UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,408,578 Shares of Hormel Foods Corporation $HRL

Key Points

• UBS Asset Management reduced its Hormel Foods stake by 70.3% in the second quarter, selling 1.41 million shares and retaining 594,344 shares valued at approximately $14.75 million.
• Analysts maintain a generally cautious view, with Hormel carrying an average “Hold” rating and a consensus price target of $26.14; targets recently ranged from $23 to $27.
• Hormel reported quarterly EPS of $0.37, topping estimates of $0.35, but revenue fell 2.4% year over year to $2.96 billion. The stock opened at $21.53, below its 50-day and 200-day moving averages.

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC cut its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 70.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 594,344 shares of the company's stock after selling 1,408,578 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.11% of Hormel Foods worth $14,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company purchased a new stake in shares of Hormel Foods during the 2nd quarter valued at about $5,554,000. Masters Capital Management LLC purchased a new position in shares of Hormel Foods in the first quarter worth approximately $19,252,000. Fidelity National Financial Inc. bought a new stake in Hormel Foods during the fourth quarter valued at approximately $15,642,000. BNP Paribas Financial Markets increased its holdings in Hormel Foods by 21.2% during the fourth quarter. BNP Paribas Financial Markets now owns 465,204 shares of the company's stock valued at $11,025,000 after buying an additional 81,420 shares during the last quarter. Finally, AMG National Trust Bank purchased a new stake in Hormel Foods during the second quarter valued at approximately $8,338,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on HRL shares. Bank of America lifted their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 30th. Weiss Ratings downgraded Hormel Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 28th. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a report on Thursday, May 21st. BNP Paribas Exane reduced their price target on Hormel Foods from $27.00 to $26.00 and set a "neutral" rating for the company in a research report on Friday, August 28th. Finally, Stephens set a $23.00 price objective on Hormel Foods in a research report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $26.14.

Insider Activity at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total transaction of $495,102.00. Following the completion of the transaction, the director directly owned 32,002 shares of the company's stock, valued at approximately $784,369.02. This represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.58% of the company's stock.

Hormel Foods Stock Down 0.7%

Shares of HRL opened at $21.53 on Friday. The business's 50 day moving average is $24.41 and its 200 day moving average is $23.30. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a 12-month low of $19.70 and a 12-month high of $26.60. The company has a market capitalization of $11.85 billion, a PE ratio of 34.18, a price-to-earnings-growth ratio of 2.53 and a beta of 0.33.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to analysts' expectations of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The company's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Research analysts expect that Hormel Foods Corporation will post 1.49 earnings per share for the current fiscal year.

About Hormel Foods

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company's portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.

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