Atria Wealth Solutions Inc. Grows Stock Position in Hormel Foods Co. (NYSE:HRL)

Atria Wealth Solutions Inc. raised its stake in shares of Hormel Foods Co. (NYSE:HRL - Free Report) by 25.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 98,191 shares of the company's stock after purchasing an additional 19,984 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Hormel Foods were worth $2,994,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Empirical Finance LLC increased its holdings in shares of Hormel Foods by 3.7% during the first quarter. Empirical Finance LLC now owns 9,912 shares of the company's stock worth $346,000 after buying an additional 352 shares in the last quarter. Federated Hermes Inc. increased its holdings in Hormel Foods by 21.1% during the 4th quarter. Federated Hermes Inc. now owns 2,069 shares of the company's stock valued at $66,000 after purchasing an additional 361 shares in the last quarter. First Trust Direct Indexing L.P. raised its position in Hormel Foods by 2.0% in the 1st quarter. First Trust Direct Indexing L.P. now owns 20,291 shares of the company's stock valued at $708,000 after purchasing an additional 389 shares during the last quarter. Viawealth LLC boosted its stake in Hormel Foods by 2.4% in the first quarter. Viawealth LLC now owns 17,126 shares of the company's stock worth $598,000 after purchasing an additional 401 shares in the last quarter. Finally, D.A. Davidson & CO. grew its holdings in shares of Hormel Foods by 4.4% during the fourth quarter. D.A. Davidson & CO. now owns 9,663 shares of the company's stock worth $310,000 after purchasing an additional 403 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on HRL. Citigroup upgraded shares of Hormel Foods from a "neutral" rating to a "buy" rating and upped their price target for the stock from $33.00 to $37.00 in a research report on Tuesday, August 13th. Stephens reissued an "equal weight" rating and set a $32.00 price target on shares of Hormel Foods in a research note on Friday, May 31st. Finally, JPMorgan Chase & Co. upgraded shares of Hormel Foods from an "underweight" rating to a "neutral" rating and boosted their price objective for the stock from $28.00 to $29.00 in a research report on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Hormel Foods presently has an average rating of "Hold" and a consensus price target of $32.33.

Hormel Foods Trading Down 1.5 %

Shares of NYSE:HRL traded down $0.49 during trading on Thursday, hitting $31.95. 1,651,322 shares of the company's stock were exchanged, compared to its average volume of 2,697,121. The company has a current ratio of 1.73, a quick ratio of 1.00 and a debt-to-equity ratio of 0.36. The firm has a market cap of $17.52 billion, a P/E ratio of 22.82, a PEG ratio of 3.11 and a beta of 0.24. The firm has a 50-day moving average price of $31.32 and a two-hundred day moving average price of $32.67. Hormel Foods Co. has a 1-year low of $28.51 and a 1-year high of $40.12.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its earnings results on Thursday, May 30th. The company reported $0.38 EPS for the quarter, beating 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 company had revenue of $2.89 billion during the quarter, compared to analysts' expectations of $2.97 billion. During the same quarter in the previous year, the company posted $0.40 EPS. The business's revenue for the quarter was down 2.9% compared to the same quarter last year. Equities analysts predict that Hormel Foods Co. will post 1.6 earnings per share for the current year.

About Hormel Foods

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.