Grandfield & Dodd LLC Trims Stock Holdings in Hormel Foods Corporation $HRL

Grandfield & Dodd LLC reduced its stake in Hormel Foods Corporation (NYSE:HRL) by 2.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 962,199 shares of the company’s stock after selling 28,086 shares during the quarter. Hormel Foods comprises approximately 1.3% of Grandfield & Dodd LLC’s portfolio, making the stock its 26th biggest holding. Grandfield & Dodd LLC owned approximately 0.17% of Hormel Foods worth $22,804,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in shares of Hormel Foods by 2.0% in the third quarter. Vanguard Group Inc. now owns 37,595,843 shares of the company’s stock valued at $930,121,000 after acquiring an additional 729,942 shares in the last quarter. State Street Corp lifted its position in shares of Hormel Foods by 1.0% in the third quarter. State Street Corp now owns 28,338,645 shares of the company’s stock valued at $701,098,000 after acquiring an additional 269,941 shares in the last quarter. Invesco Ltd. lifted its position 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 valued at $280,352,000 after acquiring an additional 4,526,167 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hormel Foods by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 8,080,832 shares of the company’s stock valued at $190,805,000 after acquiring an additional 63,583 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Hormel Foods by 14.7% in the fourth quarter. ProShare Advisors LLC now owns 6,618,755 shares of the company’s stock valued at $156,864,000 after acquiring an additional 849,357 shares in the last quarter. 40.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. 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. Stephens upped 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. Bank of America upped their target price on Hormel Foods from $23.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday. Finally, The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Hormel Foods presently has a consensus rating of “Hold” and a consensus target price of $25.67.

Hormel Foods Stock Performance

Shares of NYSE:HRL opened at $23.26 on Friday. The firm has a market capitalization of $12.80 billion, a PE ratio of 27.36, a P/E/G ratio of 3.09 and a beta of 0.33. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.94 and a quick ratio of 1.37. The business has a 50-day moving average of $21.41 and a two-hundred day moving average of $22.97. Hormel Foods Corporation has a 12 month low of $19.70 and a 12 month high of $31.86.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.35 by $0.05. The company 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%.The firm’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.35 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, research analysts forecast that Hormel Foods Corporation will post 1.47 earnings per share for the current year.

Hormel Foods Dividend Announcement

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

Key Hormel Foods News

Here are the key news stories impacting Hormel Foods this week:

• Positive Sentiment: Hormel beat quarterly earnings and revenue expectations, with broad-based segment profit growth and stronger adjusted margins supporting the stock. Reuters article
• Positive Sentiment: Management reaffirmed full-year adjusted EPS guidance of $1.43 to $1.51, signaling confidence that the profit recovery can continue even after portfolio changes. PR Newswire release
• Positive Sentiment: Analysts responded by raising price targets to $25 from $22-$23, suggesting more upside is possible if the turnaround continues. Benzinga article
• Neutral Sentiment: Hormel updated GAAP EPS guidance lower due to items tied to the turkey business divestiture, but said the impact on adjusted earnings should be minimal.
• Neutral Sentiment: Some reports noted that profit was lower year over year, even though results still came in ahead of expectations and showed operational improvement. WSJ article

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.