Hormel Foods Co. (NYSE:HRL) Shares Sold by Cherry Tree Wealth Management LLC

Cherry Tree Wealth Management LLC lessened its position in Hormel Foods Co. (NYSE:HRL) by 9.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 13,732 shares of the company’s stock after selling 1,494 shares during the period. Cherry Tree Wealth Management LLC’s holdings in Hormel Foods were worth $431,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HRL. Blue Trust Inc. raised its position in Hormel Foods by 212.9% in the third quarter. Blue Trust Inc. now owns 3,893 shares of the company’s stock worth $119,000 after acquiring an additional 2,649 shares in the last quarter. Raymond James & Associates increased its holdings in shares of Hormel Foods by 4.9% in the 3rd quarter. Raymond James & Associates now owns 164,216 shares of the company’s stock valued at $5,206,000 after purchasing an additional 7,663 shares in the last quarter. Private Advisor Group LLC lifted its stake in shares of Hormel Foods by 12.2% in the third quarter. Private Advisor Group LLC now owns 102,418 shares of the company’s stock valued at $3,247,000 after purchasing an additional 11,170 shares during the period. International Assets Investment Management LLC boosted its holdings in Hormel Foods by 3,481.2% during the third quarter. International Assets Investment Management LLC now owns 40,432 shares of the company’s stock worth $12,820,000 after buying an additional 39,303 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Hormel Foods by 328.3% during the third quarter. Assenagon Asset Management S.A. now owns 514,116 shares of the company’s stock worth $16,297,000 after buying an additional 394,068 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

HRL has been the subject of a number of research reports. Stephens reiterated an “equal weight” rating and set a $31.00 price target on shares of Hormel Foods in a research report on Tuesday, February 18th. Citigroup decreased their target price on Hormel Foods from $36.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, November 19th. Finally, Barclays upgraded Hormel Foods from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $31.17.

Insiders Place Their Bets

In other Hormel Foods news, VP Steven J. Lykken bought 4,904 shares of Hormel Foods stock in a transaction that occurred on Friday, December 6th. The shares were purchased at an average cost of $32.47 per share, for a total transaction of $159,232.88. Following the completion of the transaction, the vice president now owns 7,100 shares of the company’s stock, valued at $230,537. This represents a 223.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.72% of the stock is owned by corporate insiders.

Hormel Foods Price Performance

Shares of NYSE:HRL opened at $29.66 on Monday. Hormel Foods Co. has a one year low of $28.03 and a one year high of $36.86. The stock has a market cap of $16.28 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 2.73 and a beta of 0.26. The business’s fifty day moving average price is $30.31 and its two-hundred day moving average price is $31.14. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.19 and a current ratio of 2.32.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.42 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.01). Hormel Foods had a return on equity of 10.95% and a net margin of 6.75%. The company had revenue of $3.14 billion for the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter in the prior year, the business posted $0.42 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts forecast that Hormel Foods Co. will post 1.65 EPS for the current fiscal year.

About Hormel Foods

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.