Russell Investments Group Ltd. Buys 15,996 Shares of Hormel Foods Corporation $HRL

Key Points

• Russell Investments Group Ltd. increased its holdings in Hormel Foods Corporation by 9.6% during the first quarter, bringing their total to 182,926 shares valued at approximately $5.65 million.
• Hormel Foods reported a quarterly earnings per share of $0.35, meeting analysts' expectations, with a net margin of 6.27% and revenue of $2.90 billion.
• Analysts have given Hormel Foods a consensus rating of "Moderate Buy", with target prices ranging from $30.00 to $35.00, indicating potential for growth in the stock.

Russell Investments Group Ltd. increased its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 182,926 shares of the company's stock after purchasing an additional 15,996 shares during the period. Russell Investments Group Ltd.'s holdings in Hormel Foods were worth $5,654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. MJT & Associates Financial Advisory Group Inc. bought a new stake in Hormel Foods during the 1st quarter worth $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Hormel Foods during the 1st quarter worth approximately $38,000. Riverview Trust Co raised its stake in Hormel Foods by 183.8% during the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock worth $49,000 after buying an additional 1,018 shares during the period. YANKCOM Partnership raised its stake in Hormel Foods by 18.5% during the 1st quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock worth $95,000 after buying an additional 480 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Hormel Foods by 34.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 3,187 shares of the company's stock worth $99,000 after buying an additional 816 shares during the period. Institutional investors own 40.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HRL shares. JPMorgan Chase & Co. raised Hormel Foods from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $29.00 to $34.00 in a report on Wednesday, August 20th. Stephens reissued an "equal weight" rating and set a $31.00 price objective on shares of Hormel Foods in a report on Thursday, May 22nd. BNP Paribas raised Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. The Goldman Sachs Group began coverage on Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 target price on the stock. Finally, BNP Paribas Exane upgraded 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. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $33.00.

Hormel Foods Price Performance

HRL traded up $0.26 during trading on Wednesday, reaching $29.02. The stock had a trading volume of 4,646,679 shares, compared to its average volume of 3,309,689. The stock has a market cap of $15.96 billion, a PE ratio of 21.33, a PEG ratio of 3.27 and a beta of 0.31. 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 Corporation has a one year low of $27.59 and a one year high of $33.80. The business has a 50-day moving average of $29.42 and a 200-day moving average of $29.67.

Hormel Foods (NYSE:HRL - Get Free Report) last released its earnings results on Thursday, May 29th. The company reported $0.35 EPS for the quarter, meeting analysts' consensus estimates of $0.35. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%.The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.92 billion. During the same quarter in the prior year, the firm earned $0.38 earnings per share. The firm's revenue was up .3% on a year-over-year basis. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. As a group, equities research analysts anticipate 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.