TrueMark Investments LLC Takes $3.29 Million Position in Hormel Foods Corporation $HRL

Key Points

• TrueMark Investments LLC has acquired a new stake in Hormel Foods Corporation, purchasing 108,807 shares valued at approximately $3.29 million in the second quarter.
• Shares of Hormel Foods opened at $24.05, with a market capitalization of $13.23 billion and a 52-week range from $23.13 to $33.80.
• The company announced a quarterly dividend of $0.29 per share, representing an annualized dividend yield of 4.8%, with an ex-dividend date set for October 14th.

TrueMark Investments LLC bought a new stake in Hormel Foods Corporation (NYSE:HRL - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,807 shares of the company's stock, valued at approximately $3,291,000.

Other institutional investors also recently modified their holdings of the company. J.W. Cole Advisors Inc. bought a new position in shares of Hormel Foods in the first quarter valued at approximately $1,283,000. Shell Asset Management Co. raised its stake in shares of Hormel Foods by 94.7% in the second quarter. Shell Asset Management Co. now owns 47,390 shares of the company's stock valued at $1,434,000 after acquiring an additional 23,046 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Hormel Foods by 12.0% in the first quarter. Principal Financial Group Inc. now owns 452,925 shares of the company's stock valued at $14,014,000 after acquiring an additional 48,657 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Hormel Foods by 180.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 89,025 shares of the company's stock valued at $2,737,000 after acquiring an additional 57,280 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Hormel Foods by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,123,392 shares of the company's stock valued at $65,698,000 after acquiring an additional 52,736 shares during the last quarter. Institutional investors own 40.99% of the company's stock.

Analyst Upgrades and Downgrades

HRL has been the subject of a number of research analyst reports. 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 note on Friday, August 29th. Weiss Ratings restated a "sell (d+)" rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Barclays restated an "overweight" rating and issued a $34.00 price objective (down previously from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. Zacks Research cut shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Finally, The Goldman Sachs Group dropped their price objective 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. Four research analysts have rated the stock with a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $30.88.

Hormel Foods Stock Performance

Shares of Hormel Foods stock opened at $24.05 on Friday. The firm has a fifty day moving average of $25.72 and a two-hundred day moving average of $28.47. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 17.56, a PEG ratio of 5.36 and a beta of 0.29. Hormel Foods Corporation has a 52 week low of $23.13 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 issued its earnings results on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing the consensus estimate 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 net margin of 6.26% and a return on equity of 10.06%. The business's revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 EPS. 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 predict that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Shareholders 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 annualized dividend and a dividend yield of 4.8%. Hormel Foods's 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.

Want to see what other hedge funds are holding HRL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hormel Foods Corporation (NYSE:HRL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.