Should You Consider Investing in Hormel Foods Corp. (HRL)?

LRT Capital Management, an investment management firm, published its third-quarter 2021 investor letter – a copy of which can be downloaded here. A return of +18.39% was recorded by the LRT Economic Moat strategy year-to-date, extending its 12-month returns to +35.34%. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.

LRT Capital Management, in its Q3 2021 investor letter, mentioned Hormel Foods Corporation (NYSE: HRL) and discussed its stance on the firm. Hormel Foods Corporation is an Austin, Minnesota-based food company with a $23.2 billion market capitalization. HRL delivered a -8.15% return since the beginning of the year, while its 12-month returns are down by -8.66%. The stock closed at $42.81 per share on November 26, 2021.

Here is what LRT Capital Management has to say about Hormel Foods Corporation  in its Q3 2021 investor letter:

“Hormel Foods Corporation (HRL) – the maker of SPAM and Applegate Turkey (among many other products), is down over 20% since peaking last year, largely on fears of higher cost. We expect the company will be able to raise prices to offset cost inflation as they have always been able to do win their past.”

Photo by Hannes Johnson on Unsplash

Based on our calculations, Hormel Foods Corporation (NYSE: HRL) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. HRL was in 29 hedge fund portfolios at the end of the third quarter of 2021, compared to 24 funds in the previous quarter. Hormel Foods Corporation (NYSE: HRL) delivered a -4.10% return in the past 3 months.

Disclosure: None. This article is originally published at Insider Monkey.