Hormel Foods Corporation $HRL Shares Bought by Sound Income Strategies LLC

Sound Income Strategies LLC grew its stake in shares of Hormel Foods Corporation (NYSE:HRL) by 38,341.8% during the fourth quarter, HoldingsChannel reports. The firm owned 124,167 shares of the company’s stock after buying an additional 123,844 shares during the period. Sound Income Strategies LLC’s holdings in Hormel Foods were worth $3,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Caxton Associates LLP acquired a new position in shares of Hormel Foods in the first quarter worth about $310,000. Empowered Funds LLC lifted its stake in shares of Hormel Foods by 1.8% in the first quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock worth $1,779,000 after acquiring an additional 993 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Hormel Foods by 40.8% in the first quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock worth $761,000 after acquiring an additional 7,129 shares in the last quarter. American Century Companies Inc. lifted its stake in shares of Hormel Foods by 27.5% in the second quarter. American Century Companies Inc. now owns 132,000 shares of the company’s stock worth $3,993,000 after acquiring an additional 28,460 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of 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 acquiring an additional 809 shares in the last quarter. Institutional investors and hedge funds own 40.99% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on HRL shares. Zacks Research upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research note on Thursday, January 22nd. Stephens boosted their price target on Hormel Foods from $25.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Wall Street Zen upgraded Hormel Foods from a “sell” rating to a “hold” rating in a research note on Saturday, January 17th. Finally, Barclays set a $30.00 price target on Hormel Foods and gave the stock an “overweight” rating in a research note on Tuesday, December 9th. Three analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Hormel Foods presently has an average rating of “Hold” and a consensus price target of $27.71.

Hormel Foods Trading Down 1.8%

Shares of NYSE HRL opened at $21.46 on Wednesday. The stock’s 50 day moving average price is $23.72 and its two-hundred day moving average price is $23.61. Hormel Foods Corporation has a 52-week low of $21.03 and a 52-week high of $31.86. The stock has a market capitalization of $11.81 billion, a P/E ratio of 24.11, a PEG ratio of 2.66 and a beta of 0.36. The company has a quick ratio of 1.37, a current ratio of 2.66 and a debt-to-equity ratio of 0.36.

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

Hormel Foods Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Monday, April 13th will be paid a dividend of $0.2925 per share. The ex-dividend date is Monday, April 13th. This represents a $1.17 annualized dividend and a yield of 5.5%. Hormel Foods’s dividend payout ratio is presently 131.46%.

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.