Vanguard Group Inc. boosted its stake in Hormel Foods Corp. (NYSE:HRL) by 1.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,503,290 shares of the company’s stock after buying an additional 477,355 shares during the period. Vanguard Group Inc. owned about 5.19% of Hormel Foods Corp. worth $1,006,620,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC boosted its stake in shares of Hormel Foods Corp. by 3.8% in the second quarter. Checchi Capital Advisers LLC now owns 2,762 shares of the company’s stock worth $101,000 after buying an additional 100 shares during the period. Global X Management Co. LLC boosted its stake in shares of Hormel Foods Corp. by 192.9% in the second quarter. Global X Management Co. LLC now owns 2,794 shares of the company’s stock worth $102,000 after buying an additional 1,840 shares during the period. Huntington National Bank boosted its stake in shares of Hormel Foods Corp. by 40.0% in the second quarter. Huntington National Bank now owns 3,500 shares of the company’s stock worth $128,000 after buying an additional 1,000 shares during the period. Financial Architects Inc boosted its stake in shares of Hormel Foods Corp. by 1,280.6% in the second quarter. Financial Architects Inc now owns 4,059 shares of the company’s stock worth $149,000 after buying an additional 3,765 shares during the period. Finally, Cypress Capital Management LLC WY bought a new stake in shares of Hormel Foods Corp. during the second quarter worth approximately $209,000. 34.10% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Corp. (NYSE:HRL) traded up 0.40% during trading on Thursday, reaching $37.52. The company’s stock had a trading volume of 114,366 shares. The company’s 50-day moving average is $37.28 and its 200-day moving average is $38.08. The stock has a market cap of $19.86 billion, a PE ratio of 24.36 and a beta of 0.56. Hormel Foods Corp. has a 12 month low of $30.06 and a 12 month high of $45.72.

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

A number of brokerages have recently commented on HRL. Jefferies Group reaffirmed a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, June 7th. Zacks Investment Research raised Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a research note on Tuesday, August 23rd. Oppenheimer Holdings Inc. began coverage on Hormel Foods Corp. in a research note on Friday, September 16th. They issued a “market perform” rating and a $39.00 price target for the company. Edward Jones raised Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, August 24th. Finally, Deutsche Bank AG reaffirmed a “hold” rating and issued a $38.00 price target on shares of Hormel Foods Corp. in a research note on Tuesday, August 16th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Hormel Foods Corp. currently has a consensus rating of “Hold” and a consensus price target of $40.35.

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

Hormel Foods Corp. Company Profile

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