Northwestern Mutual Wealth Management Co. Takes Position in Hormel Foods Corporation $HRL

Key Points

• Northwestern Mutual Wealth Management acquired 57,013 Hormel Foods shares in the second quarter, worth approximately $1.4 million. Institutional investors collectively own about 40.99% of HRL.
• Hormel reported quarterly earnings of $0.40 per share, exceeding the $0.35 analyst consensus, while revenue rose 2.6% year over year to $2.97 billion.
• Analysts maintain a generally cautious outlook, with a consensus “Hold” rating and an average price target of $26.57; HRL recently traded at $23.76.

Northwestern Mutual Wealth Management Co. acquired a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 57,013 shares of the company's stock, valued at approximately $1,415,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vest Financial LLC grew its holdings in shares of Hormel Foods by 9.1% in the 4th quarter. Vest Financial LLC now owns 2,042,541 shares of the company's stock worth $48,408,000 after acquiring an additional 171,137 shares during the period. Masters Capital Management LLC acquired a new position in Hormel Foods during the first quarter worth $19,252,000. Fidelity National Financial Inc. purchased a new stake in Hormel Foods during the fourth quarter worth $15,642,000. BNP Paribas Financial Markets boosted its position in Hormel Foods by 21.2% during the fourth quarter. BNP Paribas Financial Markets now owns 465,204 shares of the company's stock worth $11,025,000 after purchasing an additional 81,420 shares in the last quarter. Finally, AMG National Trust Bank acquired a new stake in Hormel Foods in the second quarter valued at $8,338,000. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE:HRL opened at $23.76 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. The business's fifty day moving average price is $24.88 and its two-hundred day moving average price is $23.42. The stock has a market cap of $13.08 billion, a PE ratio of 27.95, a price-to-earnings-growth ratio of 2.77 and a beta of 0.34. Hormel Foods Corporation has a one year low of $19.70 and a one year high of $29.10.

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 for the quarter, topping analysts' consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company had revenue of $2.97 billion during the quarter, compared to analysts' expectations of $2.96 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The business's revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts forecast that Hormel Foods Corporation will post 1.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of research analyst reports. Stephens restated an "equal weight" rating and issued a $25.00 price target on shares of Hormel Foods in a research report on Thursday, July 9th. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research report on Thursday, May 21st. Bank of America increased their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the company a "neutral" rating in a research note on Tuesday, June 30th. BNP Paribas Exane raised their target price on shares of Hormel Foods from $26.00 to $27.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, 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. Two equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, Hormel Foods presently has a consensus rating of "Hold" and a consensus price target of $26.57.

Insiders Place Their Bets

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.58% of the company's stock.

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.

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