Midwest Trust Co Trims Position in Hormel Foods Corporation $HRL

Key Points

• Midwest Trust Co cut its Hormel Foods stake by 48.6% in the fourth quarter, selling 144,865 shares and ending with 153,215 shares worth about $3.63 million.
• Wall Street sentiment on Hormel remains cautious: the stock carries a Hold consensus rating with an average price target of $27, while JPMorgan lowered its target to $23 and Weiss Ratings reiterated a sell rating.
• Hormel shares were trading near their 52-week low at $20.43, even after the company beat quarterly EPS estimates; it also announced a 5.7% dividend yield with a quarterly payout of $0.2925 per share.

Midwest Trust Co reduced its holdings in Hormel Foods Corporation (NYSE:HRL - Free Report) by 48.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 153,215 shares of the company's stock after selling 144,865 shares during the period. Midwest Trust Co's holdings in Hormel Foods were worth $3,631,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in Hormel Foods by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company's stock valued at $1,308,000 after purchasing an additional 437 shares during the period. SBI Securities Co. Ltd. grew its position in Hormel Foods by 6.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 8,583 shares of the company's stock worth $203,000 after purchasing an additional 483 shares during the period. Siemens Fonds Invest GmbH grew its position in Hormel Foods by 3.8% during the 3rd quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company's stock worth $332,000 after purchasing an additional 486 shares during the period. Mystic Asset Management Inc. raised its stake in shares of Hormel Foods by 6.4% during the 3rd quarter. Mystic Asset Management Inc. now owns 8,300 shares of the company's stock valued at $205,000 after buying an additional 500 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in shares of Hormel Foods by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 90,362 shares of the company's stock valued at $2,236,000 after buying an additional 560 shares during the period. Institutional investors and hedge funds own 40.99% of the company's stock.

Analyst Ratings Changes

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

Hormel Foods Trading Down 0.1%

HRL stock opened at $20.43 on Monday. Hormel Foods Corporation has a 52-week low of $20.32 and a 52-week 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 PEG ratio of 2.48 and a beta of 0.33. The company's 50-day simple moving average is $22.37 and its 200-day simple moving average is $23.17.

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

Hormel Foods Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 13th will be paid a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 5.7%. The ex-dividend date of this dividend is Monday, April 13th. Hormel Foods's dividend payout ratio is presently 131.46%.

Hormel Foods Company Profile

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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