OMERS ADMINISTRATION Corp Has $3.46 Million Holdings in Hormel Foods Corporation $HRL

Key Points

• OMERS ADMINISTRATION Corp significantly increased its stake in Hormel Foods by 788.6% in the first quarter, acquiring a total of 111,906 shares valued at approximately $3.46 million.
• Wall Street analysts have a generally positive outlook on the stock, with analysts upgrading Hormel Foods and giving it a consensus rating of "Moderate Buy" and an average target price of $33.00.
• Hormel Foods reported a missed EPS estimate of $0.35 for the quarter, while revenue increased by 4.6% year-over-year to $3.03 billion.

OMERS ADMINISTRATION Corp increased its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 788.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 111,906 shares of the company's stock after purchasing an additional 99,313 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Hormel Foods were worth $3,462,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the stock. J.W. Cole Advisors Inc. acquired a new stake in Hormel Foods in the first quarter valued at approximately $1,283,000. Principal Financial Group Inc. lifted its stake in Hormel Foods by 12.0% in the first quarter. Principal Financial Group Inc. now owns 452,925 shares of the company's stock valued at $14,014,000 after acquiring an additional 48,657 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Hormel Foods by 180.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company's stock valued at $2,737,000 after purchasing an additional 57,280 shares during the period. Woodline Partners LP bought a new position in shares of Hormel Foods in the fourth quarter valued at approximately $548,000. Finally, Victory Capital Management Inc. raised its position in shares of Hormel Foods by 22.2% in the first quarter. Victory Capital Management Inc. now owns 1,150,394 shares of the company's stock valued at $35,593,000 after purchasing an additional 208,883 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Trading Up 0.9%

Shares of HRL stock traded up $0.23 on Friday, reaching $25.45. The company had a trading volume of 7,782,946 shares, compared to its average volume of 4,233,831. The company has a current ratio of 2.47, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. The stock has a market cap of $13.99 billion, a PE ratio of 18.57, a PEG ratio of 5.67 and a beta of 0.31. The company has a 50-day moving average of $29.23 and a 200-day moving average of $29.64. Hormel Foods Corporation has a 12 month low of $23.71 and a 12 month high of $33.80.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the company earned $0.37 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. On average, equities analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HRL. BNP Paribas Exane raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 target price on the stock in a research report on Tuesday, May 27th. The Goldman Sachs Group reduced their target price on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday. JPMorgan Chase & Co. reduced their target price on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday. Barclays reiterated an "overweight" rating and set a $34.00 price target (down previously from $36.00) on shares of Hormel Foods in a research report on Friday. Finally, Bank of America reduced their price target on shares of Hormel Foods from $35.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday. Four equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.88.

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.