Corient Private Wealth LP Takes $1.64 Million Position in Hormel Foods Corporation $HRL

Corient Private Wealth LP purchased a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 66,158 shares of the company's stock, valued at approximately $1,642,000.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp boosted its holdings in Hormel Foods by 1.0% in the 3rd quarter. State Street Corp now owns 28,338,645 shares of the company's stock valued at $701,098,000 after purchasing an additional 269,941 shares during the period. BlackRock Inc. bought a new position in shares of Hormel Foods during the second quarter worth approximately $489,092,000. Invesco Ltd. increased its holdings in shares of Hormel Foods by 66.5% during the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company's stock worth $280,352,000 after purchasing an additional 4,526,167 shares during the period. Geode Capital Management LLC raised its position in shares of Hormel Foods by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,080,832 shares of the company's stock valued at $190,805,000 after buying an additional 63,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Hormel Foods by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 6,849,174 shares of the company's stock valued at $155,152,000 after buying an additional 134,983 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Stock Down 1.5%

HRL stock opened at $21.71 on Friday. The stock has a market capitalization of $11.95 billion, a P/E ratio of 34.46, a price-to-earnings-growth ratio of 2.59 and a beta of 0.33. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $26.60. The firm has a 50-day moving average price of $24.51 and a 200-day moving average price of $23.31.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. The company had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm's quarterly revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. As a group, equities research analysts anticipate that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at Hormel Foods

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the business's stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the sale, the director owned 32,002 shares of the company's stock, valued at approximately $784,369.02. The trade was a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.58% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. BNP Paribas Exane cut their price target on Hormel Foods from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, August 28th. Bank of America raised their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. Stephens set a $23.00 price objective on Hormel Foods in a report on Friday, August 28th. JPMorgan Chase & Co. upped their target price on Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, August 14th. Finally, Weiss Ratings lowered Hormel Foods from a "hold (c-)" rating to a "sell (d+)" rating in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $26.14.

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.

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