AXQ Capital LP Takes Position in Hormel Foods Corporation $HRL

AXQ Capital LP purchased a new stake in shares of Hormel Foods Corporation (NYSE:HRL) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 39,149 shares of the company’s stock, valued at approximately $928,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of HRL. Invesco Ltd. increased its position in shares of Hormel Foods by 66.5% during the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock valued at $280,352,000 after buying an additional 4,526,167 shares during the period. Norges Bank bought a new position in shares of Hormel Foods in the fourth quarter worth approximately $85,840,000. Victory Capital Management Inc. increased its position in shares of Hormel Foods by 297.6% in the third quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock worth $103,815,000 after purchasing an additional 3,142,670 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Hormel Foods by 126.2% in the third quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company’s stock worth $78,538,000 after purchasing an additional 1,770,852 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Hormel Foods by 97.1% in the third quarter. Barclays PLC now owns 2,010,924 shares of the company’s stock worth $49,750,000 after purchasing an additional 990,861 shares during the last quarter. 40.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HRL has been the topic of several research analyst reports. Bank of America upped their price objective on shares of Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $23.00 price objective (down from $28.00) on shares of Hormel Foods in a research report on Thursday, April 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 price objective on shares of Hormel Foods in a research report on Thursday, May 21st. Finally, Stephens upped their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Two 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’s stock. According to MarketBeat, Hormel Foods has an average rating of “Hold” and a consensus price target of $25.67.

Hormel Foods Stock Down 0.1%

Shares of HRL opened at $23.33 on Wednesday. The firm has a market cap of $12.84 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.69 and a beta of 0.35. The stock has a 50 day simple moving average of $21.43 and a two-hundred day simple moving average of $22.98. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 0.97. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $31.86.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.05. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.Hormel Foods’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, analysts forecast that Hormel Foods Corporation will post 1.49 earnings per share for the current fiscal year.

Hormel Foods Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a dividend of $0.2925 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, July 13th. Hormel Foods’s dividend payout ratio is 137.65%.

Hormel Foods 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.