Edmond DE Rothschild Holding S.A. Buys New Holdings in Hormel Foods Corporation (HRL)

Edmond DE Rothschild Holding S.A. bought a new stake in Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 9,506 shares of the company’s stock, valued at approximately $324,000.

Several other large investors have also made changes to their positions in HRL. Canada Pension Plan Investment Board raised its holdings in shares of Hormel Foods Corporation by 230.1% in the first quarter. Canada Pension Plan Investment Board now owns 3,822 shares of the company’s stock valued at $132,000 after buying an additional 2,664 shares during the last quarter. SRS Capital Advisors Inc. raised its holdings in shares of Hormel Foods Corporation by 20.1% in the first quarter. SRS Capital Advisors Inc. now owns 4,299 shares of the company’s stock valued at $148,000 after buying an additional 718 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Hormel Foods Corporation by 7.2% in the first quarter. Van ECK Associates Corp now owns 4,387 shares of the company’s stock valued at $152,000 after buying an additional 295 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Hormel Foods Corporation by 0.4% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock valued at $163,000 after buying an additional 19 shares during the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Hormel Foods Corporation in the second quarter valued at about $189,000. 38.95% of the stock is owned by institutional investors and hedge funds.

In other Hormel Foods Corporation news, insider Thomas R. Day sold 11,139 shares of the business’s stock in a transaction dated Thursday, July 6th. The shares were sold at an average price of $33.43, for a total transaction of $372,376.77. Following the completion of the transaction, the insider now directly owns 24,838 shares of the company’s stock, valued at approximately $830,334.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Donald H. Kremin sold 100,000 shares of the business’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $31.66, for a total transaction of $3,166,000.00. Following the transaction, the insider now directly owns 887 shares of the company’s stock, valued at $28,082.42. The disclosure for this sale can be found here. Insiders have sold a total of 165,843 shares of company stock valued at $5,235,409 over the last three months. 3.54% of the stock is currently owned by company insiders.

Hormel Foods Corporation (HRL) opened at 31.73 on Wednesday. The stock has a market capitalization of $16.75 billion, a PE ratio of 19.59 and a beta of 0.58. Hormel Foods Corporation has a 12-month low of $30.50 and a 12-month high of $38.84. The company’s 50-day moving average is $32.60 and its 200 day moving average is $33.86.

Hormel Foods Corporation (NYSE:HRL) last posted its earnings results on Thursday, August 24th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.24 billion. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 earnings per share. On average, analysts predict that Hormel Foods Corporation will post $1.56 EPS for the current year.

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A number of equities research analysts have recently commented on the stock. Stephens reaffirmed an “overweight” rating and issued a $50.00 target price on shares of Hormel Foods Corporation in a report on Friday, June 16th. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They set an “overweight” rating and a $38.00 price target for the company. Jefferies Group LLC reissued a “hold” rating and set a $34.00 price target on shares of Hormel Foods Corporation in a report on Friday, June 30th. BidaskClub raised shares of Hormel Foods Corporation from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Finally, Zacks Investment Research cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, May 29th. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Hormel Foods Corporation presently has a consensus rating of “Hold” and a consensus price target of $38.30.

About Hormel Foods Corporation

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Institutional Ownership by Quarter for Hormel Foods Corporation (NYSE:HRL)

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