Inceptionr LLC Purchases Shares of 55,404 Hormel Foods Corporation $HRL

Key Points

• Inceptionr LLC opened a new position in Hormel Foods (NYSE:HRL), buying 55,404 shares in Q3 valued at about $1.37 million, while other institutions including Victory Capital, Barclays, JPMorgan and Vanguard materially increased stakes—institutional ownership is roughly 40.99%.
• Analyst coverage is mixed with a MarketBeat consensus of "Hold" and an average price target of $27.71, although several firms have recently raised price targets or ratings (e.g., Barclays $30 overweight; JPMorgan $28 overweight).

Inceptionr LLC purchased a new position in Hormel Foods Corporation (NYSE:HRL - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 55,404 shares of the company's stock, valued at approximately $1,371,000.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new position in Hormel Foods in the second quarter valued at $101,201,000. Victory Capital Management Inc. increased its holdings in Hormel Foods by 297.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company's stock worth $103,815,000 after purchasing an additional 3,142,670 shares during the period. Barclays PLC raised its position in Hormel Foods by 97.1% in the 3rd quarter. Barclays PLC now owns 2,010,924 shares of the company's stock valued at $49,750,000 after purchasing an additional 990,861 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Hormel Foods by 58.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,237,005 shares of the company's stock valued at $55,345,000 after buying an additional 826,564 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Hormel Foods by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company's stock valued at $1,115,194,000 after buying an additional 805,449 shares during the period. Hedge funds and other institutional investors own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

HRL has been the topic of a number of recent research reports. Barclays set a $30.00 target price on shares of Hormel Foods and gave the stock an "overweight" rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded shares of Hormel Foods from a "sell" rating to a "hold" rating in a report on Saturday, January 17th. JPMorgan Chase & Co. increased their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the company an "overweight" rating in a research report on Friday, December 5th. Bank of America raised their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a report on Friday, December 5th. Finally, Stephens lifted their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the stock an "equal weight" rating in a research report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $27.71.

Hormel Foods Stock Performance

Shares of HRL opened at $24.44 on Monday. The company has a market capitalization of $13.45 billion, a price-to-earnings ratio of 27.46, a price-to-earnings-growth ratio of 2.94 and a beta of 0.32. Hormel Foods Corporation has a 52-week low of $21.03 and a 52-week high of $32.07. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. The stock has a 50 day moving average price of $24.27 and a 200 day moving average price of $24.14.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.02. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter in the previous year, the firm earned $0.35 EPS. The company's revenue was up 1.3% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Research analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company's portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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