Legal & General Group Plc Makes New $12.25 Million Investment in Hormel Foods Corporation $HRL

Legal & General Group Plc acquired a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 493,619 shares of the company’s stock, valued at approximately $12,250,000.

A number of other hedge funds have also recently modified their holdings of HRL. MUFG Securities EMEA plc acquired a new stake in Hormel Foods during the 2nd quarter worth $26,000. Strive Financial Group LLC purchased a new position in Hormel Foods during the 4th quarter worth approximately $27,000. Motiv8 Investments LLC acquired a new position in Hormel Foods during the fourth quarter worth approximately $28,000. Fiduciary Financial Advisors purchased a new stake in Hormel Foods in the second quarter valued at approximately $29,000. Finally, Parkside Financial Bank & Trust lifted its stake in Hormel Foods by 354.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock valued at $31,000 after buying an additional 1,025 shares during the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 1.3%

Shares of Hormel Foods stock opened at $21.84 on Tuesday. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 34.67, a price-to-earnings-growth 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. The company’s 50-day simple moving average is $24.72 and its 200-day simple moving average is $23.35. The company has a quick ratio of 0.92, a current ratio of 1.88 and a debt-to-equity ratio of 0.30.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the company earned $0.35 EPS. The firm’s revenue for the quarter 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. As a group, equities research analysts anticipate that Hormel Foods Corporation will post 1.49 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HRL. JPMorgan Chase & Co. raised 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 research report on Thursday, May 21st. BNP Paribas Exane lowered their price objective on shares of Hormel Foods from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday. Bank of America lifted their price objective 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, Weiss Ratings cut shares of Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.14.

Insider Buying and Selling

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $24.51, for a total transaction of $495,102.00. Following the sale, the director directly owned 32,002 shares in the company, valued at approximately $784,369.02. The trade was a 38.70% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.58% of the company’s stock.

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.