JPMorgan Chase & Co. Grows Position in Hormel Foods Corporation $HRL

JPMorgan Chase & Co. lifted its position in Hormel Foods Corporation (NYSE:HRL) by 58.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,237,005 shares of the company’s stock after purchasing an additional 826,564 shares during the period. JPMorgan Chase & Co. owned about 0.41% of Hormel Foods worth $55,345,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Siemens Fonds Invest GmbH grew its stake in shares of Hormel Foods by 3.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company’s stock worth $332,000 after buying an additional 486 shares during the last quarter. Mystic Asset Management Inc. increased its position in Hormel Foods by 6.4% during the 3rd quarter. Mystic Asset Management Inc. now owns 8,300 shares of the company’s stock valued at $205,000 after buying an additional 500 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Hormel Foods by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 90,362 shares of the company’s stock valued at $2,236,000 after buying an additional 560 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Hormel Foods by 6.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 9,728 shares of the company’s stock worth $241,000 after acquiring an additional 567 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Hormel Foods by 7.5% in the third quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 8,125 shares of the company’s stock worth $201,000 after acquiring an additional 567 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Down 1.0%

Shares of NYSE:HRL opened at $22.15 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.66 and a quick ratio of 1.37. Hormel Foods Corporation has a 1 year low of $21.03 and a 1 year high of $32.07. The company has a market cap of $12.19 billion, a P/E ratio of 24.89, a PEG ratio of 2.69 and a beta of 0.32. The stock’s fifty day moving average price is $24.17 and its 200-day moving average price is $23.86.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HRL. JPMorgan Chase & Co. raised their price target on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Wall Street Zen upgraded shares of Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Stephens increased their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Zacks Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Bank of America lifted their target price on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $27.71.

About Hormel Foods

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.