Investors Research Corp Purchases Shares of 32,850 Hormel Foods Corporation $HRL

Investors Research Corp purchased a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 32,850 shares of the company’s stock, valued at approximately $815,000.

A number of other large investors also recently modified their holdings of the company. State Street Corp grew its holdings in shares of Hormel Foods by 1.0% during the 3rd quarter. State Street Corp now owns 28,338,645 shares of the company’s stock worth $701,098,000 after purchasing an additional 269,941 shares during the period. BlackRock Inc. purchased a new position in Hormel Foods in the second quarter valued at approximately $489,092,000. Invesco Ltd. raised its holdings in Hormel Foods by 66.5% in the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock valued at $280,352,000 after buying an additional 4,526,167 shares during the period. Geode Capital Management LLC lifted its position in Hormel Foods by 0.8% during the fourth quarter. Geode Capital Management LLC now owns 8,080,832 shares of the company’s stock valued at $190,805,000 after buying an additional 63,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Hormel Foods by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 6,849,174 shares of the company’s stock valued at $155,152,000 after buying an additional 134,983 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Stock Up 0.7%

Shares of Hormel Foods stock opened at $22.00 on Wednesday. The business has a 50-day moving average of $24.66 and a 200-day moving average of $23.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92. The company has a market capitalization of $12.11 billion, a PE ratio of 34.92, a P/E/G ratio of 2.63 and a beta of 0.33. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $26.60.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Hormel Foods had a return on equity of 9.91% and a net margin of 2.82%.The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. As a group, equities analysts forecast that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HRL shares. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research report on Thursday, May 21st. BNP Paribas Exane reduced their target price on shares of Hormel Foods from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 28th. JPMorgan Chase & Co. upped their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Bank of America increased their price target on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Tuesday, June 30th. Finally, Stephens set a $23.00 price objective on Hormel Foods in a research report on Friday. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.14.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director directly owned 32,002 shares of the company’s stock, valued at $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.58% of the stock is owned by corporate insiders.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.