Hormel Foods Corporation $HRL Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC trimmed its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 11.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 448,498 shares of the company’s stock after selling 59,899 shares during the period. Hsbc Holdings PLC owned about 0.08% of Hormel Foods worth $11,185,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in shares of Hormel Foods during the 2nd quarter valued at $26,000. Strive Financial Group LLC acquired a new stake in Hormel Foods in the 4th quarter valued at $27,000. Motiv8 Investments LLC purchased a new position in Hormel Foods in the fourth quarter valued at about $28,000. Fiduciary Financial Advisors acquired a new position in shares of Hormel Foods during the second quarter worth about $29,000. Finally, Parkside Financial Bank & Trust lifted its stake 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 purchasing an additional 1,025 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Hormel Foods stock opened at $20.95 on Thursday. The stock has a market cap of $11.53 billion, a P/E ratio of 33.25, a price-to-earnings-growth ratio of 2.49 and a beta of 0.33. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average of $24.16 and a 200-day moving average of $23.24. 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 results on Thursday, August 27th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business 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%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. On average, analysts expect that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

HRL has been the topic of several recent research reports. Weiss Ratings lowered Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 28th. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research note on Thursday, May 21st. Bank of America boosted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a research report on Tuesday, June 30th. JPMorgan Chase & Co. lifted their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Finally, Stephens set a $23.00 price objective on shares of Hormel Foods in a report on Friday, August 28th. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.14.

Insider Buying and Selling at Hormel Foods

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

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.