30,109 Shares in Hormel Foods Corporation $HRL Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC bought a new stake in Hormel Foods Corporation (NYSE:HRL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 30,109 shares of the company’s stock, valued at approximately $714,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Hormel Foods by 130.0% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 91,706 shares of the company’s stock valued at $2,269,000 after purchasing an additional 51,827 shares during the last quarter. Wealthfront Advisers LLC increased its stake in shares of Hormel Foods by 107.5% in the third quarter. Wealthfront Advisers LLC now owns 456,666 shares of the company’s stock worth $11,298,000 after purchasing an additional 236,637 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Hormel Foods by 11.2% in the third quarter. ProShare Advisors LLC now owns 5,769,398 shares of the company’s stock worth $142,735,000 after purchasing an additional 581,006 shares in the last quarter. Miller Howard Investments Inc. NY bought a new stake in shares of Hormel Foods in the third quarter valued at approximately $19,824,000. Finally, Vanguard Group Inc. raised its position in shares of Hormel Foods by 2.0% in the third quarter. Vanguard Group Inc. now owns 37,595,843 shares of the company’s stock valued at $930,121,000 after purchasing an additional 729,942 shares during the period. 40.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on HRL shares. Stephens raised their price objective on shares of Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a report on Friday, February 27th. Barclays set a $30.00 target price on shares of Hormel Foods and gave the company an “overweight” rating in a report on Tuesday, December 9th. Bank of America increased their target price on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. JPMorgan Chase & Co. raised their price target on Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Finally, Zacks Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $27.71.

Hormel Foods Price Performance

HRL stock opened at $22.04 on Thursday. The firm has a 50 day moving average of $23.95 and a 200-day moving average of $23.70. The firm has a market capitalization of $12.13 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 2.72 and a beta of 0.32. Hormel Foods Corporation has a 12 month low of $21.03 and a 12 month high of $32.07. The company has a current ratio of 2.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.02. The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.07 billion. Hormel Foods had a net margin of 4.03% and a return on equity of 9.38%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, sell-side analysts predict that Hormel Foods Corporation will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Monday, April 13th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a yield of 5.3%. The ex-dividend date is Monday, April 13th. 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.