Hormel Foods Corporation $HRL Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its stake in Hormel Foods by 10.2%, now holding 402,826 shares worth approximately $12.46 million.
• Analysts have set a consensus target price of $30.88 for Hormel Foods, with ratings ranging from "Buy" to "Sell" among investment analysts.
• Hormel Foods reported earnings of $0.35 per share for the last quarter, missing estimates by $0.06, while its revenue was $3.03 billion, exceeding expectations.

Royal Bank of Canada decreased its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 10.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 402,826 shares of the company's stock after selling 45,723 shares during the period. Royal Bank of Canada owned approximately 0.07% of Hormel Foods worth $12,463,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $38,000. Quarry LP purchased a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $41,000. Riverview Trust Co grew its stake in shares of Hormel Foods by 183.8% in the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the period. Finally, YANKCOM Partnership grew its stake in shares of Hormel Foods by 18.5% in the 1st quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock valued at $95,000 after buying an additional 480 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HRL. Barclays reissued an "overweight" rating and issued a $34.00 price target (down previously from $36.00) on shares of Hormel Foods in a research note on Friday, August 29th. BNP Paribas raised shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a research report on Tuesday, May 27th. Zacks Research cut shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. BNP Paribas Exane raised shares of Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective for the company in a research report on Tuesday, May 27th. Finally, Stephens reaffirmed an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Hormel Foods has a consensus rating of "Hold" and an average target price of $30.88.

Hormel Foods Stock Down 1.4%

HRL stock traded down $0.34 during midday trading on Monday, hitting $24.74. The company's stock had a trading volume of 4,062,364 shares, compared to its average volume of 3,309,176. Hormel Foods Corporation has a 52-week low of $23.71 and a 52-week high of $33.80. The firm has a 50-day simple moving average of $28.19 and a 200-day simple moving average of $29.39. The firm has a market capitalization of $13.61 billion, a P/E ratio of 18.06, a PEG ratio of 5.58 and a beta of 0.31. The company has a quick ratio of 1.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The firm had revenue of $3.03 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the business posted $0.37 earnings per share. Hormel Foods's revenue for the quarter was up 4.6% compared to the same quarter last year. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. As a group, equities analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

About Hormel Foods

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.