Assenagon Asset Management S.A. Has $415,000 Stake in Hormel Foods Corporation $HRL

Assenagon Asset Management S.A. trimmed its stake in Hormel Foods Corporation (NYSE:HRL) by 96.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 17,497 shares of the company’s stock after selling 422,790 shares during the period. Assenagon Asset Management S.A.’s holdings in Hormel Foods were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GoalVest Advisory LLC acquired a new stake in shares of Hormel Foods in the fourth quarter valued at $25,000. MUFG Securities EMEA plc acquired a new position in Hormel Foods during the 2nd quarter worth about $26,000. Caldwell Trust Co acquired a new position in Hormel Foods during the 2nd quarter worth about $30,000. Federated Hermes Inc. bought a new stake in Hormel Foods during the 3rd quarter worth about $31,000. Finally, Brown Brothers Harriman & Co. grew its holdings in Hormel Foods by 514.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after acquiring an additional 1,266 shares during the last quarter. 40.99% of the stock is owned by institutional investors.

Hormel Foods Price Performance

Shares of HRL stock opened at $22.04 on Thursday. Hormel Foods Corporation has a 12-month low of $21.03 and a 12-month high of $32.07. The firm has a market capitalization of $12.13 billion, a price-to-earnings ratio of 24.77, a price-to-earnings-growth ratio of 2.72 and a beta of 0.36. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. The firm has a fifty day moving average of $23.95 and a 200-day moving average of $23.70.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.07 billion. Hormel Foods had a return on equity of 9.38% and a net margin of 4.03%.The firm’s revenue was up 1.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, equities research analysts forecast that Hormel Foods Corporation will post 1.65 earnings per share for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Monday, April 13th will be given a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, April 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.3%. Hormel Foods’s dividend payout ratio (DPR) is currently 131.46%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HRL. Piper Sandler reaffirmed a “neutral” rating and issued a $26.00 target price (up from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, December 5th. Bank of America boosted their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Finally, Zacks Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a research report on Monday, December 29th. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $27.71.

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.