Hormel Foods Corporation $HRL Position Cut by State Street Corp

Key Points

• State Street reduced its Hormel Foods position by 5.9% in the second quarter, selling 1.61 million shares and retaining 25.87 million shares valued at approximately $642 million. Institutional investors collectively own 40.99% of HRL.
• Hormel reported quarterly EPS of $0.37, ahead of the $0.35 consensus, but revenue fell 2.4% year over year to $2.96 billion, below expectations. The company maintained fiscal 2026 EPS guidance of $1.45-$1.51.
• Analyst sentiment remains cautious, with HRL carrying a consensus “Hold” rating and a $26.14 target price; shares recently opened at $19.90, near their 12-month low of $19.70.

State Street Corp decreased its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 5.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 25,867,365 shares of the company's stock after selling 1,610,768 shares during the quarter. State Street Corp owned about 4.70% of Hormel Foods worth $642,028,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new position in Hormel Foods during the 2nd quarter valued at about $489,092,000. Geode Capital Management LLC raised its holdings in shares of Hormel Foods by 0.8% during 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 during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Hormel Foods by 2.0% during 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 during the last quarter. Norges Bank acquired a new position in shares of Hormel Foods during the fourth quarter worth approximately $85,840,000. Finally, Vest Financial LLC grew its holdings in Hormel Foods by 7.8% in the 2nd quarter. Vest Financial LLC now owns 2,285,103 shares of the company's stock worth $56,716,000 after buying an additional 165,403 shares in the last quarter. Institutional investors own 40.99% of the company's stock.

Insider Activity at Hormel Foods

In other news, Director Gary C. Bhojwani sold 20,200 shares of the company's stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the sale, the director directly owned 32,002 shares of the company's stock, valued at $784,369.02. This represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $19.90 on Thursday. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $26.60. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a 50-day moving average of $23.35 and a two-hundred day moving average of $22.93. The company has a market capitalization of $10.95 billion, a price-to-earnings ratio of 31.58, a PEG ratio of 2.39 and a beta of 0.33.

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

Analyst Ratings Changes

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

Hormel Foods Profile

Hormel Foods Corporation NYSE: HRL is a global food company that develops, produces and markets branded meat, prepared foods and other grocery products. Its portfolio includes SPAM luncheon meat, Hormel pepperoni, Hormel Compleats meals, Jennie-O turkey products, Applegate natural and organic foods, Columbus deli meats and Planters snack products.

The company sells products through retail grocery channels, foodservice operations and international markets. Its offerings are used by consumers, restaurants, schools, hospitals and other institutional customers, with products distributed across the United States and in selected markets worldwide.

Founded in 1891 by George A.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.