Rakuten Investment Management Inc. Invests $814,000 in Hormel Foods Corporation $HRL

Rakuten Investment Management Inc. purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 30,921 shares of the company’s stock, valued at approximately $814,000.

Other hedge funds have also recently modified their holdings of the company. Empowered Funds LLC acquired a new stake in Hormel Foods during the second quarter worth about $1,129,000. United Capital Financial Advisors LLC acquired a new position in Hormel Foods in the 2nd quarter valued at about $406,000. Equitable Holdings Inc. purchased a new stake in shares of Hormel Foods in the 2nd quarter valued at approximately $484,000. Jefferies Financial Group Inc. purchased a new stake in shares of Hormel Foods in the 2nd quarter valued at approximately $558,000. Finally, Public Employees Retirement System of Ohio acquired a new stake in shares of Hormel Foods during the 2nd quarter worth approximately $2,050,000. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Insider Activity at Hormel Foods

In other news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction 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 sale, the director 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America lifted their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research report on Tuesday, June 30th. Weiss Ratings cut Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research report on Thursday, May 21st. JPMorgan Chase & Co. upped their price target on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, August 14th. Finally, BNP Paribas Exane lowered their price target on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.14.

Hormel Foods Trading Up 1.3%

NYSE HRL opened at $21.84 on Tuesday. The firm has a 50 day simple moving average of $24.72 and a 200-day simple moving average of $23.35. 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 one year low of $19.70 and a one year high of $26.60. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 34.67, a PEG ratio of 2.49 and a beta of 0.34.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The firm’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.35 EPS. 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.