223,769 Shares in Hormel Foods Corporation $HRL Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new stake in shares of Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 223,769 shares of the company’s stock, valued at approximately $5,554,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of HRL. SlateStone Wealth LLC boosted its holdings in shares of Hormel Foods by 2.3% during the 2nd quarter. SlateStone Wealth LLC now owns 17,890 shares of the company’s stock valued at $444,000 after purchasing an additional 400 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Hormel Foods by 1.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 39,005 shares of the company’s stock worth $968,000 after purchasing an additional 427 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Hormel Foods by 5.0% in the fourth quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 8,967 shares of the company’s stock worth $213,000 after buying an additional 431 shares in the last quarter. Advisory Alpha LLC boosted its stake in Hormel Foods by 2.9% during the fourth quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock valued at $367,000 after buying an additional 440 shares during the last quarter. Finally, Vermillion Wealth Management Inc. boosted its stake in Hormel Foods by 1.7% during the fourth quarter. Vermillion Wealth Management Inc. now owns 25,944 shares of the company’s stock valued at $615,000 after buying an additional 441 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Insider Transactions at Hormel Foods

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the business’s 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 owned 32,002 shares in the company, valued at $784,369.02. The trade was a 38.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.58% of the stock is currently owned by insiders.

Hormel Foods Stock Up 1.3%

Shares of HRL opened at $21.84 on Tuesday. The company has a quick ratio of 0.92, a current ratio of 1.88 and a debt-to-equity ratio of 0.30. The business has a fifty day moving average of $24.72 and a 200 day moving average of $23.35. The company has a market cap of $12.02 billion, a PE ratio of 34.67, a P/E/G ratio of 2.49 and a beta of 0.34. Hormel Foods Corporation has a 52-week low of $19.70 and a 52-week high of $26.60.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.02. The business 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 business’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. On average, sell-side analysts expect that Hormel Foods Corporation will post 1.49 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. 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 report on Friday. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a research report on Thursday, May 21st. Bank of America upped their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. Finally, Stephens set a $23.00 price objective on shares of Hormel Foods in a research report on Friday. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average price target of $26.14.

Hormel Foods 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.