Moody National Bank Trust Division Makes New Investment in Hormel Foods Co. (NYSE:HRL)

Moody National Bank Trust Division acquired a new stake in shares of Hormel Foods Co. (NYSE:HRLGet Rating) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,234 shares of the company’s stock, valued at approximately $295,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Oak Thistle LLC bought a new stake in shares of Hormel Foods during the first quarter valued at approximately $213,000. Covestor Ltd bought a new stake in shares of Hormel Foods during the fourth quarter valued at approximately $41,000. Elo Mutual Pension Insurance Co increased its position in shares of Hormel Foods by 6.2% during the first quarter. Elo Mutual Pension Insurance Co now owns 23,469 shares of the company’s stock valued at $1,210,000 after purchasing an additional 1,374 shares during the period. Commonwealth Equity Services LLC increased its position in shares of Hormel Foods by 11.7% during the first quarter. Commonwealth Equity Services LLC now owns 167,522 shares of the company’s stock valued at $8,634,000 after purchasing an additional 17,499 shares during the period. Finally, Inspire Investing LLC bought a new stake in shares of Hormel Foods during the first quarter valued at approximately $4,025,000. 39.95% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Hormel Foods news, Director Christopher J. Policinski sold 2,110 shares of the business’s stock in a transaction dated Thursday, June 23rd. The shares were sold at an average price of $46.27, for a total value of $97,629.70. Following the completion of the transaction, the director now directly owns 85,254 shares of the company’s stock, valued at $3,944,702.58. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Christopher J. Policinski sold 2,110 shares of Hormel Foods stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $46.27, for a total transaction of $97,629.70. Following the completion of the sale, the director now owns 85,254 shares in the company, valued at approximately $3,944,702.58. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin L. Myers sold 5,000 shares of Hormel Foods stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $47.20, for a total transaction of $236,000.00. Following the sale, the senior vice president now owns 32,954 shares of the company’s stock, valued at approximately $1,555,428.80. The disclosure for this sale can be found here. Insiders own 0.78% of the company’s stock.

Hormel Foods Trading Up 1.0 %

Shares of NYSE HRL opened at $46.26 on Tuesday. Hormel Foods Co. has a 1-year low of $40.48 and a 1-year high of $55.11. The company has a market cap of $25.27 billion, a PE ratio of 25.28, a P/E/G ratio of 3.46 and a beta of 0.12. The company has a current ratio of 2.40, a quick ratio of 1.21 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average of $48.68 and a two-hundred day moving average of $49.42.

Hormel Foods (NYSE:HRLGet Rating) last announced its earnings results on Thursday, September 1st. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). Hormel Foods had a return on equity of 13.92% and a net margin of 7.93%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the firm posted $0.39 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. As a group, equities analysts expect that Hormel Foods Co. will post 1.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on HRL. Stephens lowered their price target on Hormel Foods to $52.00 in a research report on Tuesday, September 6th. Credit Suisse Group lowered their price target on Hormel Foods to $44.00 in a research report on Friday, June 3rd. Finally, Piper Sandler lowered their price target on Hormel Foods from $48.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, September 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and a consensus price target of $48.67.

About Hormel Foods

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Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other.

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

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