Summitry LLC Makes New $423,000 Investment in Hormel Foods Corporation $HRL

Summitry LLC acquired a new stake in Hormel Foods Corporation (NYSE:HRL) during the second quarter, Holdings Channel reports. The firm acquired 13,973 shares of the company’s stock, valued at approximately $423,000.

Several other hedge funds also recently made changes to their positions in the stock. Cerity Partners LLC grew its position in Hormel Foods by 3.7% in the first quarter. Cerity Partners LLC now owns 58,710 shares of the company’s stock worth $1,816,000 after acquiring an additional 2,093 shares in the last quarter. Victory Capital Management Inc. raised its stake in Hormel Foods by 22.2% in the first quarter. Victory Capital Management Inc. now owns 1,150,394 shares of the company’s stock worth $35,593,000 after buying an additional 208,883 shares in the last quarter. Forum Financial Management LP grew its stake in Hormel Foods by 18.1% in the first quarter. Forum Financial Management LP now owns 15,665 shares of the company’s stock worth $485,000 after purchasing an additional 2,405 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Hormel Foods in the 1st quarter worth about $38,000. Finally, Mystic Asset Management Inc. raised its stake in Hormel Foods by 15.0% during the first quarter. Mystic Asset Management Inc. now owns 7,650 shares of the company’s stock valued at $237,000 after buying an additional 1,000 shares during the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on HRL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Bank of America reduced their target price on shares of Hormel Foods from $35.00 to $28.00 and set a “neutral” rating on the stock in a report on Friday, August 29th. Barclays restated an “overweight” rating and issued a $34.00 target price (down previously from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Piper Sandler cut their price target on shares of Hormel Foods from $26.00 to $25.00 and set a “neutral” rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. reduced their price objective 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. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Hormel Foods has an average rating of “Hold” and an average target price of $30.00.

Hormel Foods Stock Performance

Hormel Foods stock opened at $22.64 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 2.47. The company has a market capitalization of $12.45 billion, a PE ratio of 16.52, a P/E/G ratio of 4.95 and a beta of 0.29. The company has a 50 day moving average price of $23.76 and a 200-day moving average price of $27.40. Hormel Foods Corporation has a fifty-two week low of $21.03 and a fifty-two week high of $33.80.

Hormel Foods (NYSE:HRL) last released its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS 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 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 quarter in the previous year, the business earned $0.37 earnings per share. 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 analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Investors of record on Tuesday, October 14th will be issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, October 14th. Hormel Foods’s payout ratio is presently 84.67%.

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.