Geode Capital Management LLC Acquires 63,583 Shares of Hormel Foods Corporation $HRL

Geode Capital Management LLC increased its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 0.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,080,832 shares of the company’s stock after purchasing an additional 63,583 shares during the quarter. Geode Capital Management LLC’s holdings in Hormel Foods were worth $190,805,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Exchange Traded Concepts LLC increased its stake in Hormel Foods by 0.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock worth $1,308,000 after purchasing an additional 437 shares in the last quarter. Advisory Alpha LLC increased its stake in Hormel Foods by 2.9% during the 4th quarter. Advisory Alpha LLC now owns 15,477 shares of the company’s stock worth $367,000 after purchasing an additional 440 shares in the last quarter. SBI Securities Co. Ltd. increased its stake in Hormel Foods by 6.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 8,583 shares of the company’s stock worth $203,000 after purchasing an additional 483 shares in the last quarter. Siemens Fonds Invest GmbH increased its stake in Hormel Foods by 3.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company’s stock worth $332,000 after purchasing an additional 486 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its stake in Hormel Foods by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 90,362 shares of the company’s stock worth $2,236,000 after purchasing an additional 560 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of research reports. The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Stephens increased their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Bank of America upped their price target on Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $25.67.

Hormel Foods Trading Down 0.9%

NYSE:HRL opened at $23.14 on Thursday. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $31.86. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $21.47 and a two-hundred day moving average price of $22.99. The company has a market cap of $12.74 billion, a P/E ratio of 27.23, a price-to-earnings-growth ratio of 2.69 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, May 28th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter in the prior year, the firm posted $0.35 EPS. The business’s revenue was up 2.6% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, analysts expect that Hormel Foods Corporation will post 1.49 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 5.1%. Hormel Foods’s dividend payout ratio is 137.65%.

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.