M&T Bank Corp Purchases Shares of 28,342 Hormel Foods Corporation $HRL

M&T Bank Corp purchased a new stake in Hormel Foods Corporation (NYSE:HRL) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 28,342 shares of the company’s stock, valued at approximately $671,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC lifted its stake in shares of Hormel Foods by 0.8% in the 4th 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. Siemens Fonds Invest GmbH raised its stake 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 buying an additional 486 shares during the period. Mystic Asset Management Inc. raised its stake in Hormel Foods by 6.4% during the 3rd quarter. Mystic Asset Management Inc. now owns 8,300 shares of the company’s stock worth $205,000 after buying an additional 500 shares during the period. Public Employees Retirement System of Ohio raised its stake in Hormel Foods by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 90,362 shares of the company’s stock worth $2,236,000 after buying an additional 560 shares during the period. Finally, Wilmington Savings Fund Society FSB raised its stake in Hormel Foods by 6.2% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 9,728 shares of the company’s stock worth $241,000 after buying an additional 567 shares during the period. 40.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Stephens upped their price target on Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $23.00 price target (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Wall Street Zen raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $27.00.

Hormel Foods Stock Performance

Shares of HRL opened at $20.17 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.37 and a current ratio of 2.66. The stock has a 50 day moving average price of $22.18 and a two-hundred day moving average price of $23.12. The firm has a market capitalization of $11.10 billion, a P/E ratio of 22.66, a P/E/G ratio of 2.48 and a beta of 0.33. Hormel Foods Corporation has a 52 week low of $19.89 and a 52 week high of $31.86.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 EPS for the quarter, topping analysts’ consensus estimates 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%.The company’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Equities analysts forecast that Hormel Foods Corporation will post 1.42 earnings per share 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 issued a $0.2925 dividend. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.17 annualized dividend and a dividend yield of 5.8%. Hormel Foods’s dividend payout ratio is currently 131.46%.

About Hormel Foods

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.