State of New Jersey Common Pension Fund D Sells 11,832 Shares of Hormel Foods Corporation $HRL

State of New Jersey Common Pension Fund D reduced its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 10.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 104,211 shares of the company’s stock after selling 11,832 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Hormel Foods were worth $3,224,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of HRL. ProShare Advisors LLC increased its position in shares of Hormel Foods by 7.3% during the 4th quarter. ProShare Advisors LLC now owns 6,072,682 shares of the company’s stock valued at $190,500,000 after purchasing an additional 413,669 shares during the last quarter. Millennium Management LLC grew its position in Hormel Foods by 6.2% during the fourth quarter. Millennium Management LLC now owns 4,488,678 shares of the company’s stock valued at $140,810,000 after buying an additional 261,742 shares during the period. Dimensional Fund Advisors LP increased its holdings in Hormel Foods by 10.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,157,026 shares of the company’s stock worth $128,594,000 after buying an additional 405,719 shares during the last quarter. Northern Trust Corp increased its holdings in Hormel Foods by 11.5% during the fourth quarter. Northern Trust Corp now owns 2,966,225 shares of the company’s stock worth $93,050,000 after buying an additional 306,567 shares during the last quarter. Finally, Pacer Advisors Inc. raised its position in 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 during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HRL shares. BNP Paribas raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 27th. Stephens reiterated an “equal weight” rating and issued a $31.00 price objective on shares of Hormel Foods in a research note on Thursday, May 22nd. BNP Paribas Exane raised Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 target price for the company in a research report on Tuesday, May 27th. The Goldman Sachs Group assumed coverage on Hormel Foods in a research note on Monday, June 23rd. They issued a “buy” rating and a $35.00 target price on the stock. Finally, JPMorgan Chase & Co. upgraded Hormel Foods from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $29.00 to $34.00 in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Hormel Foods Stock Up 0.8%

HRL stock opened at $28.6250 on Thursday. The stock has a 50-day simple moving average of $29.57 and a two-hundred day simple moving average of $29.68. Hormel Foods Corporation has a twelve month low of $27.59 and a twelve month high of $33.80. The firm has a market capitalization of $15.74 billion, a PE ratio of 21.05, a PEG ratio of 3.23 and a beta of 0.31. The company has a quick ratio of 1.17, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.35 EPS for the quarter, meeting analysts’ consensus estimates of $0.35. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.92 billion. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. Hormel Foods’s revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.38 earnings per share. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. On average, equities analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods 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.