Financial Advisors Network Inc. Purchases Shares of 10,233 Hormel Foods Corporation $HRL

Key Points

• Financial Advisors Network Inc. recently acquired 10,233 shares of Hormel Foods Corporation valued at approximately $317,000, marking a new investment in the company.
• Multiple hedge funds have significantly increased their stakes in Hormel Foods, with Pacer Advisors Inc. raising its holdings by an astonishing 9,725.4% in the 1st quarter.
• Analysts have mixed ratings for Hormel Foods, with a current average price target of $32.86 and four analysts recommending a hold rating, while The Goldman Sachs Group initiated a buy rating with a target of $35.00.

Financial Advisors Network Inc. bought a new position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 10,233 shares of the company's stock, valued at approximately $317,000.

Other hedge funds have also modified their holdings of the company. Quantbot Technologies LP raised its position in Hormel Foods by 16.2% in the 1st quarter. Quantbot Technologies LP now owns 63,627 shares of the company's stock worth $1,969,000 after purchasing an additional 8,867 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Hormel Foods by 8.4% during the first quarter. Wellington Management Group LLP now owns 22,781 shares of the company's stock worth $705,000 after acquiring an additional 1,765 shares during the last quarter. Korea Investment CORP raised its position in shares of Hormel Foods by 229.3% during the first quarter. Korea Investment CORP now owns 234,646 shares of the company's stock worth $7,260,000 after acquiring an additional 163,400 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Hormel Foods by 1.4% during the first quarter. Northern Trust Corp now owns 3,007,461 shares of the company's stock valued at $93,051,000 after acquiring an additional 41,236 shares during the period. Finally, Raymond James Financial Inc. boosted its holdings in Hormel Foods by 13.6% in the first quarter. Raymond James Financial Inc. now owns 285,649 shares of the company's stock valued at $8,838,000 after acquiring an additional 34,102 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Trading Up 1.1%

Shares of NYSE HRL traded up $0.3150 during midday trading on Friday, reaching $29.2250. 2,258,494 shares of the stock were exchanged, compared to its average volume of 3,290,349. Hormel Foods Corporation has a 12 month low of $27.59 and a 12 month high of $33.80. The company has a market capitalization of $16.07 billion, a price-to-earnings ratio of 21.49, a P/E/G ratio of 3.28 and a beta of 0.31. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.17. The business has a 50-day simple moving average of $29.50 and a two-hundred day simple moving average of $29.68.

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

Wall Street Analyst Weigh In

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

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.