Alliancebernstein L.P. decreased its stake in Hormel Foods Corporation (NYSE:HRL) by 0.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 474,875 shares of the company’s stock after selling 1,020 shares during the period. Alliancebernstein L.P. owned about 0.09% of Hormel Foods Corporation worth $16,198,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HRL. BlackRock Inc. increased its holdings in shares of Hormel Foods Corporation by 1,105.9% in the 1st quarter. BlackRock Inc. now owns 18,991,436 shares of the company’s stock worth $657,673,000 after buying an additional 17,416,591 shares during the last quarter. State Street Corp increased its holdings in shares of Hormel Foods Corporation by 93.3% in the 1st quarter. State Street Corp now owns 30,094,045 shares of the company’s stock worth $1,042,171,000 after buying an additional 14,529,149 shares during the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Hormel Foods Corporation by 738.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,532,454 shares of the company’s stock worth $87,700,000 after buying an additional 2,230,574 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Hormel Foods Corporation by 5.6% in the 1st quarter. Vanguard Group Inc. now owns 30,268,756 shares of the company’s stock worth $1,048,207,000 after buying an additional 1,608,528 shares during the last quarter. Finally, Champlain Investment Partners LLC bought a new position in shares of Hormel Foods Corporation in the 1st quarter worth $50,220,000. 38.95% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Corporation (HRL) opened at 31.27 on Friday. The company has a market cap of $16.51 billion, a price-to-earnings ratio of 19.30 and a beta of 0.58. The company’s 50 day moving average is $32.60 and its 200 day moving average is $33.86. Hormel Foods Corporation has a 12-month low of $30.50 and a 12-month high of $38.84.

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

A number of brokerages have recently commented on HRL. Stephens reissued an “overweight” rating and issued a $50.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 16th. Barclays PLC began coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 price target on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $34.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 30th. BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Zacks Investment Research lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $38.30.

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In related news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $33.43, for a total value of $372,376.77. Following the sale, the insider now owns 24,838 shares in the company, valued at $830,334.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dakota A. Pippins sold 4,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $31.60, for a total transaction of $126,400.00. Following the completion of the sale, the director now owns 92,377 shares in the company, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. Insiders sold 180,843 shares of company stock worth $5,715,409 in the last 90 days. 3.54% of the stock is currently owned by company insiders.

Hormel Foods Corporation Profile

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

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