Hormel Foods Corporation $HRL Shares Purchased by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in Hormel Foods Corporation by 48.3%, owning 40,492 shares worth around $1.218 million as of the latest SEC filing.
• Analysts have recently adjusted their price targets for Hormel Foods, with Barclays setting it at $34, while Bank of America lowered it to $28, reflecting mixed sentiment surrounding the stock.
• The company declared a quarterly dividend of $0.29 per share, representing an annual yield of 4.9%, with the payment date set for November 17th.

Nordea Investment Management AB increased its stake in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 48.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,492 shares of the company's stock after acquiring an additional 13,188 shares during the period. Nordea Investment Management AB's holdings in Hormel Foods were worth $1,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Revisor Wealth Management LLC grew its holdings in Hormel Foods by 3.3% during the second quarter. Revisor Wealth Management LLC now owns 11,342 shares of the company's stock worth $357,000 after acquiring an additional 360 shares during the period. G&S Capital LLC boosted its position in Hormel Foods by 2.6% during the second quarter. G&S Capital LLC now owns 15,914 shares of the company's stock worth $481,000 after purchasing an additional 398 shares in the last quarter. Simmons Bank boosted its position in Hormel Foods by 3.7% during the first quarter. Simmons Bank now owns 12,708 shares of the company's stock worth $393,000 after purchasing an additional 448 shares in the last quarter. Blue Trust Inc. boosted its position in Hormel Foods by 17.1% during the first quarter. Blue Trust Inc. now owns 3,220 shares of the company's stock worth $100,000 after purchasing an additional 471 shares in the last quarter. Finally, YANKCOM Partnership boosted its position in Hormel Foods by 18.5% during the first quarter. YANKCOM Partnership now owns 3,081 shares of the company's stock worth $95,000 after purchasing an additional 480 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of recent analyst reports. Barclays reiterated an "overweight" rating and set a $34.00 price target (down previously from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. The Goldman Sachs Group decreased their target price on Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research report on Friday, August 29th. JPMorgan Chase & Co. decreased their target price on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Friday, August 29th. Weiss Ratings restated a "sell (d+)" rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Finally, Bank of America decreased their target price on Hormel Foods from $35.00 to $28.00 and set a "neutral" rating on the stock in a research report on Friday, August 29th. Four investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Hormel Foods currently has a consensus rating of "Hold" and a consensus price target of $31.29.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $23.77 on Friday. Hormel Foods Corporation has a one year low of $23.13 and a one year high of $33.80. The company has a market cap of $13.07 billion, a price-to-earnings ratio of 17.35, a PEG ratio of 5.39 and a beta of 0.29. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 2.47. The business's 50 day moving average price is $25.35 and its 200 day moving average price is $28.30.

Hormel Foods (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.98 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The business's quarterly revenue 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. On average, research analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

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 4.9%. 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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