Mason Street Advisors LLC purchased a new position in shares of Hormel Foods Corp. (NYSE:HRL) during the second quarter, Holdings Channel reports. The institutional investor purchased 36,398 shares of the company’s stock, valued at approximately $1,332,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Nomura Asset Management Co. Ltd. increased its position in shares of Hormel Foods Corp. by 5.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 30,986 shares of the company’s stock worth $1,225,000 after buying an additional 1,710 shares during the last quarter. Norges Bank acquired a new position in shares of Hormel Foods Corp. during the fourth quarter worth $114,000,000. Chevy Chase Trust Holdings Inc. increased its position in shares of Hormel Foods Corp. by 109.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 228,126 shares of the company’s stock worth $9,864,000 after buying an additional 119,140 shares during the last quarter. DnB Asset Management AS acquired a new position in shares of Hormel Foods Corp. during the first quarter worth $1,221,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund increased its position in shares of Hormel Foods Corp. by 126.5% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 64,774 shares of the company’s stock worth $2,801,000 after buying an additional 36,176 shares during the last quarter. Institutional investors and hedge funds own 34.10% of the company’s stock.

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

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

A number of equities research analysts recently commented on the stock. Jefferies Group reaffirmed a “hold” rating on shares of Hormel Foods Corp. in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. assumed coverage on shares of Hormel Foods Corp. in a report on Friday, September 16th. They issued a “market perform” rating and a $39.00 price target on the stock. Edward Jones raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a report on Wednesday, August 24th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $38.00 price target on shares of Hormel Foods Corp. in a report on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a report on Tuesday, August 23rd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $40.35.

In related news, Director Dakota A. Pippins sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $36.74, for a total transaction of $183,700.00. Following the completion of the sale, the director now owns 96,416 shares of the company’s stock, valued at $3,542,323.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.54% of the company’s stock.

Hormel Foods Corp. Company Profile

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