DNB Asset Management AS Acquires 194,399 Shares of Hormel Foods Corporation $HRL

DNB Asset Management AS boosted its holdings in Hormel Foods Corporation (NYSE:HRL) by 243.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 274,219 shares of the company’s stock after purchasing an additional 194,399 shares during the period. DNB Asset Management AS’s holdings in Hormel Foods were worth $6,499,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HRL. Caxton Associates LLP bought a new position in Hormel Foods in the first quarter valued at $310,000. Empowered Funds LLC grew its position in Hormel Foods by 1.8% in the first 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 in the last quarter. Woodline Partners LP grew its position in Hormel Foods by 40.8% in the first 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 in the last quarter. EverSource Wealth Advisors LLC grew its position in Hormel Foods by 214.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock valued at $143,000 after purchasing an additional 3,226 shares in the last quarter. Finally, Cerity Partners LLC grew its position in Hormel Foods by 76.5% in the second quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock valued at $3,134,000 after purchasing an additional 44,906 shares in the last quarter. Institutional investors own 40.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HRL. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Finally, Stephens lifted their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $27.00.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $20.39 on Tuesday. The business’s 50 day moving average price is $21.70 and its two-hundred day moving average price is $22.98. The company has a market cap of $11.22 billion, a PE ratio of 22.91, a price-to-earnings-growth ratio of 2.39 and a beta of 0.33. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $31.86.

Hormel Foods (NYSE:HRL) last announced 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 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 business’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 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, analysts predict that Hormel Foods Corporation will post 1.42 EPS for the current year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be issued a dividend of $0.2925 per share. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 5.7%. Hormel Foods’s payout ratio is presently 131.46%.

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.