Hormel Foods Corporation $HRL Shares Acquired by OMERS ADMINISTRATION Corp

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 position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 788.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,906 shares of the company's stock after buying an additional 99,313 shares during the period. OMERS ADMINISTRATION Corp's holdings in Hormel Foods were worth $3,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HRL. Pacer Advisors Inc. boosted its holdings in shares of Hormel Foods by 9,725.4% during the 1st quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock worth $72,270,000 after buying an additional 2,312,024 shares during the period. Two Sigma Advisers LP raised its holdings in shares of Hormel Foods by 496.3% in the fourth quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company's stock valued at $68,562,000 after purchasing an additional 1,819,100 shares during the last quarter. Two Sigma Investments LP increased its holdings in Hormel Foods by 466.5% during the fourth quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company's stock worth $64,408,000 after buying an additional 1,690,746 shares during the last quarter. Nuveen LLC bought a new position in Hormel Foods during the first quarter worth $23,427,000. Finally, Man Group plc boosted its position in Hormel Foods by 186.0% during the fourth quarter. Man Group plc now owns 1,041,356 shares of the company's stock worth $32,667,000 after purchasing an additional 677,194 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HRL. Zacks Research downgraded Hormel Foods from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. JPMorgan Chase & Co. decreased their price target on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Barclays reiterated an "overweight" rating and set a $34.00 price objective (down previously from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. The Goldman Sachs Group cut their target price on Hormel Foods from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Finally, Stephens reiterated an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research report on Thursday, May 22nd. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $30.88.

Hormel Foods Trading Up 0.7%

Shares of NYSE:HRL traded up $0.17 during trading on Wednesday, hitting $25.20. The company had a trading volume of 1,580,387 shares, compared to its average volume of 3,276,112. Hormel Foods Corporation has a one year low of $23.71 and a one year high of $33.80. 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 stock has a market cap of $13.86 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 5.67 and a beta of 0.31. The company has a fifty day simple moving average of $29.01 and a two-hundred day simple moving average of $29.58.

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

Hormel Foods 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.