EP Wealth Advisors LLC Has $462,000 Position in Hormel Foods Co. (NYSE:HRL)

EP Wealth Advisors LLC lowered its holdings in shares of Hormel Foods Co. (NYSE:HRL – Get Rating) by 31.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,161 shares of the company’s stock after selling 4,556 shares during the quarter. EP Wealth Advisors LLC’s holdings in Hormel Foods were worth $462,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Hormel Foods by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 35,040,460 shares of the company’s stock valued at $1,592,240,000 after buying an additional 736,656 shares during the last quarter. BlackRock Inc. raised its position in Hormel Foods by 0.9% in the 3rd quarter. BlackRock Inc. now owns 29,480,525 shares of the company’s stock valued at $1,339,595,000 after buying an additional 258,643 shares during the last quarter. State Street Corp raised its position in Hormel Foods by 1.8% in the 3rd quarter. State Street Corp now owns 27,499,345 shares of the company’s stock valued at $1,249,570,000 after buying an additional 498,351 shares during the last quarter. ProShare Advisors LLC raised its position in Hormel Foods by 6.9% in the 3rd quarter. ProShare Advisors LLC now owns 3,390,858 shares of the company’s stock valued at $154,080,000 after buying an additional 219,733 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Hormel Foods by 7.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,973,863 shares of the company’s stock valued at $140,842,000 after buying an additional 209,200 shares during the last quarter. Institutional investors and hedge funds own 39.74% of the company’s stock.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $38.35 on Friday. The company has a current ratio of 2.33, a quick ratio of 1.07 and a debt-to-equity ratio of 0.43. Hormel Foods Co. has a 12 month low of $38.22 and a 12 month high of $55.11. The stock has a 50 day moving average of $43.92 and a 200-day moving average of $45.68. The company has a market capitalization of $20.96 billion, a P/E ratio of 21.42, a P/E/G ratio of 3.86 and a beta of 0.18.

Hormel Foods (NYSE:HRL – Get Rating) last issued its earnings results on Thursday, March 2nd. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.05). Hormel Foods had a return on equity of 13.10% and a net margin of 7.90%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s revenue was down 2.4% compared to the same quarter last year. As a group, equities research analysts predict that Hormel Foods Co. will post 1.75 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com assumed coverage on Hormel Foods in a research report on Thursday. They issued a “hold” rating on the stock. Barclays dropped their target price on Hormel Foods from $48.00 to $45.00 in a research report on Friday, March 3rd. Stephens decreased their price target on Hormel Foods from $52.00 to $47.00 and set an “equal weight” rating for the company in a research note on Monday, March 6th. Bank of America decreased their price target on Hormel Foods from $45.00 to $41.00 in a research note on Monday, March 6th. Finally, TheStreet downgraded Hormel Foods from a “b” rating to a “c+” rating in a research note on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $44.71.

Hormel Foods Profile

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Hormel Foods Corp. engages in the production of meat and food products. It operates through the following segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International and Other. The Grocery Products segment focuses on the processing, marketing, and sale of shelf-stable food products sold in the retail market.