Miller Howard Investments Inc. NY Purchases Shares of 801,302 Hormel Foods Corporation $HRL

Miller Howard Investments Inc. NY acquired a new position in Hormel Foods Corporation (NYSE:HRL) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 801,302 shares of the company’s stock, valued at approximately $19,824,000. Miller Howard Investments Inc. NY owned about 0.15% of Hormel Foods as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MUFG Securities EMEA plc purchased a new position in Hormel Foods during the 2nd quarter worth $26,000. Caldwell Trust Co purchased a new position in Hormel Foods in the 2nd quarter worth $30,000. Cromwell Holdings LLC lifted its position in Hormel Foods by 162.7% during the 2nd quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock worth $30,000 after acquiring an additional 620 shares during the period. Assetmark Inc. grew its stake in Hormel Foods by 1,490.7% during 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 increased its holdings 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 valued at $56,000 after purchasing an additional 809 shares during the period. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Stock Up 1.6%

Shares of HRL opened at $23.24 on Friday. The stock has a 50 day moving average price of $23.17 and a 200 day moving average price of $25.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.20 and a current ratio of 2.47. The stock has a market capitalization of $12.79 billion, a price-to-earnings ratio of 26.72, a PEG ratio of 2.36 and a beta of 0.33. Hormel Foods Corporation has a one year low of $21.03 and a one year high of $32.07.

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

Hormel Foods Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 17th. Stockholders 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 of this dividend is Monday, January 12th. This is a boost from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio is presently 133.33%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America increased their price target on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Hormel Foods in a report on Wednesday, October 8th. Piper Sandler reiterated a “neutral” rating and set a $26.00 price objective (up previously from $25.00) on shares of Hormel Foods in a research note on Friday, December 5th. Wall Street Zen lowered Hormel Foods from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Finally, JPMorgan Chase & Co. raised their price objective on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a research note on Friday, December 5th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Hormel Foods presently has an average rating of “Hold” and a consensus target price of $28.29.

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.