ICA Group Wealth Management LLC Reduces Stock Position in Hormel Foods Co. (NYSE:HRL)

ICA Group Wealth Management LLC lowered its position in shares of Hormel Foods Co. (NYSE:HRL) by 15.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,986 shares of the company’s stock after selling 526 shares during the period. ICA Group Wealth Management LLC’s holdings in Hormel Foods were worth $119,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HRL. Verition Fund Management LLC raised its holdings in Hormel Foods by 3.2% in the 4th quarter. Verition Fund Management LLC now owns 7,456 shares of the company’s stock worth $340,000 after purchasing an additional 231 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Hormel Foods by 1.1% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 20,805 shares of the company’s stock worth $948,000 after acquiring an additional 235 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its stake in shares of Hormel Foods by 3.2% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,051 shares of the company’s stock worth $367,000 after acquiring an additional 253 shares in the last quarter. SeaCrest Wealth Management LLC grew its position in Hormel Foods by 3.2% during the 4th quarter. SeaCrest Wealth Management LLC now owns 8,258 shares of the company’s stock valued at $376,000 after purchasing an additional 258 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in Hormel Foods by 1.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 19,197 shares of the company’s stock valued at $766,000 after purchasing an additional 282 shares during the last quarter. Hedge funds and other institutional investors own 41.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HRL. StockNews.com began coverage on shares of Hormel Foods in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Barclays dropped their price target on shares of Hormel Foods from $45.00 to $42.00 in a report on Thursday, June 1st. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $43.71.

Hormel Foods Stock Performance

HRL opened at $37.12 on Monday. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 0.31. The company has a market cap of $20.29 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 3.82 and a beta of 0.20. The company’s 50 day moving average is $39.73 and its 200 day moving average is $40.02. Hormel Foods Co. has a 12-month low of $36.78 and a 12-month high of $49.73.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 31st. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.01). The business had revenue of $2.96 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Hormel Foods had a return on equity of 12.20% and a net margin of 7.20%. The business’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.40 EPS. On average, equities research analysts predict that Hormel Foods Co. will post 1.66 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Pierre M. Lilly bought 1,454 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $37.25 per share, for a total transaction of $54,161.50. Following the purchase, the senior vice president now owns 1,454 shares in the company, valued at $54,161.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Mark J. Ourada sold 9,200 shares of Hormel Foods stock in a transaction that occurred on Tuesday, June 13th. The shares were sold at an average price of $41.00, for a total transaction of $377,200.00. Following the sale, the vice president now owns 20,684 shares in the company, valued at $848,044. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Pierre M. Lilly acquired 1,454 shares of Hormel Foods stock in a transaction dated Wednesday, September 6th. The shares were bought at an average price of $37.25 per share, for a total transaction of $54,161.50. Following the transaction, the senior vice president now owns 1,454 shares of the company’s stock, valued at $54,161.50. The disclosure for this purchase can be found here. 0.81% of the stock is owned by company insiders.

About Hormel Foods

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.