Associated Banc Corp Decreases Stock Position in Hormel Foods Corporation $HRL

Associated Banc Corp lowered its stake in Hormel Foods Corporation (NYSE:HRL) by 71.2% during the 4th quarter, Holdings Channel reports. The firm owned 10,000 shares of the company’s stock after selling 24,738 shares during the quarter. Associated Banc Corp’s holdings in Hormel Foods were worth $237,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HRL. Caxton Associates LLP purchased a new stake in shares of Hormel Foods during the 1st quarter valued at about $310,000. Empowered Funds LLC grew its holdings in Hormel Foods by 1.8% during the 1st quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after purchasing an additional 993 shares during the last quarter. Woodline Partners LP grew its holdings in Hormel Foods by 40.8% during the 1st quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock valued at $761,000 after purchasing an additional 7,129 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in Hormel Foods by 214.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock worth $143,000 after acquiring an additional 3,226 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Hormel Foods by 76.5% in the 2nd quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock worth $3,134,000 after acquiring an additional 44,906 shares in the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Stephens set a $22.00 target price on shares of Hormel Foods and gave the stock an “equal weight” rating in a research note on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. JPMorgan Chase & Co. restated a “neutral” rating and issued a $23.00 target price (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 report on Thursday. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Hormel Foods presently has an average rating of “Hold” and a consensus target price of $26.00.

Hormel Foods Stock Performance

NYSE HRL opened at $21.28 on Monday. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 23.91, a PEG ratio of 2.92 and a beta of 0.33. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $31.86. The company has a current ratio of 2.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $21.48 and a 200 day moving average of $22.97.

Hormel Foods (NYSE:HRL) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.07 billion. Hormel Foods had a return on equity of 9.38% and a net margin of 4.03%.Hormel Foods’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Sell-side analysts anticipate that Hormel Foods Corporation will post 1.41 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The business 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 dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.5%. Hormel Foods’s payout ratio is currently 131.46%.

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.