Axa lessened its position in Hormel Foods Corporation (NYSE:HRL) by 34.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,000 shares of the company’s stock after selling 19,100 shares during the period. Axa’s holdings in Hormel Foods Corporation were worth $1,228,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Cleararc Capital Inc. grew its position in shares of Hormel Foods Corporation by 0.3% in the 1st quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock valued at $228,000 after acquiring an additional 19 shares during the period. Bronfman E.L. Rothschild L.P. grew its position in shares of Hormel Foods Corporation by 0.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after acquiring an additional 19 shares during the period. Harfst & Associates Inc. grew its position in shares of Hormel Foods Corporation by 0.4% in the 1st quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock valued at $347,000 after acquiring an additional 40 shares during the period. ING Groep NV grew its position in shares of Hormel Foods Corporation by 0.4% in the 2nd quarter. ING Groep NV now owns 13,807 shares of the company’s stock valued at $471,000 after acquiring an additional 53 shares during the period. Finally, Dynamic Advisors Solutions LLC grew its position in shares of Hormel Foods Corporation by 0.6% in the 2nd quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock valued at $351,000 after acquiring an additional 65 shares during the period. 38.95% of the stock is owned by institutional investors.

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Shares of Hormel Foods Corporation (NYSE:HRL) opened at 31.27 on Friday. The firm has a market cap of $16.51 billion, a PE ratio of 19.30 and a beta of 0.58. Hormel Foods Corporation has a 1-year low of $30.50 and a 1-year high of $38.84. The stock’s 50 day moving average is $32.60 and its 200-day moving average is $33.86.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). The company had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. Hormel Foods Corporation’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. Analysts expect that Hormel Foods Corporation will post $1.56 earnings per share for the current year.

In related news, insider Steven G. Binder sold 15,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the completion of the transaction, the insider now owns 26,838 shares in the company, valued at $858,816. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Dakota A. Pippins sold 4,000 shares of the stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the transaction, the director now owns 92,377 shares of the company’s stock, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,843 shares of company stock valued at $5,715,409. 3.54% of the stock is owned by company insiders.

A number of brokerages have recently commented on HRL. Mizuho began coverage on shares of Hormel Foods Corporation in a research report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 price objective for the company. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price objective on shares of Hormel Foods Corporation in a research report on Monday, June 12th. Stephens reissued an “overweight” rating and issued a $50.00 price objective on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, June 7th. Finally, BidaskClub upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.30.

About Hormel Foods Corporation

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Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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