Midwest Trust Co Purchases Shares of 380,500 Hormel Foods Corporation $HRL

Midwest Trust Co purchased a new position in Hormel Foods Corporation (NYSE:HRL) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 380,500 shares of the company’s stock, valued at approximately $11,510,000. Midwest Trust Co owned approximately 0.07% of Hormel Foods as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HRL. Revisor Wealth Management LLC increased its holdings in Hormel Foods by 3.3% in the 2nd quarter. Revisor Wealth Management LLC now owns 11,342 shares of the company’s stock worth $357,000 after acquiring an additional 360 shares in the last quarter. G&S Capital LLC boosted its position in shares of Hormel Foods by 2.6% in the second quarter. G&S Capital LLC now owns 15,914 shares of the company’s stock worth $481,000 after purchasing an additional 398 shares during the period. Voya Investment Management LLC boosted its position in shares of Hormel Foods by 0.6% in the first quarter. Voya Investment Management LLC now owns 87,438 shares of the company’s stock worth $2,705,000 after purchasing an additional 484 shares during the period. BTS Asset Management Inc. increased its stake in shares of Hormel Foods by 7.2% in the second quarter. BTS Asset Management Inc. now owns 7,544 shares of the company’s stock worth $228,000 after purchasing an additional 508 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Hormel Foods by 0.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 89,802 shares of the company’s stock valued at $2,717,000 after purchasing an additional 522 shares during the period. 40.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HRL shares. Zacks Research cut shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Bank of America lowered their price objective on Hormel Foods from $35.00 to $28.00 and set a “neutral” rating on the stock in a research report on Friday, August 29th. Piper Sandler dropped their price objective on Hormel Foods from $26.00 to $25.00 and set a “neutral” rating for the company in a research note on Thursday. The Goldman Sachs Group set a $27.00 target price on Hormel Foods and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Barclays reissued an “overweight” rating and issued a $34.00 price target (down from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $30.00.

Hormel Foods Price Performance

NYSE:HRL opened at $22.05 on Monday. The business’s 50-day moving average is $24.05 and its 200 day moving average is $27.64. Hormel Foods Corporation has a 12 month low of $21.03 and a 12 month high of $33.80. The company has a market capitalization of $12.12 billion, a P/E ratio of 16.09, a P/E/G ratio of 4.95 and a beta of 0.29. The company has a current ratio of 2.47, a quick ratio of 1.12 and a debt-to-equity ratio of 0.35.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, August 28th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.06). The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter 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. On average, equities research analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently declared 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 annualized dividend and a yield of 5.3%. The ex-dividend date is Tuesday, October 14th. Hormel Foods’s payout ratio 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.