Trust Co. of Virginia VA Has $247,000 Holdings in Hormel Foods Corporation (HRL)

Trust Co. of Virginia VA cut its position in shares of Hormel Foods Corporation (NYSE:HRL) by 7.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,260 shares of the company’s stock after selling 600 shares during the period. Trust Co. of Virginia VA’s holdings in Hormel Foods Corporation were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Cleararc Capital Inc. raised its stake in Hormel Foods Corporation by 0.3% during the first quarter. Cleararc Capital Inc. now owns 6,595 shares of the company’s stock worth $228,000 after purchasing an additional 19 shares during the period. Bronfman E.L. Rothschild L.P. raised its stake in Hormel Foods Corporation by 0.4% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 4,766 shares of the company’s stock worth $163,000 after purchasing an additional 19 shares during the period. Harfst & Associates Inc. raised its stake in Hormel Foods Corporation by 0.4% during the first quarter. Harfst & Associates Inc. now owns 10,021 shares of the company’s stock worth $347,000 after purchasing an additional 40 shares during the period. ING Groep NV raised its stake in Hormel Foods Corporation by 0.4% during the second quarter. ING Groep NV now owns 13,807 shares of the company’s stock worth $471,000 after purchasing an additional 53 shares during the period. Finally, Dynamic Advisors Solutions LLC raised its stake in Hormel Foods Corporation by 0.6% during the second quarter. Dynamic Advisors Solutions LLC now owns 10,290 shares of the company’s stock worth $351,000 after purchasing an additional 65 shares during the period. 38.91% of the stock is currently owned by institutional investors.

A number of equities analysts have commented on the stock. BidaskClub downgraded shares of Hormel Foods Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. Buckingham Research reduced their target price on shares of Hormel Foods Corporation from $37.00 to $33.00 and set a “neutral” rating on the stock in a research note on Friday, August 25th. Barclays PLC assumed coverage on shares of Hormel Foods Corporation in a research note on Tuesday, June 6th. They set an “overweight” rating and a $38.00 target price on the stock. Jefferies Group LLC reaffirmed a “hold” rating and set a $34.00 target price on shares of Hormel Foods Corporation in a research note on Monday, June 12th. Finally, Credit Suisse Group downgraded shares of Hormel Foods Corporation from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $39.00 to $33.00 in a research note on Friday, August 25th. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Hormel Foods Corporation has an average rating of “Hold” and a consensus target price of $38.36.

Hormel Foods Corporation (NYSE:HRL) traded up 0.51% during midday trading on Monday, hitting $31.76. 215,817 shares of the stock were exchanged. Hormel Foods Corporation has a 12-month low of $30.50 and a 12-month high of $38.84. The firm has a 50 day moving average of $33.08 and a 200-day moving average of $34.04. The stock has a market cap of $16.77 billion, a price-to-earnings ratio of 19.60 and a beta of 0.58.

Hormel Foods Corporation (NYSE:HRL) last posted its quarterly earnings results on Thursday, August 24th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.03. Hormel Foods Corporation had a net margin of 9.38% and a return on equity of 18.90%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the previous year, the business posted $0.36 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. On average, equities analysts expect that Hormel Foods Corporation will post $1.56 earnings per share for the current year.

In related news, insider Steven G. Binder sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $31.23, for a total value of $468,450.00. Following the transaction, the insider now owns 26,838 shares in the company, valued at $838,150.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP James N. Sheehan sold 35,704 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $30.87, for a total transaction of $1,102,182.48. Following the completion of the transaction, the vice president now owns 60,000 shares in the company, valued at approximately $1,852,200. The disclosure for this sale can be found here. Insiders sold 63,143 shares of company stock worth $1,988,262 in the last 90 days. 3.54% of the stock is currently owned by insiders.

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About Hormel Foods Corporation

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

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