Allspring Global Investments Holdings LLC Reduces Position in Hormel Foods Corporation $HRL

Allspring Global Investments Holdings LLC trimmed its position in Hormel Foods Corporation (NYSE:HRL - Free Report) by 64.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,405 shares of the company's stock after selling 57,620 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Hormel Foods were worth $964,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. CWM LLC lifted its holdings in shares of Hormel Foods by 5.3% in the second quarter. CWM LLC now owns 580,073 shares of the company's stock worth $17,547,000 after buying an additional 29,124 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Hormel Foods by 40.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 33,100 shares of the company's stock worth $1,001,000 after buying an additional 9,450 shares in the last quarter. Aberdeen Group plc lifted its holdings in shares of Hormel Foods by 7.3% in the second quarter. Aberdeen Group plc now owns 296,505 shares of the company's stock worth $8,895,000 after buying an additional 20,129 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Hormel Foods by 31.7% in the second quarter. Blue Trust Inc. now owns 4,240 shares of the company's stock worth $128,000 after buying an additional 1,020 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in shares of Hormel Foods by 72.2% in the second quarter. Blair William & Co. IL now owns 12,628 shares of the company's stock worth $382,000 after buying an additional 5,296 shares in the last quarter. 40.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HRL has been the topic of a number of recent analyst reports. Bank of America lowered their price target on shares of Hormel Foods from $35.00 to $28.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. Zacks Research cut shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Barclays restated an "overweight" rating and issued a $34.00 price objective (down from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. The Goldman Sachs Group decreased their price objective on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Friday, August 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $31.29.

Hormel Foods Stock Up 0.2%

Shares of Hormel Foods stock opened at $24.14 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 2.47. Hormel Foods Corporation has a 52-week low of $23.13 and a 52-week high of $33.80. The stock has a market capitalization of $13.28 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 5.37 and a beta of 0.29. The company's 50 day moving average price is $25.44 and its 200-day moving average price is $28.34.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its earnings results on Thursday, August 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.06). Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The firm had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the business posted $0.37 EPS. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Equities research analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Tuesday, October 14th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Tuesday, October 14th. This represents a $1.16 dividend on an annualized basis and a yield of 4.8%. Hormel Foods's dividend payout ratio (DPR) is presently 84.67%.

Hormel Foods Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.

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