Vise Technologies Inc. Acquires Shares of 36,301 Hormel Foods Corporation $HRL

Vise Technologies Inc. acquired a new stake in Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, HoldingsChannel reports. The fund acquired 36,301 shares of the company’s stock, valued at approximately $901,000.

A number of other hedge funds have also recently modified their holdings of HRL. MUFG Securities EMEA plc purchased a new position in Hormel Foods during the second quarter valued at approximately $26,000. Strive Financial Group LLC purchased a new stake in Hormel Foods in the 4th quarter worth approximately $27,000. Motiv8 Investments LLC purchased a new stake in Hormel Foods in the 4th quarter worth approximately $28,000. Parkside Financial Bank & Trust grew its stake in shares of Hormel Foods by 354.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after purchasing an additional 1,025 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of 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 during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

HRL has been the subject of several analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Weiss Ratings upgraded shares of Hormel Foods from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, August 12th. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a research report on Thursday, May 21st. Stephens reaffirmed an “equal weight” rating and issued a $25.00 price objective on shares of Hormel Foods in a report on Thursday, July 9th. Finally, Bank of America raised their target price on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Two research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.57.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the transaction, the director directly owned 32,002 shares of the company’s stock, valued at $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.58% of the stock is currently owned by insiders.

Hormel Foods Trading Up 0.1%

Shares of HRL stock opened at $23.90 on Monday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $29.34. The company has a market cap of $13.15 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.75 and a beta of 0.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The stock has a 50 day simple moving average of $24.91 and a 200-day simple moving average of $23.44.

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

Hormel Foods 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.