Pittenger & Anderson Inc. Sells 1,170 Shares of Hormel Foods Corporation (NYSE:HRL)

Pittenger & Anderson Inc. reduced its position in shares of Hormel Foods Corporation (NYSE:HRL) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,440 shares of the company’s stock after selling 1,170 shares during the period. Pittenger & Anderson Inc.’s holdings in Hormel Foods Corporation were worth $3,392,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CLS Investments LLC raised its holdings in Hormel Foods Corporation by 4.7% during the second quarter. CLS Investments LLC now owns 38,530 shares of the company’s stock worth $1,314,000 after purchasing an additional 1,723 shares in the last quarter. Swiss National Bank increased its holdings in Hormel Foods Corporation by 20.2% in the first quarter. Swiss National Bank now owns 1,413,994 shares of the company’s stock valued at $48,967,000 after buying an additional 237,500 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in Hormel Foods Corporation by 24.1% in the first quarter. Jacobi Capital Management LLC now owns 10,300 shares of the company’s stock valued at $355,000 after buying an additional 2,000 shares in the last quarter. Hills Bank & Trust Co. purchased a new position in Hormel Foods Corporation in the second quarter valued at about $210,000. Finally, Nexus Investment Management Inc. increased its holdings in Hormel Foods Corporation by 33.3% in the second quarter. Nexus Investment Management Inc. now owns 8,000 shares of the company’s stock valued at $273,000 after buying an additional 2,000 shares in the last quarter. 38.95% of the stock is owned by hedge funds and other institutional investors.

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In other news, insider Steven G. Binder sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $32.00, for a total transaction of $480,000.00. Following the sale, the insider now owns 26,838 shares in the company, valued at $858,816. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dakota A. Pippins sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $31.60, for a total transaction of $126,400.00. Following the sale, the director now owns 92,377 shares in the company, valued at approximately $2,919,113.20. The disclosure for this sale can be found here. Insiders sold a total of 180,843 shares of company stock worth $5,715,409 over the last quarter. Insiders own 3.54% of the company’s stock.

Hormel Foods Corporation (NYSE HRL) opened at 31.27 on Friday. The stock’s 50 day moving average is $32.60 and its 200-day moving average is $33.86. Hormel Foods Corporation has a 52 week low of $30.50 and a 52 week high of $38.84. The stock has a market capitalization of $16.51 billion, a PE ratio of 19.30 and a beta of 0.58.

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

A number of research analysts have issued reports on the stock. BidaskClub cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a report on Tuesday, June 6th. They issued an “overweight” rating and a $38.00 target price for the company. Buckingham Research dropped their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating for the company in a report on Friday, August 25th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $34.00 target price on shares of Hormel Foods Corporation in a report on Monday, June 12th. Finally, Zacks Investment Research cut shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a report on Monday, August 21st. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $38.30.

Hormel Foods Corporation Company Profile

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

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