Hormel Foods Corporation $HRL Shares Sold by Canada Pension Plan Investment Board

Key Points

• The Canada Pension Plan Investment Board reduced its holdings in Hormel Foods Corporation by 28.3%, now owning 559,473 shares worth approximately $17.31 million.
• Several institutional investors modified their positions in Hormel Foods during the first quarter, indicating a trend of changing investment strategies around the stock.
• Wall Street analysts have set a moderate buy rating for Hormel Foods, with an average price target of $30.88, despite some recent price target reductions.

Canada Pension Plan Investment Board cut its position in Hormel Foods Corporation (NYSE:HRL - Free Report) by 28.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 559,473 shares of the company's stock after selling 221,259 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Hormel Foods worth $17,310,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. State of Wyoming acquired a new stake in shares of Hormel Foods in the first quarter valued at $104,000. Landscape Capital Management L.L.C. grew its stake in shares of Hormel Foods by 44.8% in the first quarter. Landscape Capital Management L.L.C. now owns 156,446 shares of the company's stock valued at $4,840,000 after buying an additional 48,376 shares in the last quarter. OMERS ADMINISTRATION Corp grew its stake in shares of Hormel Foods by 788.6% in the first quarter. OMERS ADMINISTRATION Corp now owns 111,906 shares of the company's stock valued at $3,462,000 after buying an additional 99,313 shares in the last quarter. B. Metzler seel. Sohn & Co. AG grew its stake in shares of Hormel Foods by 895.9% in the first quarter. B. Metzler seel. Sohn & Co. AG now owns 67,610 shares of the company's stock valued at $2,092,000 after buying an additional 60,821 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its stake in shares of Hormel Foods by 10.1% in the first quarter. CreativeOne Wealth LLC now owns 49,497 shares of the company's stock valued at $1,531,000 after buying an additional 4,537 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 target price for the company in a research note on Tuesday, May 27th. Bank of America lowered their target price on Hormel Foods from $35.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Stephens reaffirmed an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a report on Thursday, May 22nd. Zacks Research downgraded Hormel Foods from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. decreased their price target on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $30.88.

Hormel Foods Stock Performance

Shares of Hormel Foods stock traded up $0.41 on Friday, hitting $25.65. The stock had a trading volume of 3,325,940 shares, compared to its average volume of 4,475,499. Hormel Foods Corporation has a 52-week low of $23.71 and a 52-week high of $33.80. 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 price-to-earnings ratio of 18.72, a P/E/G ratio of 5.62 and a beta of 0.31. The company's 50 day moving average price is $28.73 and its 200 day moving average price is $29.51.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $2.98 billion. Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous 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. On average, research analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Profile

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.