82,595 Shares in Hormel Foods Corporation $HRL Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new stake in Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 82,595 shares of the company’s stock, valued at approximately $2,050,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in shares of Hormel Foods during the 2nd quarter worth $489,092,000. Invesco Ltd. raised its position in shares of Hormel Foods by 66.5% in the 3rd quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock worth $280,352,000 after buying an additional 4,526,167 shares during the period. Norges Bank acquired a new position in Hormel Foods in the fourth quarter valued at $85,840,000. Bank of America Corp DE acquired a new position in Hormel Foods in the second quarter valued at $51,787,000. Finally, Epoch Investment Partners Inc. purchased a new stake in Hormel Foods during the first quarter valued at about $44,733,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. BNP Paribas Exane dropped their price target on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 28th. Bank of America lifted their price objective on Hormel Foods from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, June 30th. JPMorgan Chase & Co. increased their target price on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a report on Thursday, May 21st. Finally, Weiss Ratings cut shares of Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 28th. Two research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $26.14.

Hormel Foods Trading Down 0.0%

Shares of HRL opened at $21.53 on Monday. The stock’s 50-day moving average is $24.41 and its two-hundred day moving average is $23.30. The stock has a market cap of $11.85 billion, a PE ratio of 34.18, a P/E/G ratio of 2.53 and a beta of 0.33. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $26.60. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92.

Hormel Foods (NYSE:HRL) last issued 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. Hormel Foods had a return on equity of 9.91% and a net margin of 2.82%.The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the business earned $0.35 earnings per share. The company’s revenue was down 2.4% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Equities analysts forecast that Hormel Foods Corporation will post 1.49 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the company’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 value of $495,102.00. Following the completion of the transaction, the director owned 32,002 shares in the company, valued at $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.58% of the stock is currently owned by corporate insiders.

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.