Hormel Foods Co. (NYSE:HRL) Shares Purchased by Cox Capital Mgt LLC

Cox Capital Mgt LLC boosted its position in Hormel Foods Co. (NYSE:HRL – Get Rating) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 62,673 shares of the company’s stock after acquiring an additional 2,035 shares during the quarter. Hormel Foods accounts for about 1.9% of Cox Capital Mgt LLC’s holdings, making the stock its 21st biggest holding. Cox Capital Mgt LLC’s holdings in Hormel Foods were worth $2,855,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HRL. Independence Bank of Kentucky acquired a new stake in Hormel Foods in the fourth quarter valued at approximately $31,000. Point72 Hong Kong Ltd acquired a new stake in Hormel Foods during the first quarter worth approximately $41,000. Altshuler Shaham Ltd raised its holdings in Hormel Foods by 879.6% during the third quarter. Altshuler Shaham Ltd now owns 1,107 shares of the company’s stock worth $51,000 after purchasing an additional 994 shares in the last quarter. Neo Ivy Capital Management raised its holdings in Hormel Foods by 165.1% during the third quarter. Neo Ivy Capital Management now owns 1,193 shares of the company’s stock worth $54,000 after purchasing an additional 743 shares in the last quarter. Finally, Old North State Trust LLC acquired a new stake in Hormel Foods during the third quarter worth approximately $59,000. Institutional investors and hedge funds own 39.74% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL traded down $0.81 during mid-day trading on Friday, reaching $38.35. 4,484,836 shares of the company’s stock were exchanged, compared to its average volume of 1,881,948. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.33 and a quick ratio of 1.07. The stock has a market capitalization of $20.96 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 3.86 and a beta of 0.18. The business’s fifty day simple moving average is $43.92 and its 200-day simple moving average is $45.68. Hormel Foods Co. has a 52-week low of $38.22 and a 52-week high of $55.11.

Hormel Foods (NYSE:HRL – Get Rating) last posted its quarterly earnings data on Thursday, March 2nd. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.05). Hormel Foods had a net margin of 7.90% and a return on equity of 13.10%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s quarterly revenue was down 2.4% on a year-over-year basis. On average, equities research analysts expect that Hormel Foods Co. will post 1.75 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. cut shares of Hormel Foods from a “neutral” rating to an “underweight” rating and cut their price objective for the stock from $47.00 to $38.00 in a report on Friday, March 3rd. Credit Suisse Group cut their price objective on shares of Hormel Foods from $44.00 to $41.00 and set a “neutral” rating on the stock in a report on Friday, March 3rd. Barclays cut their price objective on shares of Hormel Foods from $48.00 to $45.00 in a report on Friday, March 3rd. Argus raised their target price on shares of Hormel Foods from $53.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, December 30th. Finally, StockNews.com assumed coverage on shares of Hormel Foods in a research report on Thursday. They set a “hold” rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $44.71.

Hormel Foods Company Profile

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Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.