HighTower Advisors LLC Has $3.13 Million Holdings in Hormel Foods Corporation $HRL

Key Points

• HighTower Advisors LLC increased its stake in Hormel Foods Corporation by 23.7%, owning 101,050 shares worth approximately $3.1 million as of the end of the first quarter.
• Analyst ratings for Hormel Foods have improved, with JPMorgan upgrading it from "neutral" to "overweight" and setting a price target of $34.
• Hormel Foods reported earnings of $0.35 per share for the latest quarter, mirroring the consensus estimate, and has provided FY 2025 guidance of earnings per share between 1.580 and 1.680.

HighTower Advisors LLC raised its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 23.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,050 shares of the company's stock after purchasing an additional 19,391 shares during the period. HighTower Advisors LLC's holdings in Hormel Foods were worth $3,126,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Hormel Foods during the 1st quarter worth about $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hormel Foods during the 1st quarter worth about $38,000. Riverview Trust Co raised its stake in shares of Hormel Foods by 183.8% during the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares in the last quarter. YANKCOM Partnership raised its stake in shares of Hormel Foods by 18.5% during the 1st quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock worth $95,000 after purchasing an additional 480 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Hormel Foods by 34.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,187 shares of the company's stock worth $99,000 after purchasing an additional 816 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HRL shares. Stephens reissued an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a report on Thursday, May 22nd. BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective on the stock in a report on Tuesday, May 27th. BNP Paribas raised Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. The Goldman Sachs Group started coverage on Hormel Foods in a report on Monday, June 23rd. They set a "buy" rating and a $35.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised Hormel Foods from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $29.00 to $34.00 in a report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $33.00.

Hormel Foods Stock Performance

Shares of Hormel Foods stock traded up $0.26 during midday trading on Wednesday, hitting $29.02. The company had a trading volume of 4,646,679 shares, compared to its average volume of 3,309,689. The business's 50 day simple moving average is $29.42 and its two-hundred day simple moving average is $29.67. The stock has a market cap of $15.96 billion, a PE ratio of 21.33, a P/E/G ratio of 3.27 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. Hormel Foods Corporation has a 1-year low of $27.59 and a 1-year high of $33.80.

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

Hormel Foods Company 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.