Hormel Foods Corporation $HRL Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. boosted its position in Hormel Foods Corporation (NYSE:HRL) by 667.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 440,287 shares of the company’s stock after acquiring an additional 382,918 shares during the quarter. Assenagon Asset Management S.A. owned 0.08% of Hormel Foods worth $10,893,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in HRL. Revisor Wealth Management LLC grew its holdings in Hormel Foods by 3.3% during the 2nd quarter. Revisor Wealth Management LLC now owns 11,342 shares of the company’s stock worth $357,000 after acquiring an additional 360 shares in the last quarter. G&S Capital LLC raised its holdings in shares of Hormel Foods by 2.6% in the 2nd quarter. G&S Capital LLC now owns 15,914 shares of the company’s stock valued at $481,000 after purchasing an additional 398 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of Hormel Foods by 0.6% during the 1st quarter. Voya Investment Management LLC now owns 87,438 shares of the company’s stock worth $2,705,000 after purchasing an additional 484 shares during the last quarter. BTS Asset Management Inc. grew its stake in shares of Hormel Foods by 7.2% during the second quarter. BTS Asset Management Inc. now owns 7,544 shares of the company’s stock worth $228,000 after purchasing an additional 508 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Hormel Foods by 0.6% in the second quarter. Public Employees Retirement System of Ohio now owns 89,802 shares of the company’s stock valued at $2,717,000 after buying an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Down 1.4%

Shares of NYSE HRL opened at $23.65 on Friday. The business has a 50-day moving average price of $23.09 and a 200 day moving average price of $26.28. The stock has a market cap of $13.01 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 2.40 and a beta of 0.33. 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.

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, beating analysts’ consensus estimates of $0.30 by $0.02. The company had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hormel Foods had a return on equity of 9.41% and a net margin of 3.95%.The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. Equities research analysts forecast 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. Investors of record on Monday, January 12th will be paid a dividend of $0.2925 per share. The ex-dividend date is Monday, January 12th. This represents a $1.17 dividend on an annualized basis and a yield of 4.9%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio (DPR) is currently 133.33%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HRL shares. JPMorgan Chase & Co. lifted their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. 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 report on Friday, December 5th. Barclays set a $30.00 target price on Hormel Foods and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Zacks Research cut shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Hormel Foods currently has an average rating of “Hold” and a consensus price target of $28.29.

Hormel Foods 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.