Hormel Foods Corporation $HRL Stake Lifted by Wealth Enhancement Advisory Services LLC

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Hormel Foods Corporation by 18.5%, owning 154,984 shares worth approximately $4.72 million at the end of the last quarter.
• Hormel Foods reported a quarterly EPS of $0.35, missing analyst estimates, but had revenues of $3.03 billion, which surpassed expectations.
• The company plans to pay a quarterly dividend of $0.29 per share on November 17th, resulting in an annualized yield of 4.8%.

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 18.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 154,984 shares of the company's stock after purchasing an additional 24,229 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Hormel Foods were worth $4,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HRL. Pacer Advisors Inc. lifted its position in shares of Hormel Foods by 9,725.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company's stock valued at $72,270,000 after acquiring an additional 2,312,024 shares in the last quarter. Alyeska Investment Group L.P. lifted its position in shares of Hormel Foods by 485.7% in the 1st quarter. Alyeska Investment Group L.P. now owns 1,963,632 shares of the company's stock valued at $60,755,000 after acquiring an additional 1,628,382 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $23,427,000. Dimensional Fund Advisors LP lifted its position in shares of Hormel Foods by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,157,026 shares of the company's stock valued at $128,594,000 after acquiring an additional 405,719 shares in the last quarter. Finally, Advisors Preferred LLC purchased a new stake in shares of Hormel Foods in the 1st quarter valued at approximately $8,961,000. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. The Goldman Sachs Group reduced their price target on shares of Hormel Foods from $35.00 to $31.00 and set a "buy" rating for the company in a research report on Friday, August 29th. JPMorgan Chase & Co. cut their target price on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating for the company in a research report on Friday, August 29th. Barclays reiterated an "overweight" rating and issued a $34.00 target price (down previously from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. Bank of America cut their target price on shares of Hormel Foods from $35.00 to $28.00 and set a "neutral" rating for the company in a research report on Friday, August 29th. Finally, Zacks Research downgraded shares of Hormel Foods from a "hold" rating to a "strong sell" rating 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 one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $30.88.

Hormel Foods Price Performance

NYSE:HRL opened at $24.40 on Friday. The company has a 50-day moving average of $27.17 and a 200-day moving average of $29.11. The company has a market capitalization of $13.42 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 5.50 and a beta of 0.31. Hormel Foods Corporation has a 52 week low of $23.71 and a 52 week high of $33.80. 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 (NYSE:HRL - Get Free Report) last released 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). The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.Hormel Foods's revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. As a group, equities research analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Tuesday, October 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Tuesday, October 14th. Hormel Foods's dividend payout ratio is presently 84.67%.

About Hormel Foods

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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