California Public Employees Retirement System Has $32.11 Million Holdings in Hormel Foods Corporation $HRL

California Public Employees Retirement System lessened its stake in Hormel Foods Corporation (NYSE:HRL) by 17.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,061,354 shares of the company’s stock after selling 223,115 shares during the quarter. California Public Employees Retirement System owned about 0.19% of Hormel Foods worth $32,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Cromwell Holdings LLC increased its stake in shares of Hormel Foods by 162.7% in the 2nd quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock valued at $30,000 after acquiring an additional 620 shares during the last quarter. Quarry LP acquired a new position in Hormel Foods during the first quarter valued at approximately $41,000. Assetmark Inc. increased its stake in Hormel Foods by 1,490.7% in the second quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock valued at $47,000 after purchasing an additional 1,446 shares in the last quarter. Steward Partners Investment Advisory LLC increased its stake in Hormel Foods by 77.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,854 shares of the company’s stock valued at $56,000 after purchasing an additional 809 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its holdings in Hormel Foods by 436.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,086 shares of the company’s stock worth $63,000 after purchasing an additional 1,697 shares during the period. Institutional investors own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented 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. Piper Sandler restated a “neutral” rating and issued a $26.00 price target (up from $25.00) on shares of Hormel Foods in a report on Friday, December 5th. Barclays set a $30.00 price target on Hormel Foods and gave the stock an “overweight” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their price objective on Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 5th. Finally, Bank of America increased their target price on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $28.29.

Hormel Foods Price Performance

Shares of HRL opened at $23.72 on Thursday. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a twelve month low of $21.03 and a twelve month high of $33.80. The stock has a market capitalization of $13.05 billion, a P/E ratio of 27.27, a P/E/G ratio of 2.40 and a beta of 0.33. The company has a 50 day moving average of $23.13 and a 200-day moving average of $26.59.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, December 4th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. As a group, equities research analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders of record on Monday, January 12th will be issued a $0.2925 dividend. This represents a $1.17 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio is 133.33%.

Hormel Foods Company 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.