Oppenheimer & Co. Inc. decreased its holdings in Hormel Foods Corp (NYSE:HRL) by 68.6% in the 2nd quarter, HoldingsChannel reports. The firm owned 6,892 shares of the company’s stock after selling 15,031 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Hormel Foods were worth $280,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in HRL. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hormel Foods by 0.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 73,220 shares of the company’s stock valued at $2,968,000 after purchasing an additional 299 shares during the period. Pittenger & Anderson Inc. lifted its stake in Hormel Foods by 0.6% during the second quarter. Pittenger & Anderson Inc. now owns 52,150 shares of the company’s stock worth $2,114,000 after purchasing an additional 315 shares during the last quarter. 6 Meridian lifted its stake in Hormel Foods by 2.9% during the second quarter. 6 Meridian now owns 11,386 shares of the company’s stock worth $462,000 after purchasing an additional 318 shares during the last quarter. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Hormel Foods by 2.4% in the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 13,625 shares of the company’s stock valued at $552,000 after acquiring an additional 325 shares during the last quarter. Finally, G&S Capital LLC lifted its stake in shares of Hormel Foods by 12.4% in the 2nd quarter. G&S Capital LLC now owns 3,131 shares of the company’s stock valued at $127,000 after acquiring an additional 346 shares during the last quarter. 44.37% of the stock is owned by institutional investors.

In related news, SVP Kevin L. Myers sold 2,045 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $42.80, for a total value of $87,526.00. Following the completion of the transaction, the senior vice president now directly owns 13,881 shares in the company, valued at approximately $594,106.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Terrell K. Crews sold 9,046 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $42.35, for a total transaction of $383,098.10. Following the completion of the transaction, the director now owns 113,305 shares of the company’s stock, valued at $4,798,466.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,768 shares of company stock valued at $1,696,629. Company insiders own 1.11% of the company’s stock.

A number of brokerages have weighed in on HRL. ValuEngine downgraded Hormel Foods from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Buckingham Research dropped their target price on shares of Hormel Foods from $38.00 to $35.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Piper Jaffray Companies set a $46.00 price target on shares of Hormel Foods and gave the stock a “buy” rating in a research note on Thursday, May 23rd. Stephens set a $37.00 price objective on shares of Hormel Foods and gave the company a “hold” rating in a research note on Monday, August 12th. Finally, Edward Jones lowered shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $40.10.

Shares of Hormel Foods stock traded down $0.55 during trading on Friday, hitting $43.45. The stock had a trading volume of 68,288 shares, compared to its average volume of 2,500,425. The firm’s fifty day simple moving average is $41.85 and its 200-day simple moving average is $41.47. The stock has a market cap of $23.42 billion, a PE ratio of 22.94, a PEG ratio of 3.34 and a beta of 0.06. The company has a debt-to-equity ratio of 0.04, a current ratio of 2.09 and a quick ratio of 1.06. Hormel Foods Corp has a 12 month low of $37.00 and a 12 month high of $46.26.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter last year, the firm posted $0.39 EPS. The company’s revenue for the quarter was down 2.9% on a year-over-year basis. Analysts expect that Hormel Foods Corp will post 1.74 earnings per share for the current fiscal year.

Hormel Foods Company Profile

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, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products.

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

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