Neo Ivy Capital Management Acquires Shares of 78,042 Hormel Foods Corporation $HRL

Key Points

• Neo Ivy Capital Management initiated a new position in Hormel Foods (NYSE:HRL), buying 78,042 shares (~$1.93 million) during the third quarter.
• Other large institutions including Vanguard, State Street, Geode, ProShare and Dimensional also added shares, and institutional ownership stands at 40.99%.
• Hormel reported $0.34 EPS for the quarter (beating estimates), set FY2026 guidance of 1.43–1.51 EPS, trades around $24.44, and carries a consensus analyst rating of "Hold" with a $27.71 price target.

Neo Ivy Capital Management bought a new position in Hormel Foods Corporation (NYSE:HRL - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 78,042 shares of the company's stock, valued at approximately $1,931,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Hormel Foods by 2.0% in the third quarter. Vanguard Group Inc. now owns 37,595,843 shares of the company's stock worth $930,121,000 after purchasing an additional 729,942 shares during the last quarter. State Street Corp lifted its holdings in Hormel Foods by 1.3% during the 2nd quarter. State Street Corp now owns 28,068,704 shares of the company's stock valued at $849,078,000 after buying an additional 354,340 shares in the last quarter. Geode Capital Management LLC boosted its position in Hormel Foods by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,886,107 shares of the company's stock valued at $237,589,000 after buying an additional 166,152 shares during the period. ProShare Advisors LLC boosted its position in Hormel Foods by 11.2% in the 3rd quarter. ProShare Advisors LLC now owns 5,769,398 shares of the company's stock valued at $142,735,000 after buying an additional 581,006 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Hormel Foods by 12.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 5,156,596 shares of the company's stock worth $127,570,000 after acquiring an additional 590,084 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Trading Up 1.0%

NYSE:HRL opened at $24.44 on Friday. Hormel Foods Corporation has a one year low of $21.03 and a one year high of $32.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.37 and a current ratio of 2.66. The firm has a market cap of $13.45 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.91 and a beta of 0.32. The firm has a 50-day simple moving average of $24.27 and a 200-day simple moving average of $24.20.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $3.03 billion during the quarter, compared to analysts' expectations of $3.07 billion. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The company's revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Equities analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HRL has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an "overweight" rating in a research report on Friday, December 5th. Stephens boosted their price target on Hormel Foods from $25.00 to $27.00 and gave the company an "equal weight" rating in a report on Friday, February 27th. Bank of America increased their price objective on Hormel Foods from $25.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, December 5th. Wall Street Zen raised Hormel Foods from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Hormel Foods in a report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hormel Foods has an average rating of "Hold" and a consensus price target of $27.71.

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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