Havemeyer Place LP Makes New Investment in Hormel Foods Corporation $HRL

Havemeyer Place LP bought a new position in shares of 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 74,215 shares of the company’s stock, valued at approximately $1,759,000.

A number of other institutional investors also recently made changes to their positions in HRL. Invesco Ltd. raised its holdings in shares of Hormel Foods by 66.5% in the third quarter. Invesco Ltd. now owns 11,331,941 shares of the company’s stock worth $280,352,000 after acquiring an additional 4,526,167 shares during the last quarter. Norges Bank purchased a new position in Hormel Foods during the fourth quarter worth about $85,840,000. Victory Capital Management Inc. increased its stake in Hormel Foods by 297.6% during the third quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock worth $103,815,000 after acquiring an additional 3,142,670 shares during the last quarter. Two Sigma Investments LP increased its stake in Hormel Foods by 126.2% during the third quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company’s stock worth $78,538,000 after acquiring an additional 1,770,852 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Hormel Foods by 189.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,414,341 shares of the company’s stock worth $57,220,000 after acquiring an additional 1,581,046 shares during the last quarter. 40.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Hormel Foods Price Performance

HRL stock opened at $23.66 on Friday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.97 and a current ratio of 1.94. Hormel Foods Corporation has a 1 year low of $19.70 and a 1 year high of $31.86. The firm has a market cap of $13.02 billion, a P/E ratio of 27.84, a price-to-earnings-growth ratio of 2.72 and a beta of 0.35. The stock has a 50-day simple moving average of $21.49 and a 200-day simple moving average of $23.00.

Hormel Foods (NYSE:HRL) last posted its earnings results on Thursday, May 28th. The company reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter 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. On average, equities analysts predict that Hormel Foods Corporation will post 1.5 earnings per share for the current fiscal 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 issued a $0.2925 dividend. The ex-dividend date of this dividend is Monday, July 13th. This represents a $1.17 dividend on an annualized basis and a yield of 4.9%. Hormel Foods’s dividend payout ratio is currently 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.