Hormel Foods Co. (NYSE:HRL) Shares Acquired by US Bancorp DE

US Bancorp DE grew its stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,360 shares of the company's stock after buying an additional 20,514 shares during the period. US Bancorp DE owned 0.11% of Hormel Foods worth $19,649,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in shares of Hormel Foods during the fourth quarter worth about $25,000. Brooklyn Investment Group purchased a new position in shares of Hormel Foods during the third quarter worth about $32,000. Prospera Private Wealth LLC purchased a new stake in Hormel Foods in the third quarter worth approximately $39,000. Capital Advisors Ltd. LLC boosted its stake in Hormel Foods by 86.9% in the fourth quarter. Capital Advisors Ltd. LLC now owns 1,484 shares of the company's stock worth $47,000 after buying an additional 690 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Hormel Foods in the third quarter worth approximately $47,000. Hedge funds and other institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 0.5 %

NYSE:HRL traded up $0.15 on Thursday, reaching $28.91. The company's stock had a trading volume of 621,615 shares, compared to its average volume of 2,391,446. Hormel Foods Co. has a 12-month low of $27.59 and a 12-month high of $36.86. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of 19.81, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21. The stock has a 50 day moving average price of $29.85 and a 200 day moving average price of $30.98.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.01). The business had revenue of $3.14 billion during the quarter, compared to analysts' expectations of $3.14 billion. Hormel Foods had a net margin of 6.75% and a return on equity of 10.95%. The business's quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. On average, equities analysts anticipate that Hormel Foods Co. will post 1.65 EPS for the current fiscal year.

Insider Activity at Hormel Foods

In other news, VP Steven J. Lykken purchased 4,904 shares of the business's stock in a transaction that occurred on Friday, December 6th. The stock was purchased at an average cost of $32.47 per share, with a total value of $159,232.88. Following the completion of the acquisition, the vice president now directly owns 7,100 shares of the company's stock, valued at approximately $230,537. This trade represents a 223.32 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.72% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

HRL has been the subject of several research reports. Stephens reaffirmed an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a research note on Tuesday, February 18th. Citigroup dropped their price objective on Hormel Foods from $36.00 to $35.00 and set a "buy" rating for the company in a research note on Tuesday, November 19th. Finally, Barclays raised Hormel Foods from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $31.80.

About Hormel Foods

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.