Geode Capital Management LLC Has $190.81 Million Stock Position in Hormel Foods Corporation $HRL

Geode Capital Management LLC increased its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,080,832 shares of the company’s stock after buying an additional 63,583 shares during the period. Geode Capital Management LLC owned 1.47% of Hormel Foods worth $190,805,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new position in Hormel Foods during the 4th quarter worth about $25,000. MUFG Securities EMEA plc acquired a new position in Hormel Foods during the 2nd quarter worth about $26,000. Federated Hermes Inc. acquired a new position in Hormel Foods during the 3rd quarter worth about $31,000. Brown Brothers Harriman & Co. lifted its position 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 buying an additional 1,266 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its position in Hormel Foods by 110.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,255 shares of the company’s stock worth $53,000 after buying an additional 1,186 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $23.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. The stock has a market cap of $12.74 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 2.69 and a beta of 0.35. The stock has a 50-day moving average of $21.47 and a 200-day moving average of $22.99. Hormel Foods Corporation has a one year low of $19.70 and a one year high of $31.86.

Hormel Foods (NYSE:HRL) last announced its quarterly 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. The company had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.Hormel Foods’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, sell-side analysts expect that Hormel Foods Corporation will post 1.49 earnings per share for the current year.

Hormel Foods Dividend Announcement

The business also recently declared 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. 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 5.1%. Hormel Foods’s dividend payout ratio is 137.65%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HRL. Stephens boosted their price objective on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. The Goldman Sachs Group set a $25.00 price objective on Hormel Foods in a report on Thursday, May 21st. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a report on Tuesday, April 21st. Bank of America boosted their price objective on Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Two research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.67.

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.