Assenagon Asset Management S.A. Sells 127,551 Shares of Hormel Foods Corporation $HRL

Key Points

• Assenagon Asset Management S.A. sold **127,551 shares** of Hormel Foods Corporation, reducing its stake by **69.0%**, leaving it with **57,369 shares** valued at approximately **$1.735 million**.
• Despite a recent **earnings miss**, Hormel Foods reported a revenue increase of **4.6%** year-over-year, with quarterly revenue of **$3.03 billion** compared to the consensus estimate of **$2.98 billion**.
• The company's quarterly dividend of **$0.29** will be paid on **November 17th**, representing an annualized yield of **4.7%** and a payout ratio of **84.67%**.

Assenagon Asset Management S.A. trimmed its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 69.0% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 57,369 shares of the company's stock after selling 127,551 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Hormel Foods were worth $1,735,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of Hormel Foods in the 1st quarter worth approximately $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Hormel Foods in the 1st quarter worth approximately $38,000. Quarry LP bought a new stake in Hormel Foods during the 1st quarter valued at $41,000. Riverview Trust Co raised its holdings in Hormel Foods by 183.8% during the 1st quarter. Riverview Trust Co now owns 1,572 shares of the company's stock valued at $49,000 after buying an additional 1,018 shares during the last quarter. Finally, YANKCOM Partnership raised its holdings in Hormel Foods by 18.5% during the 1st quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock valued at $95,000 after buying an additional 480 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Bank of America lowered their price target on shares of Hormel Foods from $35.00 to $28.00 and set a "neutral" rating for the company in a report on Friday, August 29th. JPMorgan Chase & Co. lowered their price target on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, August 29th. Zacks Research lowered shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a report on Friday, August 29th. The Goldman Sachs Group lowered their price target on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating for the company in a report on Friday, August 29th. Finally, Barclays reiterated an "overweight" rating and set a $34.00 price target (down from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Four equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $30.88.

Hormel Foods Stock Up 1.3%

Shares of NYSE HRL opened at $24.72 on Friday. The company has a current ratio of 2.47, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35. Hormel Foods Corporation has a 12 month low of $23.71 and a 12 month high of $33.80. The firm has a market capitalization of $13.60 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 5.43 and a beta of 0.31. The firm has a fifty day simple moving average of $27.08 and a two-hundred day simple moving average of $29.07.

Hormel Foods (NYSE:HRL - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.35 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 company had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the company posted $0.37 earnings per share. The firm's revenue for the quarter was up 4.6% compared to the same quarter last year. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Equities analysts expect that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Tuesday, October 14th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.16 annualized dividend and a yield of 4.7%. Hormel Foods's dividend payout ratio is 84.67%.

Hormel Foods Company 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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