CIBC Asset Management Inc Raises Stock Position in Hormel Foods Corporation $HRL

CIBC Asset Management Inc boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 49.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,817 shares of the company’s stock after purchasing an additional 27,564 shares during the period. CIBC Asset Management Inc’s holdings in Hormel Foods were worth $1,963,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. GoalVest Advisory LLC acquired a new stake in Hormel Foods during the 4th quarter valued at $25,000. MUFG Securities EMEA plc acquired a new stake in Hormel Foods during the 2nd quarter valued at $26,000. Federated Hermes Inc. acquired a new stake in Hormel Foods during the 3rd quarter valued at $31,000. Brown Brothers Harriman & Co. grew its holdings in Hormel Foods by 514.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock valued at $37,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Hormel Foods by 110.9% during the 4th quarter. Global Retirement Partners LLC now owns 2,255 shares of the company’s stock valued at $53,000 after purchasing an additional 1,186 shares in the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HRL shares. 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 report on Thursday, April 9th. Stephens raised their price target on shares of Hormel Foods from $22.00 to $25.00 and gave the company an “equal weight” rating in a report on Friday, May 29th. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a report on Thursday, May 21st. Bank of America raised their price target on shares of Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a report on Tuesday, April 21st. Two research 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’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.67.

Hormel Foods Price Performance

Shares of HRL stock opened at $23.68 on Tuesday. The firm has a market cap of $13.03 billion, a P/E ratio of 27.85, a P/E/G ratio of 2.72 and a beta of 0.35. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. Hormel Foods Corporation has a 1-year low of $19.70 and a 1-year high of $31.86. The firm has a fifty day moving average of $21.51 and a two-hundred day moving average of $23.02.

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

Hormel Foods Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Monday, July 13th will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a 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%.

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.