Cresset Asset Management LLC Purchases 150,236 Shares of Hormel Foods Corporation $HRL

Key Points

• Cresset Asset Management LLC increased its stake in Hormel Foods by 148.9%, owning 251,143 shares valued at approximately $7.77 million.
• Several hedge funds have also adjusted their positions, with Allspring Global Investments boosting its stake by 180.4% in Q1.
• Analysts have mixed opinions on Hormel Foods, with a current average rating of "Moderate Buy" and a price target of $32.86.

Cresset Asset Management LLC grew its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 148.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,143 shares of the company's stock after buying an additional 150,236 shares during the period. Cresset Asset Management LLC's holdings in Hormel Foods were worth $7,770,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Exeter Financial LLC raised its position in Hormel Foods by 2.3% in the 1st quarter. Exeter Financial LLC now owns 16,809 shares of the company's stock valued at $520,000 after buying an additional 381 shares during the last quarter. Simmons Bank raised its position in Hormel Foods by 3.7% in the 1st quarter. Simmons Bank now owns 12,708 shares of the company's stock valued at $393,000 after buying an additional 448 shares during the last quarter. Sovereign Financial Group Inc. raised its position in Hormel Foods by 2.7% in the 1st quarter. Sovereign Financial Group Inc. now owns 17,718 shares of the company's stock valued at $548,000 after buying an additional 458 shares during the last quarter. G&S Capital LLC raised its position in Hormel Foods by 3.1% in the 1st quarter. G&S Capital LLC now owns 15,516 shares of the company's stock valued at $480,000 after buying an additional 463 shares during the last quarter. Finally, Blue Trust Inc. raised its position in Hormel Foods by 17.1% in the 1st quarter. Blue Trust Inc. now owns 3,220 shares of the company's stock valued at $100,000 after buying an additional 471 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on HRL shares. Stephens reaffirmed an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research report on Thursday, May 22nd. JPMorgan Chase & Co. raised Hormel Foods from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $29.00 to $34.00 in a research report on Wednesday. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price target on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group started coverage on Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 price target on the stock. Finally, BNP Paribas raised Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Hormel Foods presently has an average rating of "Moderate Buy" and a consensus price target of $33.00.

Hormel Foods Stock Performance

Shares of HRL stock traded up $0.3150 during trading on Friday, reaching $29.2250. 1,319,194 shares of the company's stock were exchanged, compared to its average volume of 3,137,837. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $16.07 billion, a PE ratio of 21.49, a PEG ratio of 3.26 and a beta of 0.31. Hormel Foods Corporation has a twelve month low of $27.59 and a twelve month high of $33.80. The firm's fifty day moving average price is $29.53 and its 200-day moving average price is $29.68.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, hitting analysts' consensus estimates of $0.35. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%.The firm's revenue was up .3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 EPS. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. As a group, sell-side analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current 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.