Truist Financial Corp Has $1.23 Million Stock Position in Hormel Foods Corporation $HRL

Truist Financial Corp lowered its stake in Hormel Foods Corporation (NYSE:HRL) by 33.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,605 shares of the company’s stock after selling 20,542 shares during the period. Truist Financial Corp’s holdings in Hormel Foods were worth $1,228,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Revisor Wealth Management LLC raised its stake in Hormel Foods by 3.3% during the second quarter. Revisor Wealth Management LLC now owns 11,342 shares of the company’s stock worth $357,000 after buying an additional 360 shares during the last quarter. G&S Capital LLC raised its stake in Hormel Foods by 2.6% during the second quarter. G&S Capital LLC now owns 15,914 shares of the company’s stock worth $481,000 after buying an additional 398 shares during the last quarter. Simmons Bank raised its stake in Hormel Foods by 3.7% during the first quarter. Simmons Bank now owns 12,708 shares of the company’s stock worth $393,000 after buying an additional 448 shares during the last quarter. Blue Trust Inc. raised its stake in Hormel Foods by 17.1% during the first quarter. Blue Trust Inc. now owns 3,220 shares of the company’s stock worth $100,000 after buying an additional 471 shares during the last quarter. Finally, YANKCOM Partnership raised its stake in Hormel Foods by 18.5% during the first quarter. YANKCOM Partnership now owns 3,081 shares of the company’s stock worth $95,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Wall Street Analyst Weigh In

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 research note on Wednesday, October 8th. JPMorgan Chase & Co. reduced their price target on shares of Hormel Foods from $34.00 to $30.00 and set an “overweight” rating for the company in a report on Friday, August 29th. Zacks Research cut shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a report on Friday, August 29th. Bank of America reduced their price target on shares of Hormel Foods from $35.00 to $28.00 and set a “neutral” rating for the company in a report on Friday, August 29th. Finally, Barclays restated an “overweight” rating and issued a $34.00 price target (down from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Four research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $30.88.

Hormel Foods Stock Down 0.1%

Shares of NYSE HRL opened at $23.74 on Monday. The stock has a market capitalization of $13.06 billion, a P/E ratio of 17.33, a P/E/G ratio of 5.29 and a beta of 0.29. The company has a 50-day moving average price of $26.18 and a 200-day moving average price of $28.69. Hormel Foods Corporation has a 1 year low of $23.68 and a 1 year high of $33.80. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.47 and a quick ratio of 1.12.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. Hormel Foods had a net margin of 6.26% and a return on equity of 10.06%. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 earnings per share. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. On average, equities research analysts forecast that Hormel Foods Corporation will post 1.65 EPS for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Stockholders of record on Tuesday, October 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date is Tuesday, October 14th. Hormel Foods’s dividend payout ratio (DPR) is currently 84.67%.

About Hormel Foods

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.