The Manufacturers Life Insurance Company Invests $5.55 Million in Hormel Foods Corporation $HRL

The Manufacturers Life Insurance Company bought a new stake in shares of Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 223,769 shares of the company’s stock, valued at approximately $5,554,000.

Other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Hormel Foods in the 2nd quarter worth about $26,000. Strive Financial Group LLC bought a new position in Hormel Foods in the 4th quarter worth about $27,000. Motiv8 Investments LLC bought a new position in Hormel Foods in the 4th quarter worth about $28,000. Fiduciary Financial Advisors purchased a new position in shares of Hormel Foods during the second quarter worth approximately $29,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Hormel Foods by 354.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,314 shares of the company’s stock worth $31,000 after acquiring an additional 1,025 shares during the period. 40.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on HRL shares. Weiss Ratings cut Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. JPMorgan Chase & Co. lifted 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. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a 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. Finally, BNP Paribas Exane decreased their price objective on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating for the company in a report on Friday. Two equities 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.14.

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 transaction of $495,102.00. Following the completion of the sale, the director directly owned 32,002 shares in the company, valued at $784,369.02. This represents a 38.70% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.58% of the stock is owned by company insiders.

Hormel Foods Price Performance

NYSE HRL opened at $21.84 on Tuesday. The company has a market cap of $12.02 billion, a PE ratio of 34.67, a P/E/G ratio of 2.49 and a beta of 0.34. The firm’s 50 day moving average price is $24.72 and its 200-day moving average price is $23.35. 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 Corporation has a 52-week low of $19.70 and a 52-week high of $26.60.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate 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 for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Sell-side analysts forecast that Hormel Foods Corporation will post 1.49 EPS for the current fiscal 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.