Hormel Foods Corporation $HRL Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its holdings in Hormel Foods Corporation (NYSE:HRL) by 11.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 448,498 shares of the company’s stock after selling 59,899 shares during the quarter. Hsbc Holdings PLC’s holdings in Hormel Foods were worth $11,185,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research firms have commented on HRL. The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research report on Thursday, May 21st. BNP Paribas Exane cut their price target on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating on the stock in a report on Friday, August 28th. Bank of America boosted their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. Stephens set a $23.00 price objective on Hormel Foods in a report on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $26.14.

Insider Activity

In other news, Director Gary C. Bhojwani sold 20,200 shares of the business’s stock in a transaction that occurred 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 owned 32,002 shares in the company, valued at $784,369.02. The trade was a 38.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.58% of the stock is owned by corporate insiders.

Hormel Foods Price Performance

NYSE HRL opened at $20.95 on Thursday. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $26.60. The business’s fifty day moving average is $24.16 and its two-hundred day moving average is $23.24. The stock has a market capitalization of $11.53 billion, a P/E ratio of 33.25, a P/E/G ratio of 2.49 and a beta of 0.33. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.92 and a current ratio of 1.88.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the business posted $0.35 EPS. Hormel Foods’s revenue was down 2.4% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. On average, research analysts forecast that Hormel Foods Corporation will post 1.49 earnings per share for the current fiscal year.

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.