Wealth Enhancement Advisory Services LLC Sells 27,317 Shares of Hormel Foods Corporation $HRL

Wealth Enhancement Advisory Services LLC trimmed its holdings in shares of Hormel Foods Corporation (NYSE:HRL) by 17.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,667 shares of the company’s stock after selling 27,317 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Hormel Foods were worth $3,064,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of HRL. Norges Bank bought a new stake in shares of Hormel Foods during the second quarter worth $101,201,000. Vanguard Group Inc. boosted its stake in Hormel Foods by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 36,865,901 shares of the company’s stock worth $1,115,194,000 after purchasing an additional 805,449 shares during the period. Miller Howard Investments Inc. NY bought a new position in Hormel Foods during the 3rd quarter worth about $19,824,000. AQR Capital Management LLC raised its stake in shares of Hormel Foods by 84.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,506,263 shares of the company’s stock valued at $45,564,000 after purchasing an additional 690,398 shares during the period. Finally, Amundi raised its stake in shares of Hormel Foods by 53.5% in the 2nd quarter. Amundi now owns 1,671,384 shares of the company’s stock valued at $51,495,000 after purchasing an additional 582,664 shares during the period. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

Shares of HRL stock opened at $24.59 on Thursday. The stock has a market cap of $13.52 billion, a P/E ratio of 28.26, a P/E/G ratio of 2.56 and a beta of 0.33. The company has a fifty day moving average price of $23.75 and a two-hundred day moving average price of $24.97. Hormel Foods Corporation has a one year low of $21.03 and a one year high of $32.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.47 and a quick ratio of 1.20.

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

Hormel Foods Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, January 12th will be issued a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s payout ratio is presently 134.48%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on HRL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a research report on Thursday, January 22nd. JPMorgan Chase & Co. upped their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, December 5th. Piper Sandler reiterated a “neutral” rating and issued a $26.00 price objective (up from $25.00) on shares of Hormel Foods in a report on Friday, December 5th. Bank of America boosted their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. 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 research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $28.29.

Hormel Foods Company Profile

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.