JPMorgan Chase & Co. Increases Holdings in Hormel Foods Corporation $HRL

JPMorgan Chase & Co. grew its position in shares of Hormel Foods Corporation (NYSE:HRL) by 58.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,237,005 shares of the company’s stock after buying an additional 826,564 shares during the quarter. JPMorgan Chase & Co.’s holdings in Hormel Foods were worth $55,345,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of HRL. MUFG Securities EMEA plc purchased a new stake in Hormel Foods during the second quarter valued at $26,000. Caldwell Trust Co purchased a new position in Hormel Foods in the second quarter worth about $30,000. Federated Hermes Inc. bought a new stake in shares of Hormel Foods during the 3rd quarter valued at about $31,000. Brown Brothers Harriman & Co. increased its position in shares of Hormel Foods by 514.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock valued at $37,000 after purchasing an additional 1,266 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Hormel Foods by 77.4% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,854 shares of the company’s stock valued at $56,000 after purchasing an additional 809 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Zacks Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Bank of America increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Piper Sandler reiterated a “neutral” rating and set a $26.00 price target (up from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Thursday, January 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average price target of $27.71.

Hormel Foods Trading Down 1.0%

Hormel Foods stock opened at $22.15 on Friday. Hormel Foods Corporation has a 12-month low of $21.03 and a 12-month high of $32.07. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 24.89, a P/E/G ratio of 2.69 and a beta of 0.32. The firm has a 50 day moving average of $24.17 and a 200 day moving average of $23.86. The company has a current ratio of 2.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.07 billion. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, research analysts predict that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

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.