Hormel Foods Corporation $HRL Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its holdings in Hormel Foods Corporation (NYSE:HRL) by 43.2% during the third quarter, Holdings Channel reports. The fund owned 94,096 shares of the company’s stock after buying an additional 28,405 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hormel Foods were worth $2,327,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Hormel Foods by 2.2% in the second quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock valued at $1,115,194,000 after purchasing an additional 805,449 shares during the last quarter. State Street Corp lifted its holdings in shares of Hormel Foods by 1.3% in the 2nd quarter. State Street Corp now owns 28,068,704 shares of the company’s stock valued at $849,078,000 after buying an additional 354,340 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Hormel Foods by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 7,886,107 shares of the company’s stock valued at $237,589,000 after buying an additional 166,152 shares during the period. Norges Bank purchased a new stake in shares of Hormel Foods in the second quarter worth about $101,201,000. Finally, Holocene Advisors LP grew its holdings in Hormel Foods by 3.6% during the second quarter. Holocene Advisors LP now owns 3,270,671 shares of the company’s stock worth $98,938,000 after acquiring an additional 114,509 shares during the period. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $24.47 on Thursday. The firm has a market cap of $13.46 billion, a PE ratio of 28.12, a PEG ratio of 2.38 and a beta of 0.33. The firm has a fifty day moving average of $23.29 and a 200 day moving average of $25.40. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47. Hormel Foods Corporation has a one year low of $21.03 and a one year high of $32.07.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, December 4th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.02. The business had revenue of $3.19 billion for the quarter, compared to analyst estimates of $3.24 billion. Hormel Foods had a net margin of 3.95% and a return on equity of 9.41%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. As a group, research analysts predict that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Increases Dividend

The company also recently disclosed 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 is an increase from Hormel Foods’s previous quarterly dividend of $0.29. The ex-dividend date is Monday, January 12th. This represents a $1.17 annualized dividend and a yield of 4.8%. Hormel Foods’s dividend payout ratio (DPR) is presently 134.48%.

Analyst Ratings Changes

HRL has been the subject of a number of analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a report on Wednesday, October 8th. Zacks Research upgraded shares of Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the stock a “buy” rating in a report on Thursday, October 30th. Barclays set a $30.00 price objective on shares of Hormel Foods and gave the company an “overweight” rating in a report on Tuesday, December 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $26.00 target price (up from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $28.29.

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.