Raymond James Financial Inc. Increases Holdings in Hormel Foods Corporation $HRL

Key Points

• Raymond James Financial Inc. increased its stake in Hormel Foods Corporation by 13.6%, acquiring more than 34,000 additional shares, now owning a total of 285,649 shares valued at approximately $8.8 million.
• Hormel Foods reported earnings per share (EPS) of $0.35 for the last quarter, missing analysts' estimates, while revenue increased to $3.03 billion, surpassing expectations.
• Wall Street analysts have mixed ratings for Hormel Foods, with a consensus rating of "Moderate Buy" and an average price target of $30.88, reflecting recent adjustments from major firms like JP Morgan and Goldman Sachs.

Raymond James Financial Inc. raised its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 13.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 285,649 shares of the company's stock after purchasing an additional 34,102 shares during the quarter. Raymond James Financial Inc. owned 0.05% of Hormel Foods worth $8,838,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in HRL. The Manufacturers Life Insurance Company grew its stake in shares of Hormel Foods by 1.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 198,193 shares of the company's stock worth $6,217,000 after acquiring an additional 2,468 shares during the period. Northern Trust Corp grew its stake in shares of Hormel Foods by 11.5% during the 4th quarter. Northern Trust Corp now owns 2,966,225 shares of the company's stock worth $93,050,000 after acquiring an additional 306,567 shares during the period. Comerica Bank grew its stake in shares of Hormel Foods by 4.3% during the 4th quarter. Comerica Bank now owns 54,129 shares of the company's stock worth $1,698,000 after acquiring an additional 2,226 shares during the period. Ancora Advisors LLC grew its stake in shares of Hormel Foods by 5.9% during the 4th quarter. Ancora Advisors LLC now owns 74,307 shares of the company's stock worth $2,331,000 after acquiring an additional 4,172 shares during the period. Finally, Aptus Capital Advisors LLC grew its stake in shares of Hormel Foods by 17.6% during the 4th quarter. Aptus Capital Advisors LLC now owns 8,750 shares of the company's stock worth $274,000 after acquiring an additional 1,308 shares during the period. Institutional investors own 40.99% of the company's stock.

Analyst Ratings Changes

HRL has been the subject of several research reports. Stephens reiterated an "equal weight" rating and set a $31.00 price target on shares of Hormel Foods in a research note on Thursday, May 22nd. Zacks Research downgraded Hormel Foods from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Bank of America cut their target price on Hormel Foods from $35.00 to $28.00 and set a "neutral" rating for the company in a research note on Friday, August 29th. Barclays restated an "overweight" rating and issued a $34.00 target price (down previously from $36.00) on shares of Hormel Foods in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. cut their target price on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a research note on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $30.88.

Hormel Foods Price Performance

Shares of NYSE:HRL traded down $0.11 on Thursday, hitting $25.25. The company's stock had a trading volume of 3,889,203 shares, compared to its average volume of 3,305,201. The company has a 50-day simple moving average of $28.92 and a 200 day simple moving average of $29.55. Hormel Foods Corporation has a 1 year low of $23.71 and a 1 year high of $33.80. The company has a market capitalization of $13.88 billion, a PE ratio of 18.43, a PEG ratio of 5.67 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 (NYSE:HRL - Get Free Report) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The business had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $2.98 billion. During the same period in the previous year, the business earned $0.37 EPS. The business's revenue was up 4.6% on a year-over-year basis. 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 forecast 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.