Legal & General Group Plc Acquires New Position in Hormel Foods Corporation $HRL

Key Points

• Legal & General Group Plc acquired 493,619 Hormel Foods shares worth approximately $12.25 million, giving it a 0.09% stake. Institutional investors and hedge funds collectively own 40.99% of HRL.
• Analysts maintain a largely neutral outlook, with two Buy ratings, six Holds and one Sell; the average price target is $26.14. Weiss Ratings recently downgraded the stock to Sell.
• Hormel exceeded quarterly EPS expectations, reporting $0.37 versus the $0.35 consensus, although revenue fell 2.4% year over year to $2.96 billion. The company issued fiscal 2026 EPS guidance of $1.45–$1.51.

Legal & General Group Plc purchased a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 493,619 shares of the company's stock, valued at approximately $12,250,000. Legal & General Group Plc owned about 0.09% of Hormel Foods as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SlateStone Wealth LLC increased its holdings in shares of Hormel Foods by 2.3% during the 2nd quarter. SlateStone Wealth LLC now owns 17,890 shares of the company's stock worth $444,000 after buying an additional 400 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised 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. lifted its stake in Hormel Foods by 5.0% during the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company's stock worth $213,000 after acquiring an additional 431 shares in the last quarter. Advisory Alpha LLC boosted its holdings in Hormel Foods by 2.9% during the 4th quarter. Advisory Alpha LLC now owns 15,477 shares of the company's stock valued at $367,000 after acquiring an additional 440 shares during the period. Finally, Vermillion Wealth Management Inc. boosted its holdings in Hormel Foods by 1.7% during the 4th quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company's stock valued at $615,000 after acquiring an additional 441 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Transactions at Hormel Foods

In other news, Director Gary C. Bhojwani sold 20,200 shares of the company's stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares of the company's stock, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.58% of the stock is owned by company insiders.

Hormel Foods Trading Up 1.3%

Shares of NYSE:HRL opened at $21.84 on Tuesday. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $26.60. The company's 50 day moving average is $24.72 and its two-hundred day moving average is $23.35. The company has a market cap of $12.02 billion, a PE ratio of 34.67, a P/E/G ratio of 2.49 and a beta of 0.34. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $2.96 billion during the quarter, compared to analysts' expectations of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The company's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Equities analysts predict that Hormel Foods Corporation will post 1.49 earnings per share for the current fiscal year.

Hormel Foods Company Profile

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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