68,011 Shares in Hormel Foods Corporation $HRL Bought by Mirabella Financial Services LLP

Mirabella Financial Services LLP bought a new stake in Hormel Foods Corporation (NYSE:HRL) in the second quarter, HoldingsChannel reports. The institutional investor bought 68,011 shares of the company’s stock, valued at approximately $2,057,000.

Several other institutional investors also recently made changes to their positions in HRL. Cromwell Holdings LLC increased its holdings 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 purchasing an additional 620 shares in the last quarter. Quarry LP purchased a new position in Hormel Foods in the first quarter valued at about $41,000. Assetmark Inc. lifted its position in shares of Hormel Foods by 1,490.7% during the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock valued at $47,000 after acquiring an additional 1,446 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in shares of Hormel Foods by 77.4% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,854 shares of the company’s stock worth $56,000 after acquiring an additional 809 shares during the period. Finally, Parkside Financial Bank & Trust increased its position in shares of Hormel Foods by 436.2% in the second quarter. Parkside Financial Bank & Trust now owns 2,086 shares of the company’s stock valued at $63,000 after buying an additional 1,697 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on HRL shares. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a report on Wednesday, October 8th. Bank of America lowered their price target on Hormel Foods from $35.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Barclays reaffirmed an “overweight” rating and issued a $34.00 target price (down previously from $36.00) on shares of Hormel Foods in a research report on Friday, August 29th. Zacks Research lowered Hormel Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Finally, Piper Sandler decreased their price target on Hormel Foods from $26.00 to $25.00 and set a “neutral” rating for the company in a report on Thursday, November 6th. Three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average target price of $28.86.

Hormel Foods Stock Performance

Shares of HRL opened at $24.16 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.12. Hormel Foods Corporation has a 12-month low of $21.03 and a 12-month high of $33.80. The business’s fifty day moving average price is $23.20 and its 200 day moving average price is $26.78. The stock has a market capitalization of $13.29 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 5.34 and a beta of 0.33.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, December 4th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period last year, the company earned $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. Equities research analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, January 12th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, January 12th. This is an increase from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio is 84.67%.

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.