Pacer Advisors Inc. Grows Holdings in Hormel Foods Corporation (HRL)

Pacer Advisors Inc. boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,054 shares of the company’s stock after purchasing an additional 464 shares during the quarter. Pacer Advisors Inc.’s holdings in Hormel Foods Corporation were worth $207,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in Hormel Foods Corporation by 19.7% during the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,092 shares of the company’s stock worth $1,913,000 after purchasing an additional 9,246 shares during the period. USS Investment Management Ltd increased its holdings in Hormel Foods Corporation by 262.5% during the 2nd quarter. USS Investment Management Ltd now owns 567,000 shares of the company’s stock worth $19,343,000 after purchasing an additional 410,602 shares during the period. Andra AP fonden increased its holdings in Hormel Foods Corporation by 0.7% during the 2nd quarter. Andra AP fonden now owns 149,800 shares of the company’s stock worth $5,110,000 after purchasing an additional 1,100 shares during the period. Penserra Capital Management LLC purchased a new position in Hormel Foods Corporation during the 2nd quarter worth $189,000. Finally, Royce & Associates LP increased its holdings in Hormel Foods Corporation by 5.3% during the 2nd quarter. Royce & Associates LP now owns 237,157 shares of the company’s stock worth $8,089,000 after purchasing an additional 12,000 shares during the period. Institutional investors own 38.91% of the company’s stock.

In other news, VP James N. Sheehan sold 35,704 shares of the company’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the sale, the vice president now owns 60,000 shares of the company’s stock, valued at $1,852,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald H. Kremin sold 100,000 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $31.66, for a total value of $3,166,000.00. Following the sale, the insider now directly owns 887 shares in the company, valued at approximately $28,082.42. The disclosure for this sale can be found here. Insiders have sold 165,843 shares of company stock worth $5,235,409 in the last ninety days. Corporate insiders own 3.54% of the company’s stock.

Shares of Hormel Foods Corporation (NYSE:HRL) opened at 31.38 on Friday. The company has a market cap of $16.56 billion, a PE ratio of 19.37 and a beta of 0.58. The firm’s 50-day moving average price is $32.74 and its 200 day moving average price is $33.93. Hormel Foods Corporation has a 12 month low of $30.50 and a 12 month high of $38.84.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 24th. The company reported $0.34 earnings per share 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 company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.24 billion. During the same period in the prior year, the company posted $0.36 EPS. The firm’s revenue was down 4.1% compared to the same quarter last year. Equities research analysts anticipate that Hormel Foods Corporation will post $1.56 earnings per share for the current fiscal year.

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HRL has been the topic of several research reports. Credit Suisse Group reduced their price objective on Hormel Foods Corporation from $41.00 to $39.00 and set a “buy” rating on the stock in a report on Friday, May 26th. BidaskClub raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Monday, August 14th. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research report on Friday, June 30th. Zacks Investment Research raised Hormel Foods Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, June 7th. Finally, Mizuho assumed coverage on Hormel Foods Corporation in a research report on Wednesday, June 7th. They set a “neutral” rating and a $35.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.30.

About Hormel Foods Corporation

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

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