Amundi Boosts Holdings in Hormel Foods Corporation $HRL

Amundi raised its position in Hormel Foods Corporation (NYSE:HRL) by 53.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,671,384 shares of the company’s stock after acquiring an additional 582,664 shares during the period. Amundi owned approximately 0.30% of Hormel Foods worth $51,495,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Hormel Foods by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock worth $1,115,194,000 after purchasing an additional 805,449 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Hormel Foods by 2.2% during the second quarter. Geode Capital Management LLC now owns 7,886,107 shares of the company’s stock worth $237,589,000 after acquiring an additional 166,152 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Hormel Foods by 10.8% during the first quarter. Dimensional Fund Advisors LP now owns 4,157,026 shares of the company’s stock valued at $128,594,000 after acquiring an additional 405,719 shares in the last quarter. Norges Bank acquired a new position in shares of Hormel Foods during the second quarter valued at about $101,201,000. Finally, Northern Trust Corp raised its position in shares of Hormel Foods by 1.4% in the 1st quarter. Northern Trust Corp now owns 3,007,461 shares of the company’s stock valued at $93,051,000 after purchasing an additional 41,236 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HRL. JPMorgan Chase & Co. upped their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research note on Friday, December 5th. Piper Sandler reissued a “neutral” rating and issued a $26.00 target price (up from $25.00) on shares of Hormel Foods in a research report on Friday. Bank of America raised their target price on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Barclays set a $30.00 price target on Hormel Foods and gave the company an “overweight” rating in a research note on Tuesday. Finally, Zacks Research cut Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.29.

Hormel Foods Stock Performance

Shares of NYSE HRL opened at $23.62 on Wednesday. The company has a market capitalization of $12.99 billion, a PE ratio of 27.14, a price-to-earnings-growth ratio of 2.44 and a beta of 0.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47. The company’s fifty day moving average price is $23.15 and its 200 day moving average price is $26.61. Hormel Foods Corporation has a 1 year low of $21.03 and a 1 year high of $33.80.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, December 4th. The company reported $0.32 earnings per share 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 business had revenue of $3.19 billion during the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the prior year, the firm posted $0.42 earnings per share. The company’s revenue 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. On average, research analysts predict that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, January 12th will be given 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 yield of 5.0%. The ex-dividend date is Monday, January 12th. Hormel Foods’s dividend payout ratio (DPR) is currently 134.48%.

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.