Hormel Foods (HRL)

• Market cap: $17.4B
• 1 day: 0.32%
• 5 days: -3.65%
• 1 month: 4.83%
• 3 months: -0.28%
• 6 months: 3.94%
• Year to date: -3.41%
• 1 year: 0.80%
• 5 years: -29.54%
• 10 years: 19.64%
• Sector: Consumer Staples
• Industry: Meat Packing Plants

About: Historically meat-focused, Hormel Foods broadened its lineup to include other protein offerings and become a branded food company. The firm sells its wares through multiple channels, including US retail (62% of fiscal 2024 sales), US food service (32%), and international (6%). By product, 72% of fiscal 2024 sales were from perishable food and 28% from shelf-stable. Major brands include Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy. Many of these hold the number one or two market share in their respective categories.

Employees: 20,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

14% more repeat investments, than reductions

Existing positions increased: 242 | Existing positions reduced: 212

5% more first-time investments, than exits

New positions opened: 69 | Existing positions closed: 66

0% more funds holding

Funds holding: 608 [Q2] → 611 (+3) [Q3]

1% less capital invested

Capital invested by funds: $6.93B [Q2] → $6.9B (-$35.7M) [Q3]

1.77% less ownership

Funds ownership: 41.46% [Q2] → 39.69% (-1.77%) [Q3]

13% less call options, than puts

Call options by funds: $50.2M | Put options by funds: $57.5M

20% less funds holding in top 10

Funds holding in top 10: 5 [Q2] → 4 (-1) [Q3]

Research analyst outlook

2 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $31 2% downside
• Avg. target: $33 4% upside
• High target: $35 10% upside

2 analyst ratings

• positive: 1 50%
• neutral: 1 50%
• negative: 0 0%

Citigroup Thomas Palmer 38% 1-year accuracy 13 / 34 met price target	10% upside $35	Buy Maintained	19 Nov 2024
Stephens & Co. Pooran Sharma 0 / 0 met price target	2% downside $31	Equal-Weight Reinstated	3 Oct 2024