Nomura Holdings Inc. lessened its holdings in Hormel Foods Corp (NYSE:HRL) by 32.7% in the second quarter, HoldingsChannel.com reports. The fund owned 42,614 shares of the company’s stock after selling 20,674 shares during the period. Nomura Holdings Inc.’s holdings in Hormel Foods were worth $1,585,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its position in shares of Hormel Foods by 3.0% in the second quarter. CIBC Asset Management Inc now owns 47,782 shares of the company’s stock valued at $1,778,000 after acquiring an additional 1,383 shares during the period. Amalgamated Bank boosted its position in shares of Hormel Foods by 4.2% in the second quarter. Amalgamated Bank now owns 34,914 shares of the company’s stock valued at $1,299,000 after acquiring an additional 1,400 shares during the period. Synovus Financial Corp boosted its position in shares of Hormel Foods by 2.8% in the second quarter. Synovus Financial Corp now owns 52,252 shares of the company’s stock valued at $1,944,000 after acquiring an additional 1,402 shares during the period. HL Financial Services LLC boosted its position in shares of Hormel Foods by 9.7% in the second quarter. HL Financial Services LLC now owns 17,691 shares of the company’s stock valued at $658,000 after acquiring an additional 1,563 shares during the period. Finally, Cetera Advisor Networks LLC boosted its position in shares of Hormel Foods by 7.0% in the first quarter. Cetera Advisor Networks LLC now owns 24,919 shares of the company’s stock valued at $853,000 after acquiring an additional 1,627 shares during the period. 41.82% of the stock is owned by institutional investors.

HRL stock opened at $40.01 on Friday. The stock has a market capitalization of $21.33 billion, a P/E ratio of 23.82, a P/E/G ratio of 2.74 and a beta of 0.34. Hormel Foods Corp has a 52 week low of $29.75 and a 52 week high of $42.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.69 and a quick ratio of 0.78.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, August 23rd. The company reported $0.39 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. The firm had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.38 billion. Hormel Foods had a return on equity of 17.44% and a net margin of 10.18%. The business’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.34 earnings per share. sell-side analysts predict that Hormel Foods Corp will post 1.76 earnings per share for the current fiscal year.

A number of research firms recently commented on HRL. BMO Capital Markets downgraded Hormel Foods from an “outperform” rating to a “market perform” rating and boosted 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. ValuEngine raised Hormel Foods from a “hold” rating to a “buy” rating in a research note on Thursday, September 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Hormel Foods in a research note on Thursday, May 31st. Zacks Investment Research raised Hormel Foods from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a research note on Wednesday, May 30th. Finally, Barclays downgraded Hormel Foods from an “overweight” rating to an “equal weight” rating and set a $38.00 price target for the company. in a research note on Friday, August 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $36.90.

In other Hormel Foods news, Chairman James P. Snee sold 21,923 shares of the business’s stock in a transaction dated Tuesday, August 28th. The stock was sold at an average price of $37.85, for a total transaction of $829,785.55. Following the completion of the transaction, the chairman now owns 49,326 shares of the company’s stock, valued at $1,866,989.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert Nakasone sold 10,000 shares of the business’s stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $37.30, for a total value of $373,000.00. Following the transaction, the director now directly owns 120,973 shares of the company’s stock, valued at approximately $4,512,292.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 151,898 shares of company stock valued at $6,045,895. Insiders own 3.54% of the company’s stock.

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.

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

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