Cardinal Point Capital Management ULC Acquires Shares of 8,800 Hormel Foods Corporation $HRL

Cardinal Point Capital Management ULC acquired a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 2nd quarter, HoldingsChannel reports. The fund acquired 8,800 shares of the company’s stock, valued at approximately $266,000.

A number of other hedge funds have also modified their holdings of HRL. Pacer Advisors Inc. raised its position in shares of Hormel Foods by 9,725.4% in the first quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company’s stock valued at $72,270,000 after buying an additional 2,312,024 shares during the last quarter. Alyeska Investment Group L.P. raised its position in shares of Hormel Foods by 485.7% in the first quarter. Alyeska Investment Group L.P. now owns 1,963,632 shares of the company’s stock valued at $60,755,000 after buying an additional 1,628,382 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Hormel Foods in the first quarter valued at about $23,427,000. Dimensional Fund Advisors LP raised its position in shares of Hormel Foods by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 4,157,026 shares of the company’s stock valued at $128,594,000 after buying an additional 405,719 shares during the last quarter. Finally, Advisors Preferred LLC acquired a new stake in shares of Hormel Foods in the first quarter valued at about $8,961,000. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of HRL opened at $23.80 on Friday. Hormel Foods Corporation has a 1-year low of $23.13 and a 1-year high of $33.80. The stock has a market cap of $13.09 billion, a PE ratio of 17.37, a P/E/G ratio of 5.30 and a beta of 0.29. The firm has a 50-day simple moving average of $25.26 and a two-hundred day simple moving average of $28.26. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.12.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business posted $0.37 EPS. The company’s revenue for the quarter 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. As a group, analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Tuesday, October 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.16 annualized dividend and a dividend yield of 4.9%. Hormel Foods’s dividend payout ratio (DPR) is presently 84.67%.

Analysts Set New Price Targets

HRL has been the subject of several recent analyst reports. Bank of America cut their price objective on shares of Hormel Foods from $35.00 to $28.00 and set a “neutral” rating for the company in a research report on Friday, August 29th. Barclays restated an “overweight” rating and set a $34.00 price objective (down from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. JPMorgan Chase & Co. cut their price objective on shares of Hormel Foods from $34.00 to $30.00 and set an “overweight” rating for the company in a research report on Friday, August 29th. The Goldman Sachs Group cut their price objective on shares of Hormel Foods from $35.00 to $31.00 and set a “buy” rating for the company in a research report on Friday, August 29th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Hormel Foods has a consensus rating of “Hold” and an average price target of $31.29.

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.