TD Asset Management Inc lessened its stake in shares of Hormel Foods Corporation (NYSE:HRL – Free Report) by 23.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 335,779 shares of the company’s stock after selling 100,621 shares during the quarter. TD Asset Management Inc owned about 0.06% of Hormel Foods worth $7,958,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of HRL. Wealthfront Advisers LLC raised its position in Hormel Foods by 107.5% during the third quarter. Wealthfront Advisers LLC now owns 456,666 shares of the company’s stock valued at $11,298,000 after purchasing an additional 236,637 shares in the last quarter. Vanguard Group Inc. lifted its position in Hormel Foods by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 37,595,843 shares of the company’s stock worth $930,121,000 after buying an additional 729,942 shares during the last quarter. Vest Financial LLC grew its position in Hormel Foods by 9.1% during the fourth quarter. Vest Financial LLC now owns 2,042,541 shares of the company’s stock valued at $48,408,000 after acquiring an additional 171,137 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Hormel Foods by 297.6% during the third quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock worth $103,815,000 after acquiring an additional 3,142,670 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in Hormel Foods by 18.5% during the third quarter. First Trust Advisors LP now owns 2,661,529 shares of the company’s stock valued at $65,846,000 after buying an additional 415,915 shares during the period. 40.99% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
HRL has been the subject of a number of recent analyst reports. The Goldman Sachs Group set a $25.00 price target on Hormel Foods in a research report on Thursday, May 21st. Stephens raised their price target on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 price target (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Bank of America boosted their price objective on shares of Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.67.
Hormel Foods Price Performance
HRL opened at $24.00 on Wednesday. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $31.86. The stock has a 50-day moving average price of $21.53 and a 200-day moving average price of $23.03. The firm has a market cap of $13.21 billion, a PE ratio of 28.24, a P/E/G ratio of 2.72 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97.
Hormel Foods (NYSE:HRL – Get Free Report) last issued its earnings results on Thursday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Sell-side analysts predict that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal year.
Hormel Foods Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a yield of 4.9%. Hormel Foods’s dividend payout ratio is 137.65%.
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.
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