US Bancorp DE Sells 15,025 Shares of Hormel Foods Corporation $HRL

Key Points

• US Bancorp DE reduced its stake in Hormel Foods by 2.6%, selling 15,025 shares and now holding 571,169 shares valued at approximately $17.3 million.
• Hormel Foods reported a quarterly EPS of $0.35, missing estimates by $0.06, while revenue increased by 4.6% year-over-year to $3.03 billion.
• The company announced a $0.29 quarterly dividend, representing a 4.9% annual yield, with an ex-dividend date on October 14th.

US Bancorp DE lessened its position in shares of Hormel Foods Corporation (NYSE:HRL - Free Report) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 571,169 shares of the company's stock after selling 15,025 shares during the quarter. US Bancorp DE owned about 0.10% of Hormel Foods worth $17,278,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in HRL. Farther Finance Advisors LLC lifted its stake in shares of Hormel Foods by 34.7% during the first quarter. Farther Finance Advisors LLC now owns 19,849 shares of the company's stock valued at $610,000 after acquiring an additional 5,115 shares during the period. SG Americas Securities LLC lifted its stake in shares of Hormel Foods by 84.6% during the first quarter. SG Americas Securities LLC now owns 24,285 shares of the company's stock valued at $751,000 after acquiring an additional 11,126 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Hormel Foods by 428.4% during the first quarter. Assenagon Asset Management S.A. now owns 184,920 shares of the company's stock valued at $5,721,000 after acquiring an additional 149,927 shares during the period. CX Institutional acquired a new position in shares of Hormel Foods during the first quarter valued at $221,000. Finally, Sky Investment Group LLC acquired a new position in shares of Hormel Foods during the first quarter valued at $1,075,000. Institutional investors and hedge funds own 40.99% of the company's stock.

Analyst Ratings Changes

HRL has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research note on Friday, August 29th. Barclays reissued an "overweight" rating and issued a $34.00 target price (down previously from $36.00) on shares of Hormel Foods in a research note on Friday, August 29th. Weiss Ratings reissued a "sell (d+)" rating on shares of Hormel Foods in a research note on Wednesday. Zacks Research lowered Hormel Foods from a "hold" rating to a "strong sell" rating in a research note on Friday, August 29th. Finally, The Goldman Sachs Group cut their target price on Hormel Foods from $35.00 to $31.00 and set a "buy" rating on the stock in a research note on Friday, August 29th. Four analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $30.88.

Hormel Foods Trading Down 0.1%

NYSE HRL opened at $23.74 on Friday. The firm has a market cap of $13.06 billion, a P/E ratio of 17.33, a P/E/G ratio of 5.30 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 stock's 50-day moving average is $26.18 and its 200-day moving average is $28.71. Hormel Foods Corporation has a one year low of $23.68 and a one year high of $33.80.

Hormel Foods (NYSE:HRL - Get Free Report) last released its quarterly earnings results 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 analyst estimates of $2.98 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business earned $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. Sell-side analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Tuesday, October 14th will be given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Tuesday, October 14th. Hormel Foods's dividend payout ratio (DPR) is currently 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.

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.