Hormel Foods Corporation $HRL Shares Bought by Swedbank AB

Key Points

• Swedbank AB increased its stake in Hormel Foods Corporation by 16.0%, owning 365,084 shares worth approximately $11.3 million at the end of the first quarter.
• Analysts rate Hormel Foods with a consensus rating of "Hold" and an average target price of $30.88, reflecting a mix of ratings from various research firms.
• Hormel Foods reported earnings of $0.35 per share, missing estimates by $0.06, despite showing a 4.6% year-over-year revenue increase.

Swedbank AB increased its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 365,084 shares of the company's stock after buying an additional 50,359 shares during the quarter. Swedbank AB owned about 0.07% of Hormel Foods worth $11,296,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Pacer Advisors Inc. grew its stake in shares of Hormel Foods by 9,725.4% in the first quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock worth $72,270,000 after acquiring an additional 2,312,024 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Hormel Foods by 496.3% during the 4th quarter. Two Sigma Advisers LP now owns 2,185,600 shares of the company's stock worth $68,562,000 after purchasing an additional 1,819,100 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Hormel Foods by 466.5% during the 4th quarter. Two Sigma Investments LP now owns 2,053,160 shares of the company's stock worth $64,408,000 after purchasing an additional 1,690,746 shares during the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Hormel Foods by 485.7% during the 1st quarter. Alyeska Investment Group L.P. now owns 1,963,632 shares of the company's stock worth $60,755,000 after purchasing an additional 1,628,382 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Hormel Foods during the 1st quarter worth $23,427,000. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Hormel Foods Stock Performance

Shares of NYSE:HRL traded down $0.11 on Friday, reaching $24.85. The company's stock had a trading volume of 8,504,950 shares, compared to its average volume of 4,494,248. Hormel Foods Corporation has a 52-week low of $23.71 and a 52-week high of $33.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.12. The stock's 50-day moving average is $27.58 and its two-hundred day moving average is $29.25. The stock has a market capitalization of $13.67 billion, a P/E ratio of 18.14, a PEG ratio of 5.56 and a beta of 0.31.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.35 earnings per share (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 analyst estimates of $2.98 billion. During the same quarter last year, the firm earned $0.37 earnings per share. The company's 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. As a group, sell-side analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HRL. The Goldman Sachs Group reduced their price target on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Friday, August 29th. Barclays reissued an "overweight" rating and issued a $34.00 price target (down from $36.00) on shares of Hormel Foods 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 target for the company in a research report on Tuesday, May 27th. Stephens reissued an "equal weight" rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, Zacks Research cut shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a 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 stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $30.88.

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.