WealthPLAN Partners LLC Lowers Position in Hormel Foods Corporation $HRL

Key Points

• WealthPLAN Partners LLC has decreased its stake in Hormel Foods Corporation by 93.2%, reducing its holdings to 10,627 shares after selling 146,635 shares during the second quarter.
• The company reported earnings per share of $0.35 for the last quarter, which missed analysts' estimates by $0.06, although its revenue was up 4.6% year-over-year.
• Hormel Foods declared a quarterly dividend of $0.29 per share, which corresponds to an annualized yield of 4.9%, with the ex-dividend date set for October 14th.

WealthPLAN Partners LLC lessened its stake in Hormel Foods Corporation (NYSE:HRL - Free Report) by 93.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,627 shares of the company's stock after selling 146,635 shares during the quarter. WealthPLAN Partners LLC's holdings in Hormel Foods were worth $321,000 at the end of the most recent reporting period.

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

Hormel Foods Trading Up 0.4%

HRL stock opened at $23.74 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.35. Hormel Foods Corporation has a twelve month low of $23.13 and a twelve month high of $33.80. The stock has a market capitalization of $13.06 billion, a price-to-earnings ratio of 17.33, a price-to-earnings-growth ratio of 5.27 and a beta of 0.29. The firm's fifty day simple moving average is $25.81 and its two-hundred day simple moving average is $28.53.

Hormel Foods (NYSE:HRL - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.06). Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter last year, the firm earned $0.37 EPS. The company's revenue was up 4.6% on a year-over-year basis. 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, analysts anticipate that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Tuesday, October 14th will be issued a $0.29 dividend. The ex-dividend date is Tuesday, October 14th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. Hormel Foods's dividend payout ratio is presently 84.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research cut shares of Hormel Foods from a "hold" rating to a "strong sell" rating in a research report on Friday, August 29th. Barclays restated an "overweight" rating and issued a $34.00 price target (down previously from $36.00) on shares of Hormel Foods 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. JPMorgan Chase & Co. reduced their price target on shares of Hormel Foods from $34.00 to $30.00 and set an "overweight" rating on the stock in a research report on Friday, August 29th. Finally, Bank of America reduced their price target on shares of 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 research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $30.88.

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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