Hormel Foods Corporation $HRL Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. lifted its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 297.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,198,564 shares of the company’s stock after purchasing an additional 3,142,670 shares during the quarter. Victory Capital Management Inc.’s holdings in Hormel Foods were worth $103,815,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caxton Associates LLP acquired a new stake in shares of Hormel Foods in the 1st quarter worth $310,000. Empowered Funds LLC increased its position in Hormel Foods by 1.8% during the 1st quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock worth $1,779,000 after purchasing an additional 993 shares during the period. Woodline Partners LP increased its position in Hormel Foods by 40.8% during the 1st quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock worth $761,000 after purchasing an additional 7,129 shares during the period. Bessemer Group Inc. raised its stake in shares of Hormel Foods by 134.0% during the 2nd quarter. Bessemer Group Inc. now owns 3,402 shares of the company’s stock worth $103,000 after buying an additional 1,948 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Hormel Foods by 1,490.7% in the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock valued at $47,000 after buying an additional 1,446 shares during the period. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Trading Down 0.7%

Shares of HRL stock opened at $24.44 on Thursday. The stock has a market cap of $13.45 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.96 and a beta of 0.32. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a fifty-two week low of $21.03 and a fifty-two week high of $32.07. The business has a fifty day simple moving average of $24.27 and a 200-day simple moving average of $24.23.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The firm’s revenue was up 1.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Stephens boosted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Wall Street Zen upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Barclays set a $30.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a research note on Tuesday, December 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $27.71.

Hormel Foods 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.