Bank of New York Mellon Corp Takes $36.88 Million Position in Hormel Foods Corporation $HRL

Key Points

• Bank of New York Mellon acquired 1.49 million Hormel Foods shares worth approximately $36.9 million, while institutional investors collectively own about 41% of HRL.
• Hormel beat quarterly EPS expectations at $0.37, but revenue fell 2.4% year over year to $2.96 billion and missed estimates. The company raised its fiscal 2026 adjusted EPS outlook to $1.45–$1.51 while cutting its revenue guidance to $12.1–$12.2 billion.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $26.14; concerns about weak consumer demand and declining sales contrast with the stock’s appeal to income investors because of its elevated dividend yield.

Bank of New York Mellon Corp acquired a new position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,485,724 shares of the company's stock, valued at approximately $36,876,000. Bank of New York Mellon Corp owned 0.27% of Hormel Foods as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in HRL. Invesco Ltd. grew its stake in shares of 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 in the last quarter. Norges Bank purchased a new stake in shares of Hormel Foods in the 4th quarter valued at $85,840,000. Epoch Investment Partners Inc. acquired a new position in Hormel Foods during the 1st quarter worth about $44,733,000. Freestone Grove Partners LP purchased a new position in Hormel Foods during the 4th quarter valued at about $43,340,000. Finally, Two Sigma Investments LP boosted its holdings in Hormel Foods by 126.2% during the 3rd quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company's stock valued at $78,538,000 after acquiring an additional 1,770,852 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Wall Street Analyst Weigh In

HRL has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Weiss Ratings raised Hormel Foods from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, August 12th. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a research note on Thursday, May 21st. BNP Paribas Exane decreased their target price on Hormel Foods from $27.00 to $26.00 and set a "neutral" rating for the company in a report on Friday. Finally, Bank of America upped their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Two investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Hormel Foods has a consensus rating of "Hold" and a consensus price target of $26.14.

Hormel Foods Trading Up 1.2%

NYSE:HRL opened at $21.53 on Friday. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $26.60. The company has a current ratio of 1.88, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The stock's 50 day simple moving average is $24.76 and its 200-day simple moving average is $23.38. The firm has a market cap of $11.85 billion, a P/E ratio of 34.18, a PEG ratio of 2.45 and a beta of 0.34.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $2.96 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 2.4% on a year-over-year basis. During the same period last year, the company earned $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Equities analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current year.

Key Headlines Impacting Hormel Foods

Here are the key news stories impacting Hormel Foods this week:

• Positive Sentiment: Hormel reported adjusted third-quarter EPS of $0.37, ahead of analyst estimates of approximately $0.35–$0.36 and up from $0.35 a year earlier. Margin expansion and cost management helped offset weaker volumes. Hormel Foods Q3 Earnings Beat on Margin Expansion, Sales Miss
• Positive Sentiment: Management raised and narrowed its fiscal 2026 adjusted EPS outlook to $1.45–$1.51, compared with prior guidance of $1.40–$1.50. Operating cash flow also increased 54% to $240.6 million. Hormel Foods Reports Third Quarter Fiscal 2026 Results
• Neutral Sentiment: BNP Paribas Exane lowered its HRL price target from $27 to $26 and assigned a neutral rating. The revised target still implies meaningful potential upside from recent levels, but the rating signals limited confidence in near-term growth. BNP Paribas Exane Hormel Foods Price Target Update
• Neutral Sentiment: Some analysts view Hormel’s elevated dividend yield—reported at roughly 5.5% after the sell-off—and valuation as attractive for long-term income investors, though earnings-based valuation remains a concern. Hormel Foods: A Protein Powerhouse With a Secure Yield
• Negative Sentiment: Third-quarter revenue fell 2.4% year over year to $2.96 billion, missing the roughly $3.03 billion consensus estimate. Retail sales declined 4%, international sales dropped 5%, and management cited pressured consumers, lower commodity prices and weak private-label snack-nut demand. Hormel Foods Cuts Annual Sales Forecast
• Negative Sentiment: Hormel reduced fiscal 2026 revenue guidance to $12.1–$12.2 billion from $12.2–$12.5 billion, reinforcing concerns that sluggish demand and falling sales will limit growth despite improved margins and EPS. Why Hormel Foods Stock Swooned

Insiders Place Their Bets

In other news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares of the company's stock, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.58% of the company's stock.

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.

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