Sumitomo Mitsui DS Asset Management Company Ltd Has $2.27 Million Stock Position in Hormel Foods Corporation $HRL

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Hormel Foods Corporation (NYSE:HRL) by 130.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 91,706 shares of the company’s stock after purchasing an additional 51,827 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Hormel Foods were worth $2,269,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new stake in shares of Hormel Foods during the second quarter worth approximately $26,000. Cromwell Holdings LLC increased its holdings in Hormel Foods by 162.7% during 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. Caldwell Trust Co bought a new position in Hormel Foods in the 2nd quarter valued at $30,000. Assetmark Inc. raised its position in Hormel Foods by 1,490.7% in the 2nd quarter. Assetmark Inc. now owns 1,543 shares of the company’s stock valued at $47,000 after purchasing an additional 1,446 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Hormel Foods by 77.4% in the second quarter. Steward Partners Investment Advisory LLC now owns 1,854 shares of the company’s stock worth $56,000 after purchasing an additional 809 shares in the last quarter. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Bank of America raised their target price on Hormel Foods from $25.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Hormel Foods from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Barclays set a $30.00 target price on shares of Hormel Foods and gave the stock an “overweight” rating in a research report on Tuesday, December 9th. Finally, The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the company a “buy” rating in a report on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $28.29.

Hormel Foods Stock Performance

Shares of NYSE:HRL opened at $23.47 on Wednesday. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.36. Hormel Foods Corporation has a 1-year low of $21.03 and a 1-year high of $32.07. The stock has a market capitalization of $12.91 billion, a P/E ratio of 26.97, a P/E/G ratio of 2.32 and a beta of 0.33. The business has a 50-day moving average price of $23.23 and a two-hundred day moving average price of $25.41.

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

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Shareholders of record on Monday, January 12th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 5.0%. The ex-dividend date is Monday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio is presently 134.48%.

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.