Trexquant Investment LP reduced its stake in
Hormel Foods, amid a challenging quarter where Hormel faced margin pressure due to inflation. Several shareholders including
Raymond James Financial Inc., Vident Advisory LLC, and Federation des caisses Desjardins du Quebec increased their stakes in the Hormel while others like
Aberdeen Group plc and
Champlain Investment Partners LLC cut their holdings. Financial advisors such as
Bank of America issued a pessimistic forecast for Hormel's stock price due to increasing commodity pressures. Hormel's Q2 and Q3 results fell short of expectations, making operational challenges evident. Several key appointments were made in Hormel’s retail business unit;
Jeffrey Ettinger was appointed interim CEO and
John Ghingo as President. Furthermore, Hormel's shares notably underperformed within the Consumer Defensive Sector. Despite these challenges, the company increased its annual dividend for the 59th consecutive year, reinforcing its dividend reliability. However, continual profitability concerns have led to a significant downturn in Hormel's stock with investors realizing a loss of 31% over the past five years.
Hormel Foods Corporation HRL News Analytics from Fri, 08 Nov 2024 08:00:00 GMT to Sat, 06 Sep 2025 21:06:54 GMT -
Rating -3
- Innovation -2
- Information 2
- Rumor -4
