AMG National Trust Bank Decreases Stock Holdings in Hormel Foods Co. (NYSE:HRL)

AMG National Trust Bank reduced its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 0.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 424,643 shares of the company’s stock after selling 490 shares during the quarter. AMG National Trust Bank’s holdings in Hormel Foods were worth $13,249,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Greenleaf Trust boosted its stake in Hormel Foods by 4.4% during the 4th quarter. Greenleaf Trust now owns 8,029 shares of the company’s stock valued at $252,000 after acquiring an additional 336 shares during the last quarter. Empower Advisory Group LLC boosted its stake in Hormel Foods by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 9,649 shares of the company’s stock valued at $306,000 after acquiring an additional 342 shares during the last quarter. CFS Investment Advisory Services LLC lifted its position in shares of Hormel Foods by 2.8% in the 4th quarter. CFS Investment Advisory Services LLC now owns 13,445 shares of the company’s stock worth $422,000 after buying an additional 360 shares during the last quarter. New Century Financial Group LLC lifted its position in shares of Hormel Foods by 6.2% in the 4th quarter. New Century Financial Group LLC now owns 6,738 shares of the company’s stock worth $211,000 after buying an additional 392 shares during the last quarter. Finally, MML Investors Services LLC lifted its position in shares of Hormel Foods by 4.8% in the 3rd quarter. MML Investors Services LLC now owns 9,108 shares of the company’s stock worth $289,000 after buying an additional 416 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Stephens restated an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Barclays upgraded shares of Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Finally, Citigroup reduced their price target on shares of Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $31.80.

Hormel Foods Stock Up 0.8 %

HRL stock opened at $28.99 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.32 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a fifty-two week low of $27.59 and a fifty-two week high of $36.86. The firm’s 50-day simple moving average is $29.80 and its 200 day simple moving average is $30.96. The stock has a market cap of $15.94 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 2.73 and a beta of 0.21.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The firm had revenue of $3.14 billion during the quarter, compared to analyst estimates of $3.14 billion. During the same period last year, the business earned $0.42 EPS. The firm’s revenue was down 1.9% on a year-over-year basis. As a group, sell-side analysts predict that Hormel Foods Co. will post 1.65 EPS for the current year.

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.