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 cut its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 10.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 402,826 shares of the company's stock after selling 45,723 shares during the period. Royal Bank of Canada owned about 0.07% of Hormel Foods worth $12,463,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in HRL. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Hormel Foods in the 1st quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Hormel Foods in the first quarter valued at $38,000. Quarry LP acquired a new position in Hormel Foods in the first quarter valued at $41,000. Riverview Trust Co grew its holdings in shares of Hormel Foods by 183.8% during the first quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after purchasing an additional 1,018 shares during the last quarter. Finally, YANKCOM Partnership increased its position in shares of Hormel Foods by 18.5% during the first quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock worth $95,000 after purchasing an additional 480 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on HRL. Stephens reissued an "equal weight" rating and issued a $31.00 target price on shares of Hormel Foods in a report on Thursday, May 22nd. Barclays reiterated an "overweight" rating and issued a $34.00 price objective (down previously from $36.00) on shares of Hormel Foods in a research note on Friday, August 29th. Zacks Research downgraded Hormel Foods from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. The Goldman Sachs Group cut their target price on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $30.88.

Hormel Foods Stock Performance

NYSE:HRL traded down $0.13 during midday trading on Wednesday, reaching $24.89. The stock had a trading volume of 4,216,540 shares, compared to its average volume of 4,450,323. The company has a quick ratio of 1.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market cap of $13.69 billion, a P/E ratio of 18.17, a P/E/G ratio of 5.57 and a beta of 0.31. The firm has a fifty day simple moving average of $27.83 and a two-hundred day simple moving average of $29.31. Hormel Foods Corporation has a 12-month low of $23.71 and a 12-month high of $33.80.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The firm had revenue of $3.03 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The firm's quarterly revenue 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. On average, equities analysts expect that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods 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.