CIBC Asset Management Inc Increases Position in Hormel Foods Corporation $HRL

CIBC Asset Management Inc lifted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 49.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 82,817 shares of the company’s stock after buying an additional 27,564 shares during the period. CIBC Asset Management Inc’s holdings in Hormel Foods were worth $1,963,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. GoalVest Advisory LLC purchased a new position in Hormel Foods during the fourth quarter worth approximately $25,000. MUFG Securities EMEA plc purchased a new position in Hormel Foods during the second quarter worth approximately $26,000. Federated Hermes Inc. purchased a new position in Hormel Foods during the third quarter worth approximately $31,000. Brown Brothers Harriman & Co. raised its stake in Hormel Foods by 514.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after purchasing an additional 1,266 shares during the period. Finally, Global Retirement Partners LLC raised its stake in Hormel Foods by 110.9% during the fourth quarter. Global Retirement Partners LLC now owns 2,255 shares of the company’s stock worth $53,000 after purchasing an additional 1,186 shares during the period. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $23.68 on Tuesday. The company’s fifty day simple moving average is $21.51 and its 200-day simple moving average is $23.02. Hormel Foods Corporation has a 52 week low of $19.70 and a 52 week high of $31.86. The company has a current ratio of 1.94, a quick ratio of 0.97 and a debt-to-equity ratio of 0.30. The company has a market cap of $13.03 billion, a PE ratio of 27.85, a P/E/G ratio of 2.72 and a beta of 0.35.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 28th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $0.35 EPS. The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, equities research analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio (DPR) is currently 137.65%.

Analyst Upgrades and Downgrades

HRL has been the topic of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. Bank of America increased their price target on shares of Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a research note on Friday, May 29th. Stephens increased their price target on shares of Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. 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. Finally, The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a research note on Thursday, May 21st. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.67.

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.