Hormel Foods Corporation $HRL Stock Holdings Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 3.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 990,265 shares of the company’s stock after acquiring an additional 30,956 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.18% of Hormel Foods worth $24,499,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Hormel Foods by 2.2% during the second quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock valued at $1,115,194,000 after purchasing an additional 805,449 shares during the last quarter. State Street Corp raised its holdings in Hormel Foods by 1.3% during the 2nd quarter. State Street Corp now owns 28,068,704 shares of the company’s stock worth $849,078,000 after buying an additional 354,340 shares during the period. Geode Capital Management LLC lifted its position in shares of Hormel Foods by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,886,107 shares of the company’s stock valued at $237,589,000 after acquiring an additional 166,152 shares in the last quarter. Norges Bank acquired a new position in Hormel Foods in the 2nd quarter worth approximately $101,201,000. Finally, Holocene Advisors LP boosted its stake in Hormel Foods by 3.6% in the 2nd quarter. Holocene Advisors LP now owns 3,270,671 shares of the company’s stock worth $98,938,000 after purchasing an additional 114,509 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on HRL. The Goldman Sachs Group set a $27.00 target price on shares of Hormel Foods and gave the company a “buy” rating in a research note on Thursday, October 30th. Barclays set a $30.00 price target on Hormel Foods and gave the company an “overweight” rating in a research report on Tuesday, December 9th. Wall Street Zen raised Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $26.00 price objective (up from $25.00) on shares of Hormel Foods in a research report on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $28.29.

Hormel Foods Trading Down 1.9%

Shares of NYSE HRL opened at $24.24 on Friday. The business has a 50 day simple moving average of $23.39 and a 200 day simple moving average of $25.36. Hormel Foods Corporation has a 52 week low of $21.03 and a 52 week high of $32.07. The stock has a market cap of $13.33 billion, a price-to-earnings ratio of 27.86, a PEG ratio of 2.51 and a beta of 0.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, December 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.02. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.24 billion. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. On average, research analysts predict that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, January 12th will be issued a $0.2925 dividend. This is a boost from Hormel Foods’s previous quarterly dividend of $0.29. This represents a $1.17 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, January 12th. Hormel Foods’s dividend payout ratio is currently 134.48%.

Hormel Foods Company Profile

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.