Hormel Foods Corporation

🇺🇸New York Stock Exchange
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Hormel Foods Corporation stock analysis HRL overview
Somewhat Bullish +45

Assenagon Asset Management S.A. Acquires 202,125 Shares of Hormel Foods ...

📈 Assenagon Asset Management S.A. increased its Hormel Foods stake by 1,155.2% in Q1, acquiring 202,125 shares for a total holding value of $4.97 million.

📊 Other institutional investors including Caxton Associates LLP and Woodline Partners LP also added to their positions during the first quarter.

💰 Hormel Foods reported Q1 EPS of $0.40, beating analyst estimates of $0.35 with revenue of $2.97 billion up 2.6% year-over-year.

📉 Analyst sentiment is mixed with a consensus 'Hold' rating and an average price target of $25.67, though JPMorgan Chase lowered its target to $23.00.

💵 The company declared a quarterly dividend of $0.2925 per share, resulting in an annualized yield of 4.5% for shareholders of record on July 13th.

📈 Hormel Foods trades at a P/E ratio of 30.92 with a market capitalization of $14.47 billion and a debt-to-equity ratio of 0.30.

Bullish Signals
  • Hormel Foods beat quarterly earnings estimates, reporting $0.40 EPS versus the consensus of $0.35.
  • Revenue for the quarter reached $2.97 billion, surpassing analyst expectations of $2.96 billion.
  • The company achieved a year-over-year revenue growth of 2.6% during the reported quarter.
  • Assenagon Asset Management S.A. dramatically increased its investment in the stock by over 1,100% in Q1.
  • Woodline Partners LP significantly lifted its position by 40.8%, adding 7,129 shares to its portfolio.
Risk Factors
  • Weiss Ratings maintains a 'sell (d+)' rating on Hormel Foods stock.
  • JPMorgan Chase lowered its price target from $28.00 to $23.00 in a recent research report.
  • The company's dividend payout ratio is high at 137.65%, indicating the dividend exceeds current earnings per share.
Full Analysis
Assenagon Asset Management S.A. significantly increased its position in Hormel Foods Corporation (NYSE:HRL) during the first quarter, acquiring an additional 202,125 shares to bring total holdings to 219,622 shares valued at $4.97 million. This represents a 1,155.2% growth in the firm's stake. Other institutional investors also adjusted their positions, with Caxton Associates LLP initiating a new stake worth approximately $310,000 and Woodline Partners LP increasing its holding by 40.8% to own 24,583 shares. Analyst sentiment regarding Hormel Foods remains mixed, with major firms issuing varied price targets and ratings. Stephens and Bank of America raised their price targets to $25.00 with neutral or equal weight ratings, while JPMorgan Chase lowered its target to $23.00. Weiss Ratings maintains a sell rating. The consensus rating is currently 'Hold' with an average price target of $25.67. Financially, Hormel Foods reported strong quarterly results for the quarter ended May 27th, beating earnings estimates with $0.40 EPS compared to a consensus of $0.35. Revenue reached $2.97 billion, slightly exceeding expectations and growing 2.6% year-over-year. The company maintains a market capitalization of $14.47 billion and recently declared a quarterly dividend of $0.2925 per share, payable on August 17th to shareholders of record on July 13th.