OppenheimerFunds Inc. lessened its position in shares of Hormel Foods Corp (NYSE:HRL) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,715 shares of the company’s stock after selling 3,020 shares during the period. OppenheimerFunds Inc.’s holdings in Hormel Foods were worth $1,445,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Dupont Capital Management Corp bought a new stake in shares of Hormel Foods during the third quarter worth approximately $100,000. Steward Partners Investment Advisory LLC boosted its holdings in shares of Hormel Foods by 3,200.0% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 3,300 shares of the company’s stock worth $120,000 after acquiring an additional 3,200 shares during the period. First Citizens Bank & Trust Co. bought a new stake in shares of Hormel Foods during the fourth quarter worth approximately $218,000. Resources Investment Advisors Inc. bought a new stake in shares of Hormel Foods during the fourth quarter worth approximately $218,000. Finally, Hills Bank & Trust Co. bought a new stake in shares of Hormel Foods during the fourth quarter worth approximately $224,000. Institutional investors own 39.40% of the company’s stock.
Shares of Hormel Foods Corp (NYSE HRL) opened at $34.03 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.47 and a quick ratio of 0.74. The stock has a market capitalization of $17,847.01, a P/E ratio of 21.33, a P/E/G ratio of 1.98 and a beta of 0.53. Hormel Foods Corp has a 12 month low of $29.75 and a 12 month high of $38.00.
In other Hormel Foods news, Director Elsa A. Murano sold 7,129 shares of the company’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $36.00, for a total transaction of $256,644.00. Following the completion of the sale, the director now directly owns 90,991 shares in the company, valued at $3,275,676. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Glenn S. Forbes sold 4,492 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $33.71, for a total value of $151,425.32. Following the sale, the director now owns 50,326 shares of the company’s stock, valued at $1,696,489.46. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,621 shares of company stock valued at $1,109,949. 1.48% of the stock is currently owned by corporate insiders.
A number of equities research analysts have recently issued reports on HRL shares. Zacks Investment Research upgraded Hormel Foods from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Thursday, November 23rd. Credit Suisse Group set a $33.00 price objective on Hormel Foods and gave the stock a “hold” rating in a report on Friday, November 24th. Mizuho set a $34.00 price objective on Hormel Foods and gave the stock a “hold” rating in a report on Saturday, November 25th. Barclays set a $40.00 price target on Hormel Foods and gave the company an “overweight” rating in a research note on Friday, December 1st. Finally, Jefferies Group set a $34.00 price target on Hormel Foods and gave the company a “hold” rating in a research note on Thursday, November 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $34.60.
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Hormel Foods Company Profile
Hormel Foods Corporation is engaged in the production of a range of meat and food products. The Company operates through four segments: Grocery Products, which is engaged in the processing, marketing and sale of shelf-stable food products sold for the retail market and health and also consists of nutrition products, including Muscle Milk protein products.; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork, beef, chicken and turkey products for retail, foodservice and fresh product customers; Jennie-O Turkey Store (JOTS), which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; and International & Other, which includes Hormel Foods International Corporation, which manufactures, markets and sells the Company products internationally.
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