Jump Financial LLC Purchases Shares of 57,615 Hormel Foods Corporation $HRL

Key Points

• Jump Financial LLC acquired a new stake in Hormel Foods Corporation, purchasing 57,615 shares valued at approximately $1.78 million in the first quarter of the year.
• Hormel Foods recently reported earnings of $0.35 EPS, meeting expectations, with revenues of $2.90 billion for the quarter, a slight increase year-over-year.
• Equities analysts have set a consensus price target of $33.00 for Hormel Foods, with recommendations including a mix of "buy" and "hold" ratings.

Jump Financial LLC purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 57,615 shares of the company's stock, valued at approximately $1,783,000.

Other hedge funds have also bought and sold shares of the company. J.W. Cole Advisors Inc. bought a new stake in Hormel Foods during the first quarter valued at about $1,283,000. Principal Financial Group Inc. grew its holdings in Hormel Foods by 12.0% during the first quarter. Principal Financial Group Inc. now owns 452,925 shares of the company's stock valued at $14,014,000 after purchasing an additional 48,657 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Hormel Foods by 180.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company's stock valued at $2,737,000 after purchasing an additional 57,280 shares during the period. Woodline Partners LP bought a new stake in Hormel Foods during the fourth quarter valued at about $548,000. Finally, Victory Capital Management Inc. grew its holdings in Hormel Foods by 22.2% during the first quarter. Victory Capital Management Inc. now owns 1,150,394 shares of the company's stock valued at $35,593,000 after purchasing an additional 208,883 shares during the period. Institutional investors own 40.99% of the company's stock.

Hormel Foods Stock Up 0.9%

HRL opened at $29.02 on Thursday. The firm has a 50-day simple moving average of $29.42 and a two-hundred day simple moving average of $29.67. Hormel Foods Corporation has a 52 week low of $27.59 and a 52 week high of $33.80. The company has a market capitalization of $15.96 billion, a PE ratio of 21.33, a price-to-earnings-growth ratio of 3.27 and a beta of 0.31. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business's revenue was up .3% on a year-over-year basis. Analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. The Goldman Sachs Group assumed coverage on Hormel Foods in a report on Monday, June 23rd. They set a "buy" rating and a $35.00 price target on the stock. Stephens reissued an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a report on Thursday, May 22nd. JPMorgan Chase & Co. raised Hormel Foods from a "neutral" rating to an "overweight" rating and raised their price target for the company from $29.00 to $34.00 in a report on Wednesday, August 20th. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a report on Tuesday, May 27th. Finally, BNP Paribas raised Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $33.00.

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.

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