Wednesday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $40.35.

In other news, Director Dakota A. Pippins sold 5,000 shares of the firm’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $36.74, for a total value of $183,700.00. Following the completion of the transaction, the director now owns 96,416 shares in the company, valued at $3,542,323.84. The sale was disclosed in a document filed with the SEC, which is available at this link. 3.54% of the stock is owned by insiders.

Hormel Foods Corp. Company Profile

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