31,401 Shares in Hormel Foods Corporation $HRL Acquired by Fortress Financial Group LLC

Fortress Financial Group LLC bought a new position in shares of Hormel Foods Corporation (NYSE:HRL) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,401 shares of the company’s stock, valued at approximately $779,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HRL. MUFG Securities EMEA plc purchased a new stake in shares of Hormel Foods during the second quarter worth $26,000. Strive Financial Group LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at $27,000. Motiv8 Investments LLC purchased a new position in Hormel Foods in the fourth quarter valued at $28,000. Parkside Financial Bank & Trust boosted its holdings in Hormel Foods by 354.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after purchasing an additional 1,025 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in Hormel Foods by 57.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,455 shares of the company’s stock worth $33,000 after purchasing an additional 531 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. BNP Paribas Exane upped their price target on Hormel Foods from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Stephens reiterated an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, July 9th. Bank of America boosted their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research note on Thursday, May 21st. Finally, Weiss Ratings raised shares of Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, August 12th. Two investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.57.

Insider Activity at Hormel Foods

In other news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.58% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $23.90 on Friday. The company has a market cap of $13.15 billion, a P/E ratio of 28.12, a PEG ratio of 2.75 and a beta of 0.34. The firm has a fifty day moving average price of $24.91 and a 200 day moving average price of $23.45. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $29.34.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.Hormel Foods’s quarterly revenue was up 2.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 earnings per share. Sell-side analysts predict that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.