Hormel Foods Corporation $HRL Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in Hormel Foods Corporation (NYSE:HRL) by 661.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 232,159 shares of the company’s stock after purchasing an additional 201,670 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Hormel Foods were worth $5,430,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of HRL. MUFG Securities EMEA plc bought a new position in Hormel Foods in the second quarter worth about $26,000. Caldwell Trust Co bought a new position in Hormel Foods in the second quarter worth about $30,000. GoalVest Advisory LLC bought a new position in Hormel Foods in the fourth quarter worth about $25,000. Federated Hermes Inc. bought a new position in Hormel Foods in the third quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Hormel Foods by 514.6% in the third quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after acquiring an additional 1,266 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of recent research reports. Zacks Research raised shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Barclays set a $30.00 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a report on Thursday, January 22nd. Stephens raised their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Finally, Wall Street Zen raised shares of Hormel Foods from a “sell” rating to a “hold” rating in a report on Saturday, January 17th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $27.71.

Hormel Foods Stock Performance

HRL opened at $21.85 on Tuesday. The business’s 50 day moving average is $23.79 and its 200-day moving average is $23.63. The stock has a market cap of $12.02 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 2.66 and a beta of 0.36. The company has a current ratio of 2.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a twelve month low of $21.03 and a twelve month high of $31.86.

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

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 13th will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.17 annualized dividend and a yield of 5.4%. Hormel Foods’s payout ratio is presently 131.46%.

Hormel Foods Company 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.