Alyeska Investment Group L.P. Increases Stock Holdings in Hormel Foods Corporation $HRL

Key Points

• Alyeska Investment Group L.P. significantly increased its position in Hormel Foods Corporation by 485.7%, owning 1,963,632 shares valued at approximately $60.76 million as of the latest reporting period.
• Multiple analysts have revised their price targets for Hormel Foods, with Bank of America lowering its target from $35.00 to $28.00 and maintaining a "neutral" rating, while JPMorgan gives it a target of $30.00 with an "overweight" rating.
• Hormel Foods reported a 4.6% year-over-year revenue growth for the quarter, generating $3.03 billion in revenue, but missed earnings per share expectations by $0.06.

Alyeska Investment Group L.P. increased its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 485.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,963,632 shares of the company's stock after acquiring an additional 1,628,382 shares during the period. Alyeska Investment Group L.P. owned approximately 0.36% of Hormel Foods worth $60,755,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Hormel Foods during the 1st quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Hormel Foods in the first quarter worth about $38,000. Quarry LP acquired a new stake in shares of Hormel Foods during the 1st quarter worth approximately $41,000. Riverview Trust Co grew its holdings in Hormel Foods by 183.8% during the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after purchasing an additional 1,018 shares during the period. Finally, YANKCOM Partnership boosted its holdings in shares of Hormel Foods by 18.5% in the first quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock valued at $95,000 after buying an additional 480 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays reissued an "overweight" rating and set a $34.00 price target (down from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. BNP Paribas Exane upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a research note on Tuesday, May 27th. The Goldman Sachs Group reduced their price objective on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Stephens restated an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research note on Thursday, May 22nd. Finally, BNP Paribas upgraded shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $30.88.

Hormel Foods Stock Performance

Shares of NYSE:HRL traded up $0.41 during midday trading on Friday, reaching $25.65. The company had a trading volume of 3,325,940 shares, compared to its average volume of 4,475,499. The company's 50 day moving average price is $28.73 and its 200 day moving average price is $29.52. The company has a current ratio of 2.47, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $14.10 billion, a P/E ratio of 18.72, a P/E/G ratio of 5.71 and a beta of 0.31. Hormel Foods Corporation has a 52-week low of $23.71 and a 52-week high of $33.80.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). The company had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $2.98 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.Hormel Foods's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm posted $0.37 earnings per share. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. As a group, sell-side analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current fiscal 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.