Korea Investment CORP Has $7.26 Million Holdings in Hormel Foods Corporation $HRL

Key Points

• Korea Investment CORP significantly increased its stake in Hormel Foods by 229.3%, acquiring an additional 163,400 shares worth approximately $7.26 million.
• Hormel Foods has received mixed analyst ratings, with a consensus of "Moderate Buy" and an average target price of $33.00.
• The company's recent quarterly earnings met expectations with $0.35 earnings per share, while revenue was reported at $2.90 billion, slightly below forecasts.

Korea Investment CORP boosted its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 229.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 234,646 shares of the company's stock after buying an additional 163,400 shares during the period. Korea Investment CORP's holdings in Hormel Foods were worth $7,260,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its position in shares of Hormel Foods by 9,725.4% in the first quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock valued at $72,270,000 after purchasing an additional 2,312,024 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Hormel Foods by 496.3% in the 4th 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 period. Two Sigma Investments LP grew its holdings in Hormel Foods by 466.5% in the 4th quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company's stock valued at $64,408,000 after buying an additional 1,690,746 shares in the last quarter. Nuveen LLC bought a new position in Hormel Foods during the 1st quarter worth $23,427,000. Finally, Man Group plc lifted its holdings in shares of 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 buying an additional 677,194 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Stock Down 13.5%

Shares of HRL traded down $3.93 during trading hours on Thursday, hitting $25.09. The stock had a trading volume of 8,634,948 shares, compared to its average volume of 3,178,052. Hormel Foods Corporation has a 1-year low of $23.71 and a 1-year high of $33.80. The firm has a market capitalization of $13.80 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 3.27 and a beta of 0.31. The firm has a 50 day simple moving average of $29.42 and a 200-day simple moving average of $29.67. 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 (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Sell-side analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.