Vest Financial LLC Has $46.30 Million Holdings in Hormel Foods Corporation $HRL

Vest Financial LLC boosted its holdings in Hormel Foods Corporation (NYSE:HRL) by 7.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,871,404 shares of the company’s stock after purchasing an additional 137,768 shares during the period. Vest Financial LLC’s holdings in Hormel Foods were worth $46,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of HRL. MUFG Securities EMEA plc bought a new position in Hormel Foods during the second quarter worth $26,000. Cromwell Holdings LLC grew its position in Hormel Foods by 162.7% in the 2nd quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock worth $30,000 after purchasing an additional 620 shares during the last quarter. Caldwell Trust Co acquired a new position in shares of Hormel Foods during the second quarter valued at about $30,000. Assetmark Inc. lifted its position in shares of Hormel Foods by 1,490.7% in the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock worth $47,000 after acquiring an additional 1,446 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its position in Hormel Foods by 77.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,854 shares of the company’s stock worth $56,000 after purchasing an additional 809 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Trading Down 0.6%

NYSE HRL opened at $24.41 on Wednesday. Hormel Foods Corporation has a 12 month low of $21.03 and a 12 month high of $32.07. The company has a market cap of $13.43 billion, a PE ratio of 27.96, a PEG ratio of 2.46 and a beta of 0.33. The stock has a 50 day moving average of $23.48 and a 200-day moving average of $25.19. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, December 4th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.02. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. The firm had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.24 billion. During the same period in the prior year, the firm earned $0.42 EPS. The business’s revenue was up 1.5% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. On average, equities research analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, January 12th will be issued a dividend of $0.2925 per share. This is an increase from Hormel Foods’s previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, January 12th. Hormel Foods’s payout ratio is 134.48%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. The Goldman Sachs Group set a $27.00 price objective on Hormel Foods and gave the company a “buy” rating in a report on Thursday, October 30th. Wall Street Zen raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday. Zacks Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Finally, Bank of America upped their target price on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hormel Foods has an average rating of “Hold” and an average target price of $28.29.

Hormel Foods Profile

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.