Investors Buy Hormel Foods (HRL) on Weakness

Investors purchased shares of Hormel Foods Corp (NYSE:HRL) on weakness during trading on Friday. $110.38 million flowed into the stock on the tick-up and $35.29 million flowed out of the stock on the tick-down, for a money net flow of $75.09 million into the stock. Of all stocks tracked, Hormel Foods had the 32nd highest net in-flow for the day. Hormel Foods traded down ($0.14) for the day and closed at $42.56

Several equities research analysts have recently commented on the stock. Barclays set a $40.00 price objective on shares of Hormel Foods and gave the stock a “hold” rating in a research note on Wednesday, November 21st. Zacks Investment Research cut shares of Hormel Foods from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Credit Suisse Group reissued a “hold” rating and set a $39.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Stephens assumed coverage on shares of Hormel Foods in a report on Monday, March 4th. They set an “equal weight” rating for the company. Finally, Jefferies Financial Group reissued a “hold” rating and set a $44.00 target price on shares of Hormel Foods in a report on Thursday, February 21st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $41.33.

The company has a debt-to-equity ratio of 0.04, a quick ratio of 0.77 and a current ratio of 1.46. The firm has a market capitalization of $22.80 billion, a PE ratio of 22.52, a price-to-earnings-growth ratio of 2.79 and a beta of 0.18.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, February 21st. The company reported $0.44 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.44. Hormel Foods had a net margin of 9.93% and a return on equity of 17.58%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts anticipate that Hormel Foods Corp will post 1.83 earnings per share for the current fiscal year.

In other Hormel Foods news, Director Glenn S. Forbes sold 4,695 shares of Hormel Foods stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $43.00, for a total value of $201,885.00. Following the completion of the transaction, the director now owns 49,481 shares of the company’s stock, valued at $2,127,683. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Elsa A. Murano sold 5,808 shares of Hormel Foods stock in a transaction on Tuesday, January 8th. The shares were sold at an average price of $42.00, for a total transaction of $243,936.00. Following the completion of the transaction, the director now directly owns 98,565 shares of the company’s stock, valued at approximately $4,139,730. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its stake in shares of Hormel Foods by 16.3% during the third quarter. SG Americas Securities LLC now owns 117,151 shares of the company’s stock worth $4,616,000 after purchasing an additional 16,396 shares in the last quarter. Highwater Wealth Management LLC purchased a new stake in shares of Hormel Foods during the fourth quarter worth about $88,000. Palisade Asset Management LLC increased its stake in shares of Hormel Foods by 2.4% during the fourth quarter. Palisade Asset Management LLC now owns 315,358 shares of the company’s stock worth $13,459,000 after purchasing an additional 7,396 shares in the last quarter. Clarus Wealth Advisors increased its stake in shares of Hormel Foods by 5,306.0% during the fourth quarter. Clarus Wealth Advisors now owns 5,406 shares of the company’s stock worth $231,000 after purchasing an additional 5,306 shares in the last quarter. Finally, CLS Investments LLC increased its stake in shares of Hormel Foods by 7.4% during the third quarter. CLS Investments LLC now owns 56,149 shares of the company’s stock worth $2,212,000 after purchasing an additional 3,870 shares in the last quarter. 43.14% of the stock is owned by institutional investors.

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Hormel Foods Company Profile (NYSE:HRL)

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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