UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 1,408,578 Shares of Hormel Foods Corporation $HRL

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in shares of Hormel Foods Corporation (NYSE:HRL) by 70.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 594,344 shares of the company’s stock after selling 1,408,578 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Hormel Foods were worth $14,752,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Hormel Foods in the 2nd quarter valued at $489,092,000. Invesco Ltd. lifted its position in shares of Hormel Foods by 66.5% during the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock worth $280,352,000 after purchasing an additional 4,526,167 shares during the last quarter. Norges Bank purchased a new stake in shares of Hormel Foods during the fourth quarter valued at $85,840,000. Bank of America Corp DE bought a new position in shares of Hormel Foods in the second quarter worth about $51,787,000. Finally, Epoch Investment Partners Inc. bought a new position in shares of Hormel Foods in the first quarter worth about $44,733,000. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Down 0.7%

Hormel Foods stock opened at $21.53 on Friday. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $26.60. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 34.18, a PEG ratio of 2.53 and a beta of 0.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.88 and a quick ratio of 0.92. The business has a fifty day moving average price of $24.41 and a 200-day moving average price of $23.30.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. The firm had revenue of $2.96 billion during the quarter, compared to analyst estimates of $3.03 billion. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. Hormel Foods’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Equities research analysts forecast that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

Insider Buying and Selling at Hormel Foods

In related news, Director Gary C. Bhojwani sold 20,200 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $24.51, for a total value of $495,102.00. Following the transaction, the director directly owned 32,002 shares of the company’s stock, valued at $784,369.02. This represents a 38.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HRL has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price target on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, August 14th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research report on Thursday, May 21st. Bank of America increased their price target on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. 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 research note on Friday, August 28th. Finally, Stephens set a $23.00 price objective on Hormel Foods in a report on Friday, August 28th. Two investment 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. According to data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average price target of $26.14.

About Hormel Foods

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.