Norges Bank Acquires New Holdings in Hormel Foods Corporation $HRL

Norges Bank acquired a new stake in Hormel Foods Corporation (NYSE:HRL) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,621,949 shares of the company’s stock, valued at approximately $85,840,000. Norges Bank owned about 0.66% of Hormel Foods at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Eurizon Capital SGR S.p.A. bought a new position in Hormel Foods in the 4th quarter valued at approximately $607,000. Rothschild Investment LLC raised its holdings in Hormel Foods by 45.3% during the 4th quarter. Rothschild Investment LLC now owns 2,989 shares of the company’s stock worth $71,000 after purchasing an additional 932 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Hormel Foods by 12.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,326 shares of the company’s stock worth $1,240,000 after purchasing an additional 5,937 shares during the last quarter. CFS Investment Advisory Services LLC bought a new position in Hormel Foods during the 4th quarter worth approximately $246,000. Finally, Foundations Investment Advisors LLC bought a new position in Hormel Foods during the 4th quarter worth approximately $374,000. Institutional investors own 40.99% of the company’s stock.

Hormel Foods Stock Performance

NYSE:HRL opened at $23.66 on Friday. The company has a fifty day moving average of $21.49 and a 200-day moving average of $23.00. The firm has a market capitalization of $13.02 billion, a P/E ratio of 27.84, a P/E/G ratio of 2.68 and a beta of 0.35. The company has a quick ratio of 0.97, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. Hormel Foods Corporation has a twelve month low of $19.70 and a twelve month high of $31.86.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.05. Hormel Foods had a net margin of 3.82% and a return on equity of 9.74%. The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $2.96 billion. During the same quarter last year, the firm posted $0.35 EPS. Hormel Foods’s revenue was up 2.6% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, sell-side analysts anticipate that Hormel Foods Corporation will post 1.5 EPS for the current year.

Hormel Foods Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Monday, July 13th will be given a $0.2925 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 annualized dividend and a yield of 4.9%. Hormel Foods’s dividend payout ratio (DPR) is presently 137.65%.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Bank of America raised their price target on shares of Hormel Foods from $23.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a report on Tuesday, April 21st. The Goldman Sachs Group set a $25.00 price target on shares of Hormel Foods in a report on Thursday, May 21st. JPMorgan Chase & Co. restated a “neutral” rating and set a $23.00 price target (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Finally, Stephens raised their price target on shares of Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $25.67.

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.