AGF Management Ltd. Makes New Investment in Hormel Foods Corporation $HRL

AGF Management Ltd. bought a new position in Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 100,536 shares of the company’s stock, valued at approximately $3,041,000.

Several other large investors have also made changes to their positions in HRL. J.W. Cole Advisors Inc. acquired a new stake in shares of Hormel Foods in the first quarter valued at approximately $1,283,000. Shell Asset Management Co. grew its holdings in Hormel Foods by 94.7% in the 2nd quarter. Shell Asset Management Co. now owns 47,390 shares of the company’s stock worth $1,434,000 after buying an additional 23,046 shares in the last quarter. Machina Capital S.A.S. acquired a new stake in Hormel Foods in the 2nd quarter valued at approximately $820,000. Nordea Investment Management AB increased its position in Hormel Foods by 48.3% in the 2nd quarter. Nordea Investment Management AB now owns 40,492 shares of the company’s stock valued at $1,218,000 after acquiring an additional 13,188 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Hormel Foods by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,123,392 shares of the company’s stock valued at $65,698,000 after acquiring an additional 52,736 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the stock a “buy” rating in a research note on Thursday, October 30th. Piper Sandler lowered their price objective on shares of Hormel Foods from $26.00 to $25.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Zacks Research lowered Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Finally, Barclays reiterated an “overweight” rating and set a $34.00 price target (down from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $30.00.

Hormel Foods Price Performance

HRL opened at $22.16 on Tuesday. The stock has a fifty day moving average price of $23.98 and a 200 day moving average price of $27.59. The company has a current ratio of 2.47, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Hormel Foods Corporation has a 1 year low of $21.03 and a 1 year high of $33.80. The stock has a market cap of $12.19 billion, a price-to-earnings ratio of 16.18, a PEG ratio of 4.95 and a beta of 0.29.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.35 earnings per share (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 analyst estimates of $2.98 billion. During the same period in the previous year, the firm posted $0.37 EPS. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Tuesday, October 14th will be paid a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 5.2%. The ex-dividend date is Tuesday, October 14th. Hormel Foods’s payout ratio is currently 84.67%.

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.