T. Rowe Price Investment Management Inc. Purchases New Holdings in Hormel Foods Corporation $HRL

Key Points

• T. Rowe Price Investment Management Inc. purchased 11,487 shares of Hormel Foods Corporation, representing a new stake valued at approximately $356,000.
• Institutional investors and hedge funds collectively own 40.99% of Hormel Foods' stock, with various funds increasing their positions in the first quarter of the year.
• Hormel Foods reported earnings of $0.35 EPS for the last quarter, meeting analysts' estimates, and set FY 2025 guidance at 1.580-1.680 EPS.

T. Rowe Price Investment Management Inc. acquired a new position in Hormel Foods Corporation (NYSE:HRL - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 11,487 shares of the company's stock, valued at approximately $356,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Credit Agricole S A raised its holdings in Hormel Foods by 3.3% during the first quarter. Credit Agricole S A now owns 119,203 shares of the company's stock valued at $3,688,000 after acquiring an additional 3,771 shares during the period. Groupama Asset Managment raised its stake in Hormel Foods by 11.9% during the 1st quarter. Groupama Asset Managment now owns 11,174 shares of the company's stock valued at $339,000 after purchasing an additional 1,189 shares during the period. Financial Advisors Network Inc. bought a new stake in Hormel Foods during the 1st quarter valued at approximately $317,000. Quantbot Technologies LP raised its stake in Hormel Foods by 16.2% during the 1st quarter. Quantbot Technologies LP now owns 63,627 shares of the company's stock valued at $1,969,000 after purchasing an additional 8,867 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Hormel Foods by 8.4% during the first quarter. Wellington Management Group LLP now owns 22,781 shares of the company's stock valued at $705,000 after buying an additional 1,765 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

Hormel Foods Trading Up 0.9%

NYSE HRL traded up $0.23 during trading hours on Friday, hitting $25.45. 7,782,946 shares of the company were exchanged, compared to its average volume of 4,233,831. The stock has a 50-day moving average price of $29.23 and a 200 day moving average price of $29.64. 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 Corporation has a 52 week low of $23.71 and a 52 week high of $33.80. The stock has a market cap of $13.99 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 5.67 and a beta of 0.31.

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

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on HRL shares. BNP Paribas upgraded shares of Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. Barclays reissued an "overweight" rating and set a $34.00 price target (down from $36.00) on shares of Hormel Foods in a research note on Friday. JPMorgan Chase & Co. reduced their price objective on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday. Bank of America reduced their price objective on Hormel Foods from $35.00 to $28.00 and set a "neutral" rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group reduced their price objective on Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $30.88.

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.