Van ECK Associates Corp Has $2.35 Million Holdings in Hormel Foods Corporation $HRL

Van ECK Associates Corp lifted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 2,666.7% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 94,841 shares of the company’s stock after purchasing an additional 91,413 shares during the quarter. Van ECK Associates Corp’s holdings in Hormel Foods were worth $2,354,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. MUFG Securities EMEA plc acquired a new position in Hormel Foods during the 2nd quarter worth approximately $26,000. Strive Financial Group LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at approximately $27,000. Motiv8 Investments LLC bought a new stake in shares of Hormel Foods in the fourth quarter worth $28,000. Fiduciary Financial Advisors bought a new stake in shares of Hormel Foods in the second quarter worth $29,000. Finally, Parkside Financial Bank & Trust boosted its holdings in 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 purchasing an additional 1,025 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Weiss Ratings cut Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, August 28th. Stephens set a $23.00 price target on Hormel Foods in a research report on Friday, August 28th. BNP Paribas Exane decreased their price target on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, August 28th. Bank of America upped their price objective on Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 30th. Finally, The Goldman Sachs Group set a $25.00 target price on shares of Hormel Foods in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $26.14.

Hormel Foods Trading Down 1.5%

Shares of Hormel Foods stock opened at $21.71 on Friday. The business has a fifty day simple moving average of $24.51 and a two-hundred day simple moving average of $23.31. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $26.60. The company has a market capitalization of $11.95 billion, a price-to-earnings ratio of 34.46, a P/E/G ratio of 2.59 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.

Hormel Foods (NYSE:HRL) last released 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 for 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%. The company’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Research analysts forecast that Hormel Foods Corporation will post 1.49 EPS for the current year.

Insiders Place Their Bets

In other Hormel Foods news, Director Gary C. Bhojwani sold 20,200 shares of the firm’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 completion of the sale, the director directly owned 32,002 shares in the company, valued at $784,369.02. This trade represents a 38.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.58% of the stock is currently owned by corporate insiders.

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.