Hormel Foods Corporation $HRL Shares Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC increased its stake in Hormel Foods Corporation by 90.9%, acquiring a total of 27,688 shares valued at approximately $838,000.
• The company reported $0.35 earnings per share (EPS), missing expectations of $0.41, while revenue for the quarter was $3.03 billion, exceeding analyst estimates of $2.98 billion.
• Hormel Foods announced a quarterly dividend of $0.29 per share, set for payment on November 17th, with an annualized yield of 4.7%.

HB Wealth Management LLC increased its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 90.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,688 shares of the company's stock after buying an additional 13,185 shares during the quarter. HB Wealth Management LLC's holdings in Hormel Foods were worth $838,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. J.W. Cole Advisors Inc. purchased a new stake in Hormel Foods during the 1st quarter worth approximately $1,283,000. Principal Financial Group Inc. increased its holdings in Hormel Foods by 12.0% during the 1st quarter. Principal Financial Group Inc. now owns 452,925 shares of the company's stock worth $14,014,000 after purchasing an additional 48,657 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Hormel Foods by 180.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company's stock worth $2,737,000 after purchasing an additional 57,280 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Hormel Foods by 2.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,123,392 shares of the company's stock worth $65,698,000 after purchasing an additional 52,736 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Hormel Foods by 22.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,150,394 shares of the company's stock worth $35,593,000 after purchasing an additional 208,883 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company's stock.

Hormel Foods Trading Down 0.1%

NYSE:HRL opened at $24.65 on Friday. 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 $13.55 billion, a P/E ratio of 17.99, a P/E/G ratio of 5.49 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.12. The business has a 50 day simple moving average of $26.62 and a 200 day simple moving average of $28.90.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The company'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 research analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Dividend Announcement

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

Analysts Set New Price Targets

HRL has been the topic of several analyst reports. Barclays restated an "overweight" rating and set a $34.00 price objective (down from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Bank of America dropped their price objective on Hormel Foods from $35.00 to $28.00 and set a "neutral" rating on the stock in a report on Friday, August 29th. The Goldman Sachs Group dropped their price objective on Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a report on Friday, August 29th. Weiss Ratings restated a "sell (d+)" rating on shares of Hormel Foods in a report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lowered their price target on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $30.88.

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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