Havemeyer Place LP Purchases New Holdings in Hormel Foods Corporation $HRL

Havemeyer Place LP purchased a new stake in Hormel Foods Corporation (NYSE:HRL) in the fourth quarter, Holdings Channel.com reports. The firm purchased 74,215 shares of the company’s stock, valued at approximately $1,759,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealthfront Advisers LLC boosted its holdings in Hormel Foods by 107.5% in 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 during the last quarter. ProShare Advisors LLC lifted its holdings in Hormel Foods by 11.2% during the 3rd quarter. ProShare Advisors LLC now owns 5,769,398 shares of the company’s stock worth $142,735,000 after buying an additional 581,006 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Hormel Foods by 2.0% during 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 lifted its holdings in Hormel Foods by 9.1% during the 4th quarter. Vest Financial LLC now owns 2,042,541 shares of the company’s stock worth $48,408,000 after buying an additional 171,137 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Hormel Foods by 297.6% during the 3rd quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock worth $103,815,000 after buying an additional 3,142,670 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Up 1.6%

HRL opened at $23.66 on Friday. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $31.86. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The stock has a market cap of $13.02 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.72 and a beta of 0.35. The stock’s 50 day moving average price is $21.49 and its 200 day moving average price is $23.00.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The company had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $2.96 billion. During the same period last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 2.6% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, research analysts predict that Hormel Foods Corporation will post 1.5 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 4.9%. Hormel Foods’s dividend payout ratio (DPR) is 137.65%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America increased their target price on Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Stephens increased their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a report on Thursday, May 21st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a report on Tuesday, April 21st. Two research 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.com, Hormel Foods currently has an average rating of “Hold” and a consensus target price of $25.67.

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.