Midwest Trust Co Acquires Shares of 380,500 Hormel Foods Corporation $HRL

Midwest Trust Co bought a new position in Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 380,500 shares of the company’s stock, valued at approximately $11,510,000.

Several other large investors have also recently modified their holdings of HRL. Cromwell Holdings LLC lifted its position in Hormel Foods by 162.7% in the second quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock worth $30,000 after buying an additional 620 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Hormel Foods in the first quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Hormel Foods in the first quarter valued at $38,000. Quarry LP purchased a new position in shares of Hormel Foods during the 1st quarter worth about $41,000. Finally, Assetmark Inc. grew its holdings in Hormel Foods by 1,490.7% during the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock valued at $47,000 after purchasing an additional 1,446 shares during the last quarter. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Trading Up 1.5%

HRL opened at $22.05 on Monday. The stock’s fifty day moving average is $24.05 and its two-hundred day moving average is $27.64. The company has a market capitalization of $12.12 billion, a P/E ratio of 16.09, a PEG ratio of 4.95 and a beta of 0.29. Hormel Foods Corporation has a 52 week low of $21.03 and a 52 week high of $33.80. The company has a quick ratio of 1.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. Hormel Foods’s quarterly revenue was up 4.6% compared to the same quarter last year. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Tuesday, October 14th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, October 14th. Hormel Foods’s dividend payout ratio is presently 84.67%.

Analyst Ratings Changes

Several brokerages have issued reports on HRL. Zacks Research downgraded shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Barclays reissued an “overweight” rating and set a $34.00 price target (down from $36.00) on shares of Hormel Foods in a research note on Friday, August 29th. Bank of America dropped their price objective on Hormel Foods from $35.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 29th. JPMorgan Chase & Co. reduced their target price on Hormel Foods from $34.00 to $30.00 and set an “overweight” rating on the stock in a research note on Friday, August 29th. Finally, Piper Sandler lowered their target price on shares of Hormel Foods from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.