Fiduciary Alliance LLC Buys Shares of 42,293 Hormel Foods Corporation $HRL

Fiduciary Alliance LLC purchased a new position in shares of Hormel Foods Corporation (NYSE:HRL) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 42,293 shares of the company’s stock, valued at approximately $1,046,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Hormel Foods during the second quarter worth $101,201,000. Alyeska Investment Group L.P. boosted its position in Hormel Foods by 485.7% during the first quarter. Alyeska Investment Group L.P. now owns 1,963,632 shares of the company’s stock valued at $60,755,000 after acquiring an additional 1,628,382 shares during the last quarter. Vanguard Group Inc. boosted its position in Hormel Foods by 2.2% during the second quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock valued at $1,115,194,000 after acquiring an additional 805,449 shares during the last quarter. AQR Capital Management LLC grew its holdings in Hormel Foods by 84.6% during the 2nd quarter. AQR Capital Management LLC now owns 1,506,263 shares of the company’s stock worth $45,564,000 after acquiring an additional 690,398 shares during the period. Finally, Amundi raised its position in shares of Hormel Foods by 53.5% in the 2nd quarter. Amundi now owns 1,671,384 shares of the company’s stock worth $51,495,000 after acquiring an additional 582,664 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Trading Up 0.1%

NYSE HRL opened at $24.02 on Friday. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a 52 week low of $21.03 and a 52 week high of $32.07. The business has a 50 day moving average price of $23.10 and a 200-day moving average price of $26.36. The company has a market cap of $13.21 billion, a price-to-earnings ratio of 27.60, a P/E/G ratio of 2.43 and a beta of 0.33.

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

Hormel Foods Increases Dividend

The firm also recently disclosed 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 4.9%. The ex-dividend date is Monday, January 12th. Hormel Foods’s dividend payout ratio is 134.48%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HRL shares. JPMorgan Chase & Co. upped their target price on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Piper Sandler restated a “neutral” rating and set a $26.00 price target (up from $25.00) on shares of Hormel Foods in a report on Friday, December 5th. 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 report on Thursday, October 30th. Zacks Research downgraded shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Finally, Barclays set a $30.00 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Hormel Foods currently has an average rating of “Hold” and a consensus price target of $28.29.

About Hormel Foods

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.