Horizon Investments LLC Sells 49,378 Shares of Hormel Foods Corporation $HRL

Key Points

• Horizon Investments LLC sharply cut its stake in Hormel Foods, selling 49,378 shares in the fourth quarter and reducing its position by 82.6% to 10,433 shares worth about $244,000.
• Wall Street sentiment on Hormel remains cautious: analysts currently show an average Hold rating with a consensus price target of $27.00, while JPMorgan lowered its target to $23.00 and Weiss Ratings reiterated a sell rating.
• Hormel recently reported better-than-expected EPS of $0.34, but revenue came in slightly below estimates; the company also declared a quarterly dividend of $0.2925 per share, implying a 5.7% yield.

Horizon Investments LLC reduced its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 82.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,433 shares of the company's stock after selling 49,378 shares during the period. Horizon Investments LLC's holdings in Hormel Foods were worth $244,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in HRL. GoalVest Advisory LLC bought a new position in shares of Hormel Foods during the fourth quarter valued at about $25,000. MUFG Securities EMEA plc bought a new position in shares of Hormel Foods during the second quarter valued at about $26,000. Federated Hermes Inc. bought a new position in shares of Hormel Foods during the third quarter valued at about $31,000. Brown Brothers Harriman & Co. lifted its position in shares of Hormel Foods by 514.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company's stock valued at $37,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Banque Cantonale Vaudoise bought a new position in shares of Hormel Foods during the third quarter valued at about $64,000. 40.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Stephens raised their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the company an "equal weight" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "sell (d+)" rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Hormel Foods from a "sell" rating to a "hold" rating in a research report on Saturday, January 17th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $27.00.

Hormel Foods Stock Performance

NYSE HRL opened at $20.43 on Friday. The company's 50 day moving average is $22.37 and its 200-day moving average is $23.17. Hormel Foods Corporation has a 12-month low of $20.32 and a 12-month high of $31.86. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. The firm has a market cap of $11.24 billion, a P/E ratio of 22.95, a price-to-earnings-growth ratio of 2.48 and a beta of 0.33.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the firm posted $0.35 earnings per share. The company's quarterly revenue was up 1.3% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Sell-side analysts predict that Hormel Foods Corporation will post 1.42 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 13th will be paid 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 5.7%. Hormel Foods's payout ratio is currently 131.46%.

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.

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