Hormel Foods Corporation $HRL Shares Sold by Amundi

Key Points

• Amundi cut its Hormel Foods stake by 51.3% in the second quarter, selling 771,322 shares and retaining 732,866 shares valued at approximately $18.2 million. Institutional investors and hedge funds collectively own 40.99% of HRL.
• Analysts maintain a generally cautious outlook, with an average rating of “Hold” and a consensus price target of $26.14. Ratings include two Buys, six Holds and one Sell.
• Hormel exceeded quarterly EPS expectations, reporting $0.37 versus the $0.35 consensus, but revenue fell 2.4% year over year to $2.96 billion. HRL opened at $20.55, near its one-year low of $19.70.

Amundi trimmed its position in Hormel Foods Corporation (NYSE:HRL - Free Report) by 51.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 732,866 shares of the company's stock after selling 771,322 shares during the period. Amundi owned approximately 0.13% of Hormel Foods worth $18,190,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HRL. SlateStone Wealth LLC lifted its position in Hormel Foods by 2.3% in the second quarter. SlateStone Wealth LLC now owns 17,890 shares of the company's stock valued at $444,000 after purchasing an additional 400 shares during the period. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Hormel Foods by 1.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company's stock valued at $968,000 after buying an additional 427 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. boosted its stake in shares of Hormel Foods by 5.0% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company's stock valued at $213,000 after buying an additional 431 shares in the last quarter. Advisory Alpha LLC boosted its stake in shares of Hormel Foods by 2.9% in the fourth quarter. Advisory Alpha LLC now owns 15,477 shares of the company's stock valued at $367,000 after buying an additional 440 shares in the last quarter. Finally, Vermillion Wealth Management Inc. grew its holdings in Hormel Foods by 1.7% during the fourth quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company's stock worth $615,000 after acquiring an additional 441 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HRL shares. Stephens set a $23.00 price objective on Hormel Foods in a research report on Friday, August 28th. Weiss Ratings cut shares of Hormel Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, August 28th. JPMorgan Chase & Co. increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, August 14th. Bank of America increased their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the company a "neutral" rating in a report on Tuesday, June 30th. Finally, The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a report on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Hormel Foods presently has an average rating of "Hold" and a consensus target price of $26.14.

Insider Activity at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total value of $495,102.00. Following the completion of the transaction, the director owned 32,002 shares in the company, valued at $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.58% of the company's stock.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $20.55 on Friday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $26.60. The company has a market capitalization of $11.31 billion, a price-to-earnings ratio of 32.61, a PEG ratio of 2.45 and a beta of 0.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92. The business has a 50-day moving average of $23.99 and a 200-day moving average of $23.19.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.02. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the firm posted $0.35 EPS. The firm'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. On average, equities analysts anticipate that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

About Hormel Foods

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.

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