Barclays PLC Has $49.75 Million Position in Hormel Foods Corporation $HRL

Barclays PLC boosted its holdings in Hormel Foods Corporation (NYSE:HRL) by 97.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,010,924 shares of the company’s stock after acquiring an additional 990,861 shares during the quarter. Barclays PLC owned 0.37% of Hormel Foods worth $49,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Hormel Foods in the 2nd quarter worth approximately $101,201,000. Victory Capital Management Inc. grew its position in Hormel Foods by 297.6% in the third quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock valued at $103,815,000 after acquiring an additional 3,142,670 shares during the period. JPMorgan Chase & Co. raised its stake in Hormel Foods by 58.6% during the third quarter. JPMorgan Chase & Co. now owns 2,237,005 shares of the company’s stock worth $55,345,000 after acquiring an additional 826,564 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hormel Foods by 2.2% during the second quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock valued at $1,115,194,000 after acquiring an additional 805,449 shares during the period. Finally, Miller Howard Investments Inc. NY bought a new position in shares of Hormel Foods during the third quarter valued at $19,824,000. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Down 2.4%

Shares of NYSE:HRL opened at $23.85 on Tuesday. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. The firm has a market cap of $13.12 billion, a P/E ratio of 26.79, a P/E/G ratio of 2.94 and a beta of 0.32. Hormel Foods Corporation has a 12 month low of $21.03 and a 12 month high of $32.07. The company’s 50-day moving average price is $24.26 and its two-hundred day moving average price is $24.11.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, topping 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 company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.07 billion. During the same period in the previous year, the firm posted $0.35 earnings per share. The company’s revenue was up 1.3% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, research analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on HRL. Zacks Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Piper Sandler reaffirmed a “neutral” rating and set a $26.00 price objective (up from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research note on Thursday, January 22nd. Barclays set a $30.00 target price on Hormel Foods and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Finally, Stephens increased their price target on Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research report on Friday, February 27th. Three equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $27.71.

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.