Stiles Financial Services Inc Has $495,000 Stake in Hormel Foods Co. (NYSE:HRL)

Stiles Financial Services Inc lowered its holdings in shares of Hormel Foods Co. (NYSE:HRL) by 18.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,248 shares of the company’s stock after selling 3,778 shares during the period. Stiles Financial Services Inc’s holdings in Hormel Foods were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of Hormel Foods by 9.9% during the 1st quarter. ProShare Advisors LLC now owns 5,638,546 shares of the company’s stock valued at $196,729,000 after acquiring an additional 505,942 shares in the last quarter. Mairs & Power Inc. boosted its holdings in Hormel Foods by 2.0% during the fourth quarter. Mairs & Power Inc. now owns 5,459,039 shares of the company’s stock valued at $175,290,000 after purchasing an additional 108,944 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Hormel Foods by 97.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock valued at $93,151,000 after purchasing an additional 1,434,437 shares during the period. Stifel Financial Corp lifted its position in shares of Hormel Foods by 5.8% during the 4th quarter. Stifel Financial Corp now owns 2,654,609 shares of the company’s stock worth $85,239,000 after buying an additional 144,605 shares during the period. Finally, First Trust Advisors LP lifted its position in shares of Hormel Foods by 8.2% during the 4th quarter. First Trust Advisors LP now owns 2,583,700 shares of the company’s stock worth $82,963,000 after buying an additional 196,460 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Price Performance

Shares of Hormel Foods stock traded up $0.36 during trading on Monday, reaching $32.55. The company’s stock had a trading volume of 3,679,900 shares, compared to its average volume of 2,681,296. The stock has a 50-day moving average price of $31.53 and a two-hundred day moving average price of $32.83. The stock has a market capitalization of $17.85 billion, a P/E ratio of 23.25, a price-to-earnings-growth ratio of 3.12 and a beta of 0.24. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. Hormel Foods Co. has a one year low of $28.51 and a one year high of $40.12.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, May 30th. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.02. Hormel Foods had a net margin of 6.37% and a return on equity of 11.31%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter last year, the company posted $0.40 EPS. The company’s quarterly revenue was down 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Hormel Foods Co. will post 1.6 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Citigroup upgraded Hormel Foods from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $37.00 in a research note on Tuesday, August 13th. Stephens reissued an “equal weight” rating and set a $32.00 price target on shares of Hormel Foods in a report on Friday, May 31st. Finally, JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $28.00 to $29.00 in a report on Friday, May 31st. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods currently has a consensus rating of “Hold” and a consensus price target of $32.33.

Hormel Foods Company Profile

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.