Assenagon Asset Management S.A. Has $415,000 Position in Hormel Foods Corporation $HRL

Assenagon Asset Management S.A. cut its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 96.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,497 shares of the company’s stock after selling 422,790 shares during the period. Assenagon Asset Management S.A.’s holdings in Hormel Foods were worth $415,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. 180 Wealth Advisors LLC increased its position in Hormel Foods by 67.4% during the fourth quarter. 180 Wealth Advisors LLC now owns 14,483 shares of the company’s stock worth $343,000 after buying an additional 5,831 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Hormel Foods by 11.2% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 141,939 shares of the company’s stock worth $3,243,000 after buying an additional 14,272 shares during the last quarter. Procyon Advisors LLC lifted its position in shares of Hormel Foods by 7.4% in the fourth quarter. Procyon Advisors LLC now owns 23,978 shares of the company’s stock worth $568,000 after buying an additional 1,643 shares during the last quarter. Martin Capital Partners LLC boosted its stake in shares of Hormel Foods by 5.8% during the 4th quarter. Martin Capital Partners LLC now owns 12,365 shares of the company’s stock worth $293,000 after acquiring an additional 674 shares in the last quarter. Finally, Board of the Pension Protection Fund bought a new stake in shares of Hormel Foods during the 4th quarter worth about $92,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of recent analyst reports. Piper Sandler reissued a “neutral” rating and issued a $26.00 price objective (up from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Bank of America upped 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. Stephens increased their price target on Hormel Foods from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. Zacks Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $27.71.

Hormel Foods Stock Performance

NYSE:HRL opened at $22.04 on Thursday. The firm’s 50-day moving average is $23.95 and its 200-day moving average is $23.70. The company has a market cap of $12.13 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.72 and a beta of 0.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.37 and a current ratio of 2.66. Hormel Foods Corporation has a 52-week low of $21.03 and a 52-week high of $32.07.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The business had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue was up 1.3% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Equities research analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 13th will be given a dividend of $0.2925 per share. The ex-dividend date is Monday, April 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.3%. Hormel Foods’s payout ratio is currently 131.46%.

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.