Principal Financial Group Inc. Has $14.08 Million Position in Hormel Foods Corporation (HRL)

Principal Financial Group Inc. decreased its position in shares of Hormel Foods Corporation (NYSE:HRL) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 412,791 shares of the company’s stock after selling 15,047 shares during the period. Principal Financial Group Inc. owned about 0.08% of Hormel Foods Corporation worth $14,081,000 as of its most recent filing with the Securities and Exchange Commission.

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

Several analysts recently issued reports on HRL shares. Zacks Investment Research upgraded shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Credit Suisse Group reduced their price target on shares of Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a research report on Friday, May 26th. BidaskClub lowered shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Barclays PLC reduced their price target on shares of Hormel Foods Corporation from $38.00 to $35.00 and set an “overweight” rating on the stock in a research report on Friday, August 25th. Finally, Stephens reiterated an “overweight” rating and set a $50.00 price target on shares of Hormel Foods Corporation in a research report on Friday, June 16th. Six investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $38.30.

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Shares of Hormel Foods Corporation (NYSE HRL) opened at 31.73 on Wednesday. The firm has a 50-day moving average of $32.60 and a 200-day moving average of $33.86. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84. The firm has a market cap of $16.75 billion, a price-to-earnings ratio of 19.59 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last released its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Zacks’ 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 company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the firm earned $0.36 EPS. Hormel Foods Corporation’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts anticipate that Hormel Foods Corporation will post $1.56 EPS for the current year.

In other Hormel Foods Corporation news, insider Donald H. Kremin sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $31.66, for a total value of $3,166,000.00. Following the completion of the transaction, the insider now owns 887 shares of the company’s stock, valued at approximately $28,082.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The disclosure for this sale can be found here. In the last three months, insiders sold 165,843 shares of company stock valued at $5,235,409. Corporate insiders own 3.54% of the company’s stock.

About Hormel Foods Corporation

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

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