Van ECK Associates Corp Purchases 91,413 Shares of Hormel Foods Corporation $HRL

Key Points

• Van ECK Associates significantly increased its Hormel Foods stake by purchasing 91,413 additional shares, bringing its total holdings to 94,841 shares valued at approximately $2.35 million. Institutional investors collectively own 40.99% of HRL.
• Hormel’s latest quarterly results were mixed: adjusted earnings of $0.37 per share beat estimates, but revenue of $2.96 billion fell short of expectations and declined 2.4% year over year. The company maintained fiscal 2026 EPS guidance of $1.45–$1.51.
• Analysts remain cautious, with a consensus “Hold” rating and an average price target of $26.14; HRL recently opened at $21.71. Director Gary C. Bhojwani also sold 20,200 shares, reducing his position by 38.7%.

Van ECK Associates Corp grew its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 2,666.7% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 94,841 shares of the company's stock after acquiring an additional 91,413 shares during the period. Van ECK Associates Corp's holdings in Hormel Foods were worth $2,354,000 as of its most recent SEC filing.

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

Insider Activity

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the company's stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the transaction, the director directly owned 32,002 shares in the company, valued at approximately $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.58% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HRL has been the subject of a number of research analyst reports. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a report on Thursday, May 21st. BNP Paribas Exane cut their target price on shares of Hormel Foods from $27.00 to $26.00 and set a "neutral" rating for the company in a research note on Friday, August 28th. Weiss Ratings lowered shares of Hormel Foods from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, August 28th. Bank of America boosted their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a "neutral" rating in a report on Tuesday, June 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Hormel Foods from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, August 14th. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $26.14.

Hormel Foods Stock Down 1.5%

HRL opened at $21.71 on Friday. The firm's 50-day simple moving average is $24.51 and its 200-day simple moving average is $23.31. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.88. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $26.60. The firm has a market cap of $11.95 billion, a price-to-earnings ratio of 34.46, a PEG ratio of 2.59 and a beta of 0.33.

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

Hormel Foods Company Profile

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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