Frank Rimerman Advisors LLC Takes $714,000 Position in Hormel Foods Corporation $HRL

Frank Rimerman Advisors LLC bought a new position in shares of Hormel Foods Corporation (NYSE:HRL) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 30,109 shares of the company’s stock, valued at approximately $714,000.

Other hedge funds have also bought and sold shares of the company. Exchange Traded Concepts LLC raised its holdings in Hormel Foods by 0.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 55,180 shares of the company’s stock worth $1,308,000 after buying an additional 437 shares during the last quarter. Siemens Fonds Invest GmbH grew its holdings in shares of Hormel Foods by 3.8% during the third quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company’s stock valued at $332,000 after buying an additional 486 shares during the last quarter. Mystic Asset Management Inc. grew its holdings in shares of Hormel Foods by 6.4% during the third quarter. Mystic Asset Management Inc. now owns 8,300 shares of the company’s stock valued at $205,000 after buying an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Hormel Foods by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 90,362 shares of the company’s stock worth $2,236,000 after acquiring an additional 560 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its position in shares of Hormel Foods by 6.2% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,728 shares of the company’s stock worth $241,000 after acquiring an additional 567 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on HRL. Wall Street Zen upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. JPMorgan Chase & Co. increased their price objective on Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Zacks Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Monday, December 29th. Bank of America lifted their target price on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Finally, Stephens upped their price target on Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and a consensus price target of $27.71.

Hormel Foods Trading Down 2.7%

Shares of HRL stock opened at $22.04 on Thursday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.37 and a current ratio of 2.66. The company has a market capitalization of $12.13 billion, a price-to-earnings ratio of 24.77, a PEG ratio of 2.72 and a beta of 0.32. Hormel Foods Corporation has a 52-week low of $21.03 and a 52-week high of $32.07. The company has a 50-day simple moving average of $23.95 and a two-hundred day simple moving average of $23.70.

Hormel Foods (NYSE:HRL) last announced its 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 firm 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 company’s revenue was up 1.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Research analysts anticipate that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 13th will be paid a $0.2925 dividend. This represents a $1.17 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, April 13th. Hormel Foods’s dividend payout ratio is 131.46%.

Hormel Foods 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.