Sky Investment Group LLC Purchases 43,460 Shares of Hormel Foods Corporation $HRL

Sky Investment Group LLC boosted its position in Hormel Foods Corporation (NYSE:HRL) by 120.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,490 shares of the company’s stock after buying an additional 43,460 shares during the period. Sky Investment Group LLC’s holdings in Hormel Foods were worth $1,967,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. MUFG Securities EMEA plc acquired a new position in shares of Hormel Foods in the 2nd quarter valued at about $26,000. Cromwell Holdings LLC increased its holdings in Hormel Foods by 162.7% in the second quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock worth $30,000 after purchasing an additional 620 shares in the last quarter. Caldwell Trust Co bought a new stake in Hormel Foods in the second quarter worth approximately $30,000. Quarry LP acquired a new position in Hormel Foods in the first quarter valued at approximately $41,000. Finally, Assetmark Inc. boosted its holdings in shares of Hormel Foods by 1,490.7% during the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock worth $47,000 after buying an additional 1,446 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Trading Down 1.4%

NYSE:HRL opened at $23.65 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.47 and a quick ratio of 1.20. Hormel Foods Corporation has a one year low of $21.03 and a one year high of $32.07. The company has a market cap of $13.01 billion, a PE ratio of 27.19, a PEG ratio of 2.44 and a beta of 0.33. The firm has a 50-day moving average of $23.09 and a 200-day moving average of $26.31.

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

Hormel Foods Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, January 12th will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 4.9%. This is an increase from Hormel Foods’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, January 12th. Hormel Foods’s dividend payout ratio is currently 133.33%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price objective (up previously from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. 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. JPMorgan Chase & Co. increased their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research note on Wednesday, October 8th. Finally, Zacks Research downgraded 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 assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $28.29.

About Hormel Foods

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.