Westwood Holdings Group Inc. lessened its stake in shares of Hormel Foods Corp (NYSE:HRL) by 3.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,911,620 shares of the company’s stock after selling 72,742 shares during the period. Hormel Foods makes up about 0.8% of Westwood Holdings Group Inc.’s portfolio, making the stock its 28th biggest position. Westwood Holdings Group Inc. owned approximately 0.36% of Hormel Foods worth $77,497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. MUFG Americas Holdings Corp acquired a new stake in Hormel Foods during the 2nd quarter valued at approximately $35,000. TRUE Private Wealth Advisors acquired a new stake in Hormel Foods during the 2nd quarter valued at approximately $36,000. Dougherty Wealth Advisers LLC lifted its stake in Hormel Foods by 350.0% during the 2nd quarter. Dougherty Wealth Advisers LLC now owns 900 shares of the company’s stock valued at $36,000 after acquiring an additional 700 shares during the period. Country Trust Bank lifted its stake in Hormel Foods by 190.7% during the 2nd quarter. Country Trust Bank now owns 1,692 shares of the company’s stock valued at $69,000 after acquiring an additional 1,110 shares during the period. Finally, Pearl River Capital LLC acquired a new stake in Hormel Foods during the 2nd quarter valued at approximately $73,000. 44.34% of the stock is currently owned by institutional investors.

Shares of HRL traded up $0.06 during trading hours on Friday, hitting $43.02. The stock had a trading volume of 45,524 shares, compared to its average volume of 2,489,099. The firm has a market capitalization of $22.94 billion, a price-to-earnings ratio of 22.74, a PEG ratio of 3.31 and a beta of 0.06. The firm has a 50-day moving average price of $42.10 and a 200 day moving average price of $41.48. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 2.09. Hormel Foods Corp has a fifty-two week low of $37.00 and a fifty-two week high of $46.26.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.29 billion. Hormel Foods had a net margin of 10.34% and a return on equity of 16.75%. The firm’s revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.39 EPS. As a group, analysts predict that Hormel Foods Corp will post 1.74 EPS for the current fiscal year.

In other news, Director Robert Nakasone sold 3,962 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $43.01, for a total transaction of $170,405.62. Following the completion of the sale, the director now owns 74,275 shares of the company’s stock, valued at $3,194,567.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Thomas R. Day sold 30,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $44.26, for a total transaction of $1,327,800.00. Following the sale, the executive vice president now directly owns 55,060 shares of the company’s stock, valued at approximately $2,436,955.60. The disclosure for this sale can be found here. Insiders have sold 113,730 shares of company stock valued at $4,956,035 in the last ninety days. Insiders own 1.11% of the company’s stock.

Several analysts have commented on the stock. ValuEngine cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th. Piper Jaffray Companies set a $46.00 price objective on shares of Hormel Foods and gave the company 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. Buckingham Research decreased their price objective on shares of Hormel Foods from $38.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, May 24th. Finally, Zacks Investment Research upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating and set a $45.00 target price for the company in a research note on Tuesday, August 27th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $40.10.

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, 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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