552,191 Shares in Hormel Foods Corporation $HRL Acquired by First Nebraska Trust Co

First Nebraska Trust Co acquired a new position in shares of Hormel Foods Corporation (NYSE:HRL) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 552,191 shares of the company’s stock, valued at approximately $13,705,000. Hormel Foods comprises 1.1% of First Nebraska Trust Co’s portfolio, making the stock its 21st largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caxton Associates LLP acquired a new stake in shares of Hormel Foods during the 1st quarter worth $310,000. Empowered Funds LLC raised its stake in Hormel Foods by 1.8% in the first quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after purchasing an additional 993 shares in the last quarter. Woodline Partners LP raised its stake in Hormel Foods by 40.8% in the first quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock valued at $761,000 after purchasing an additional 7,129 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in Hormel Foods by 214.4% during the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock worth $143,000 after purchasing an additional 3,226 shares during the period. Finally, Cerity Partners LLC lifted its position in Hormel Foods by 76.5% during the second quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock worth $3,134,000 after purchasing an additional 44,906 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the transaction, the director owned 32,002 shares of the company’s stock, valued at $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on HRL shares. Bank of America increased their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a report on Thursday, May 21st. JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Stephens reissued an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, July 9th. Finally, Weiss Ratings raised shares of Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.57.

Hormel Foods Stock Performance

Hormel Foods stock opened at $23.90 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The stock has a market cap of $13.15 billion, a PE ratio of 28.12, a P/E/G ratio of 2.75 and a beta of 0.34. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $29.34. The business’s 50-day moving average price is $24.91 and its two-hundred day moving average price is $23.45.

Hormel Foods (NYSE:HRL) last posted its earnings results on Wednesday, May 27th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts expect that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.