Sumitomo Mitsui DS Asset Management Company Ltd Purchases 51,827 Shares of Hormel Foods Corporation $HRL

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in Hormel Foods Corporation (NYSE:HRL) by 130.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 91,706 shares of the company’s stock after buying an additional 51,827 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hormel Foods were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

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

Hormel Foods Price Performance

Shares of Hormel Foods stock opened at $23.47 on Wednesday. The firm has a market cap of $12.91 billion, a P/E ratio of 26.97, a price-to-earnings-growth ratio of 2.32 and a beta of 0.33. The firm’s 50-day simple moving average is $23.23 and its 200-day simple moving average is $25.41. Hormel Foods Corporation has a twelve month low of $21.03 and a twelve month high of $32.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, December 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.24 billion. During the same quarter last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. As a group, research analysts expect that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, January 12th will be paid a $0.2925 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $1.17 annualized dividend and a yield of 5.0%. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s payout ratio is presently 134.48%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HRL shares. Wall Street Zen downgraded Hormel Foods from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. The Goldman Sachs Group set a $27.00 price objective on shares of Hormel Foods and gave the stock a “buy” rating in a research note on Thursday, October 30th. JPMorgan Chase & Co. boosted their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Bank of America increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Finally, Barclays set a $30.00 price objective on shares of Hormel Foods and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $28.29.

Hormel Foods Company 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.