Nuveen LLC Makes New Investment in Hormel Foods Corporation $HRL

Key Points

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Nuveen LLC purchased a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 757,170 shares of the company's stock, valued at approximately $23,427,000. Nuveen LLC owned 0.14% of Hormel Foods at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of HRL. Pacer Advisors Inc. boosted its holdings in Hormel Foods by 9,725.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock valued at $72,270,000 after purchasing an additional 2,312,024 shares during the period. Two Sigma Advisers LP boosted its holdings in Hormel Foods by 496.3% in the 4th quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company's stock valued at $68,562,000 after purchasing an additional 1,819,100 shares during the period. Two Sigma Investments LP boosted its holdings in Hormel Foods by 466.5% in the 4th quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company's stock valued at $64,408,000 after purchasing an additional 1,690,746 shares during the period. Stifel Financial Corp boosted its holdings in Hormel Foods by 33.9% in the 4th quarter. Stifel Financial Corp now owns 4,374,456 shares of the company's stock valued at $137,227,000 after purchasing an additional 1,107,270 shares during the period. Finally, Man Group plc raised its position in shares of Hormel Foods by 186.0% during the 4th quarter. Man Group plc now owns 1,041,356 shares of the company's stock valued at $32,667,000 after buying an additional 677,194 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HRL. BNP Paribas Exane upgraded shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective on the stock in a research report on Tuesday, May 27th. Stephens restated an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Thursday, May 22nd. The Goldman Sachs Group began coverage on shares of Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. upgraded shares of Hormel Foods from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $29.00 to $34.00 in a research report on Wednesday. Finally, BNP Paribas upgraded shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $33.00.

Hormel Foods Trading Up 1.1%

NYSE:HRL traded up $0.3150 during trading hours on Friday, reaching $29.2250. The company's stock had a trading volume of 2,258,494 shares, compared to its average volume of 3,290,349. The firm has a market capitalization of $16.07 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 3.28 and a beta of 0.31. The firm has a 50-day simple moving average of $29.50 and a 200-day simple moving average of $29.68. Hormel Foods Corporation has a 1 year low of $27.59 and a 1 year high of $33.80. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.17 and a current ratio of 2.47.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its earnings results on Thursday, May 29th. The company reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. The company had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.92 billion. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The firm's revenue was up .3% compared to the same quarter last year. During the same quarter last year, the company earned $0.38 EPS. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. Research analysts expect 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.