AMG National Trust Bank Sells 7,356 Shares of Hormel Foods Co. (NYSE:HRL)

AMG National Trust Bank decreased its position in Hormel Foods Co. (NYSE:HRL) by 1.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 428,336 shares of the company’s stock after selling 7,356 shares during the quarter. AMG National Trust Bank owned about 0.08% of Hormel Foods worth $13,060,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in HRL. Norges Bank bought a new stake in Hormel Foods during the fourth quarter worth about $62,323,000. Goldman Sachs Group Inc. boosted its position in shares of Hormel Foods by 97.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,900,989 shares of the company’s stock worth $93,151,000 after acquiring an additional 1,434,437 shares in the last quarter. ProShare Advisors LLC increased its stake in Hormel Foods by 9.9% in the first 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 during the last quarter. Vest Financial LLC raised its position in Hormel Foods by 40.6% during the first quarter. Vest Financial LLC now owns 1,221,147 shares of the company’s stock valued at $42,606,000 after purchasing an additional 352,896 shares in the last quarter. Finally, Swedbank AB bought a new stake in Hormel Foods during the first quarter worth $10,140,000. Institutional investors own 40.99% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. 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. JPMorgan Chase & Co. raised shares of Hormel Foods from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $28.00 to $29.00 in a report on Friday, May 31st. Finally, Citigroup raised Hormel Foods from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $37.00 in a report on Tuesday, August 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.33.

Hormel Foods Trading Down 0.2 %

HRL traded down $0.07 during trading on Friday, hitting $31.88. The company’s stock had a trading volume of 2,325,931 shares, compared to its average volume of 2,694,847. The firm has a market capitalization of $17.48 billion, a P/E ratio of 22.77, a PEG ratio of 3.11 and a beta of 0.24. Hormel Foods Co. has a twelve month low of $28.51 and a twelve month high of $40.12. The stock’s fifty day moving average price is $31.34 and its 200-day moving average price is $32.70. The company has a quick ratio of 1.00, a current ratio of 1.73 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 30th. The company reported $0.38 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the firm earned $0.40 earnings per share. Hormel Foods’s revenue was down 2.9% on a year-over-year basis. Analysts anticipate that Hormel Foods Co. will post 1.6 EPS for the current year.

Hormel Foods 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.