Elo Mutual Pension Insurance Co Acquires 35,126 Shares of Hormel Foods Corporation $HRL

Elo Mutual Pension Insurance Co lifted its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 128.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,499 shares of the company’s stock after purchasing an additional 35,126 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Hormel Foods were worth $1,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its position in Hormel Foods by 2.0% during the third quarter. Vanguard Group Inc. now owns 37,595,843 shares of the company’s stock worth $930,121,000 after buying an additional 729,942 shares during the last quarter. State Street Corp increased its holdings in shares of Hormel Foods by 1.3% during the 2nd quarter. State Street Corp now owns 28,068,704 shares of the company’s stock valued at $849,078,000 after acquiring an additional 354,340 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Hormel Foods by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,886,107 shares of the company’s stock valued at $237,589,000 after acquiring an additional 166,152 shares in the last quarter. ProShare Advisors LLC lifted its holdings in Hormel Foods by 11.2% in the 3rd quarter. ProShare Advisors LLC now owns 5,769,398 shares of the company’s stock worth $142,735,000 after purchasing an additional 581,006 shares during the last quarter. Finally, Norges Bank bought a new stake in Hormel Foods during the second quarter worth approximately $101,201,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HRL. Bank of America lifted their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 target price (up from $25.00) on shares of Hormel Foods in a report on Friday, December 5th. Stephens boosted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. JPMorgan Chase & Co. upped their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Finally, Wall Street Zen upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Hormel Foods currently has an average rating of “Hold” and an average target price of $27.71.

Hormel Foods Price Performance

Shares of Hormel Foods stock opened at $24.20 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.66 and a quick ratio of 1.37. The company has a market cap of $13.32 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 2.94 and a beta of 0.32. The firm has a fifty day moving average price of $24.26 and a two-hundred day moving average price of $24.23. Hormel Foods Corporation has a fifty-two week low of $21.03 and a fifty-two week high of $32.07.

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