Retirement Solution LLC Sells 3,271 Shares of Hormel Foods Co. (NYSE:HRL)

Retirement Solution LLC cut its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 9.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,140 shares of the company’s stock after selling 3,271 shares during the period. Hormel Foods makes up 0.3% of Retirement Solution LLC’s portfolio, making the stock its 21st biggest position. Retirement Solution LLC’s holdings in Hormel Foods were worth $1,008,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in shares of Hormel Foods by 67.1% during the 4th quarter. Bank of New York Mellon Corp now owns 2,926,668 shares of the company’s stock valued at $91,810,000 after buying an additional 1,175,087 shares during the period. Holocene Advisors LP raised its holdings in Hormel Foods by 56.0% in the 3rd quarter. Holocene Advisors LP now owns 2,237,674 shares of the company’s stock worth $70,934,000 after purchasing an additional 802,816 shares during the period. State Street Corp raised its stake in shares of Hormel Foods by 2.5% in the third quarter. State Street Corp now owns 25,068,102 shares of the company’s stock worth $794,659,000 after buying an additional 617,308 shares during the period. Van ECK Associates Corp bought a new stake in Hormel Foods during the 4th quarter worth approximately $16,612,000. Finally, Vest Financial LLC increased its stake in shares of Hormel Foods by 17.0% in the fourth quarter. Vest Financial LLC now owns 1,825,660 shares of the company’s stock worth $57,271,000 after purchasing an additional 264,813 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HRL. Stephens reissued an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a report on Tuesday, February 18th. Barclays raised shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 22nd. Finally, Citigroup dropped their price target on Hormel Foods from $36.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $31.80.

Hormel Foods Stock Up 3.2 %

Shares of HRL opened at $29.92 on Friday. The business has a fifty day moving average of $29.76 and a 200 day moving average of $30.93. The company has a market cap of $16.45 billion, a PE ratio of 20.49, a P/E/G ratio of 2.73 and a beta of 0.21. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a 52-week low of $27.59 and a 52-week high of $36.86.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $3.14 billion during the quarter, compared to analysts’ expectations of $3.14 billion. Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 earnings per share. On average, sell-side analysts expect that Hormel Foods Co. will post 1.65 EPS for the current year.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.