Landscape Capital Management L.L.C. Makes New Investment in Hormel Foods Corporation $HRL

Key Points

• Landscape Capital Management acquired 246,017 Hormel Foods shares in the second quarter, valued at approximately $6.1 million. Several other institutional investors also initiated positions, while institutional ownership reached 40.99%.
• Hormel reported quarterly EPS of $0.40, exceeding estimates of $0.35, while revenue rose 2.6% year over year to $2.97 billion. Analysts expect full-year EPS of approximately $1.50.
• HRL shares opened at $23.90, below the analyst consensus target of $26.57. The stock carries an overall “Hold” rating, with two Buy ratings and seven Holds.

Landscape Capital Management L.L.C. bought a new stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 246,017 shares of the company's stock, valued at approximately $6,106,000.

Other large investors have also modified their holdings of the company. Korea Investment CORP purchased a new stake in shares of Hormel Foods in the 2nd quarter worth approximately $346,000. Allworth Financial LP purchased a new position in Hormel Foods during the second quarter valued at approximately $318,000. B. Metzler seel. Sohn & Co. AG purchased a new position in Hormel Foods during the second quarter valued at approximately $540,000. Vise Technologies Inc. bought a new position in Hormel Foods in the second quarter worth approximately $901,000. Finally, Sound Financial Strategies Group LLC bought a new position in Hormel Foods in the second quarter worth approximately $223,000. Institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Down 0.7%

NYSE:HRL opened at $23.90 on Friday. The stock has a market capitalization of $13.15 billion, a price-to-earnings ratio of 28.12, a PEG ratio of 2.77 and a beta of 0.34. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $29.34. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $24.91 and a 200 day moving average of $23.45.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings results on Wednesday, May 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.96 billion. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business's revenue for the quarter was up 2.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. As a group, sell-side analysts anticipate that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on HRL shares. JPMorgan Chase & Co. increased their target price on Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Weiss Ratings raised 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 objective on Hormel Foods in a research note on Thursday, May 21st. Bank of America raised their price objective on Hormel Foods from $25.00 to $27.00 and gave the company a "neutral" rating in a research report on Tuesday, June 30th. Finally, BNP Paribas Exane lifted their target price on Hormel Foods from $26.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Two analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Hormel Foods currently has an average rating of "Hold" and an average target price of $26.57.

Insider Buying and Selling at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the business's stock in a transaction on Wednesday, July 8th. The stock was 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 in the company, valued at $784,369.02. The trade was a 38.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.58% of the stock is owned by insiders.

About Hormel Foods

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.

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