ESOP · DOL Form 5500 · 2023

Hormel Foods Corporation ESOP

Data updated 2026-08-11

$432M
Total assets: 4,575
Participants: 97th
Percentile by assets: $94,399
Avg per participant

Official DOL plan name: Hormel Foods Corporation Joint Earnings Profit Sharing Trust · Sponsored by Hormel Foods Corporation · Minnesota · Manufacturing

$432M in assets, 4,575 participants

Hormel Foods Corporation's Hormel Foods Corporation Joint Earnings Profit Sharing Trust reported $432M in total assets and 4,575 participants in its 2023 DOL Form 5500 filing, ranking in the 97th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

97th percentile by assets (of 127,072 plans)
#17,851 in Manufacturing (18,722 peers)

Coverage in Minnesota

Hormel Foods Corporation Joint Earnings Profit Sharing Trust covers 4,575 participants in Minnesota, 4.1x the typical Minnesota plan (state average ~1,126 per filing). Assets: $432M.

$432M
total plan assets (2023 EOY): 4,575
covered participants: 97th
percentile by assets (of 127,072 plans): $94,399
avg assets per participant

The plan reported a net loss of $54M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Hormel Foods Corporation Joint Earnings Profit Sharing Trust reported net income fell from -$11M in the plan year 2022 filing to -$54M in the plan year 2023 filing.
Hormel Foods Corporation Joint Earnings Profit Sharing Trust end-of-year assets fell from $486M in the plan year 2022 filing to $432M in the plan year 2023 filing.
Hormel Foods Corporation Joint Earnings Profit Sharing Trust reported participants rose from 4,373 in the plan year 2022 filing to 4,575 in the plan year 2023 filing.

See the national 2023→2024 release diff →

State

Minnesota

Industry

Manufacturing

Participants vs Minnesota filers

In Minnesota, the average filing covers about 1,126 participants across 2,865 plans. Hormel Foods Corporation Joint Earnings Profit Sharing Trust reports 4,575 participants - 4.1x that state average ($432M EOY assets).

Minnesota filing particulars

Total Assets (Beginning of Year)	$486M
Net Assets (End of Year)	$432M
Net Income	-$54M
Employer EIN	410319970
Plan Effective Date	1955-10-31
Filing Status	FILING RECEIVED

Sponsor Plan History (Hormel Foods Corporation)

Total plan assets by year, all Hormel Foods Corporation plans on file

Year	Plans	Participants	Total Assets
2022	5	19,631	$2.9B
2023	5	24,731	$3.0B
2024	3	12,543	$1.8B

Nearby ESOP Plans in Minnesota

Peer ESOP plans, same state, same plan type, ranked by total assets.

Hormel Foods Corporation Joint Earnings Profit Sharing Trust vs. nearby ESOP plans in Minnesota, assets vs. participants

Andersen Corporation Employee Stock Ownership Plan $899M · 11,644
Kingdom Enterprises, Inc. Employee Stock Ownership Plan $498M · 789
Landscape Structures, Inc. Employee Stock Ownership Plan and Trust $432M · 446
Force America Inc. Employee Stock Ownership Plan $427M · 412
Polaris Inc. Employee Stock Ownership Plan $293M · 8,758

Compare Hormel Foods Corporation Joint Earnings … side-by-side with 3 peers →

Similar-Sized ESOP Plans Nationally

ESOP plans in other states closest to Hormel Foods Corporation Joint Earnings Profit Sharing Trust by total assets, not by location.

Je Dunn Employee Stock Ownership Plan and Trust (MO) $429M · 2,457
Ita Group Holdings, Inc. Employees' Stock Ownership Plan (IA) $428M · 771
Project Worldwide, Inc. Employee Stock Ownership Plan (MI) $436M · 1,173
Barr Brands International Amended and Restated Employee Stock Ownership Plan (TN) $427M · 401

Frequently Asked Questions

How did Hormel Foods Corporation Joint Earnings Profit Sharing Trust assets move in 2023? ▼

Hormel Foods Corporation Joint Earnings Profit Sharing Trust pulled back noticeably - down 11.2% during 2023, from $486M to $432M. Reported net income was -$54M.

How have Hormel Foods Corporation plan assets changed over time? ▼

Across 3 plan years on file (2022-2024), Hormel Foods Corporation's sponsor-wide assets declined 38.9%, from $2.9B to $1.8B.

Where does Hormel Foods Corporation Joint Earnings Profit Sharing Trust rank by assets among Form 5500 filers? ▼

Hormel Foods Corporation Joint Earnings Profit Sharing Trust ranks in the 97th percentile by end-of-year assets among 127,072 plans that reported assets for plan year 2023 (in the top 5% of all filed plans by assets).

Which ESOP plans are similar in size to Hormel Foods Corporation Joint Earnings Profit Sharing Trust? ▼

Among ESOP plans in other states, the closest by assets is Je Dunn Employee Stock Ownership Plan and Trust in MO ($429M, 2,457 participants).

Next read for Hormel Foods Corporation Joint Earnings …

Filing takeaways

Ways to act on Hormel Foods Corporation Joint Earnings Profit Sharing Trust's numbers.

By total assets, Hormel Foods Corporation Joint Earnings Profit Sharing Trust ranks in the top 5% of all filed plans by assets. See the largest plans
Compare it side-by-side against 3 similar ESOP plans in Minnesota. Compare plans
Hormel Foods Corporation's sponsor-wide assets have declined 38.9% since 2022 across 3 plan years on file. More Manufacturing plans

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 410319970.