American Century Companies Inc. boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 31.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,115,855 shares of the company’s stock after buying an additional 503,119 shares during the period. American Century Companies Inc. owned 0.40% of Hormel Foods Corporation worth $72,172,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new position in shares of Hormel Foods Corporation during the first quarter worth $452,000. Candriam Luxembourg S.C.A. boosted its position in shares of Hormel Foods Corporation by 12.3% in the first quarter. Candriam Luxembourg S.C.A. now owns 19,034 shares of the company’s stock worth $659,000 after buying an additional 2,087 shares during the last quarter. Mn Services Vermogensbeheer B.V. boosted its position in shares of Hormel Foods Corporation by 5.4% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 7,762 shares of the company’s stock worth $251,000 after buying an additional 399 shares during the last quarter. Strs Ohio boosted its position in shares of Hormel Foods Corporation by 18.6% in the first quarter. Strs Ohio now owns 30,746 shares of the company’s stock worth $1,064,000 after buying an additional 4,830 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Hormel Foods Corporation by 63.1% in the first quarter. Russell Investments Group Ltd. now owns 137,489 shares of the company’s stock worth $4,762,000 after buying an additional 53,203 shares during the last quarter. Hedge funds and other institutional investors own 38.90% of the company’s stock.

Hormel Foods Corporation (NYSE HRL) opened at 31.05 on Tuesday. The firm has a 50-day moving average price of $33.53 and a 200 day moving average price of $34.48. Hormel Foods Corporation has a 52-week low of $30.86 and a 52-week high of $38.84. The stock has a market capitalization of $16.40 billion, a price-to-earnings ratio of 19.17 and a beta of 0.56.

Hormel Foods Corporation (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.24 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities research analysts predict that Hormel Foods Corporation will post $1.58 EPS for the current year.

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HRL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, May 1st. Credit Suisse Group reduced their target price on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 26th. Barclays PLC initiated coverage on Hormel Foods Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 target price on the stock. Mizuho initiated coverage on Hormel Foods Corporation in a report on Wednesday, June 7th. They issued a “neutral” rating and a $35.00 target price on the stock. Finally, Jefferies Group LLC reiterated a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a report on Monday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $38.36.

In other news, insider Luis G. Marconi sold 1,300 shares of Hormel Foods Corporation stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $34.81, for a total value of $45,253.00. Following the completion of the transaction, the insider now owns 22,532 shares of the company’s stock, valued at approximately $784,338.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Thomas R. Day sold 11,139 shares of Hormel Foods Corporation stock in a transaction dated Thursday, July 6th. The shares were 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. Company insiders own 3.54% of the company’s stock.

Hormel Foods Corporation Company Profile

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

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