Baird Financial Group Inc. reduced its holdings in shares of Hormel Foods Corp (NYSE:HRL) by 20.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,556 shares of the company’s stock after selling 1,671 shares during the quarter. Baird Financial Group Inc.’s holdings in Hormel Foods were worth $244,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kovack Advisors Inc. purchased a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $243,000. State of Alaska Department of Revenue lifted its stake in shares of Hormel Foods by 5.8% during the 2nd quarter. State of Alaska Department of Revenue now owns 75,670 shares of the company’s stock valued at $2,814,000 after buying an additional 4,120 shares in the last quarter. SG Americas Securities LLC lifted its stake in shares of Hormel Foods by 172.1% during the 2nd quarter. SG Americas Securities LLC now owns 100,755 shares of the company’s stock valued at $3,749,000 after buying an additional 63,728 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Hormel Foods by 47.0% during the 2nd quarter. Aperio Group LLC now owns 513,943 shares of the company’s stock valued at $19,124,000 after buying an additional 164,413 shares in the last quarter. Finally, Adviser Investments LLC purchased a new stake in shares of Hormel Foods during the 2nd quarter valued at approximately $429,000. Institutional investors own 41.82% of the company’s stock.

A number of analysts recently commented on the stock. BMO Capital Markets cut shares of Hormel Foods from an “outperform” rating to a “market perform” rating and upped their price target for the company from $38.00 to $44.00 in a research note on Monday, September 17th. They noted that the move was a valuation call. Zacks Investment Research raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Buckingham Research upped their target price on shares of Hormel Foods from $32.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 16th. ValuEngine raised shares of Hormel Foods from a “hold” rating to a “buy” rating in a report on Thursday, September 6th. Finally, Stephens lowered shares of Hormel Foods from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 17th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $36.90.

In other news, VP Thomas R. Day sold 11,856 shares of the stock in a transaction on Thursday, August 30th. The shares were sold at an average price of $38.52, for a total value of $456,693.12. Following the transaction, the vice president now owns 4,964 shares of the company’s stock, valued at approximately $191,213.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dakota A. Pippins sold 1,750 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $39.59, for a total transaction of $69,282.50. Following the completion of the transaction, the director now directly owns 91,797 shares in the company, valued at approximately $3,634,243.23. The disclosure for this sale can be found here. Insiders have sold a total of 151,898 shares of company stock worth $6,045,895 in the last ninety days. 3.54% of the stock is currently owned by insiders.

Hormel Foods stock opened at $40.01 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.78 and a current ratio of 1.69. The company has a market cap of $21.33 billion, a P/E ratio of 25.48, a PEG ratio of 2.74 and a beta of 0.34. Hormel Foods Corp has a 1-year low of $29.75 and a 1-year high of $42.29.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, August 23rd. The company reported $0.39 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.39. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.38 billion. Hormel Foods had a net margin of 10.18% and a return on equity of 17.44%. Hormel Foods’s revenue was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.34 EPS. research analysts expect that Hormel Foods Corp will post 1.76 EPS for the current year.

About Hormel Foods

Hormel Foods Corporation produces and markets various meat and food products in the United States and internationally. The company operates through five segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, Specialty Foods, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamole, and bacon; and shelf-stable products, such as canned luncheon meats, peanut butter, chilies, shelf-stable microwaveable meals, hash, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

Featured Article: Why is the ex-dividend date different from the record date?

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corp (NYSE:HRL).

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

Receive News & Ratings for Hormel Foods Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hormel Foods and related companies with MarketBeat.com's FREE daily email newsletter.