Bank of America Boosts Hormel Foods (NYSE:HRL) Price Target to $26.00

Hormel Foods (NYSE:HRL) had its price target hoisted by investment analysts at Bank of America from $25.00 to $26.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential upside of 7.64% from the stock’s previous close.

A number of other research analysts have also weighed in on HRL. The Goldman Sachs Group set a $27.00 price objective on Hormel Foods and gave the stock a “buy” rating in a report on Thursday, October 30th. Piper Sandler reaffirmed a “neutral” rating on shares of Hormel Foods in a research note on Friday. Zacks Research cut shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Barclays reissued an “overweight” rating and set a $34.00 price objective (down previously from $36.00) on shares of Hormel Foods in a report on Friday, August 29th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, Hormel Foods has a consensus rating of “Hold” and an average price target of $28.57.

Hormel Foods Trading Up 3.8%

NYSE HRL opened at $24.16 on Friday. The company has a quick ratio of 1.12, a current ratio of 2.47 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $13.29 billion, a P/E ratio of 17.63, a P/E/G ratio of 5.34 and a beta of 0.33. Hormel Foods has a 52-week low of $21.03 and a 52-week high of $33.80. The firm has a 50-day moving average price of $23.20 and a 200 day moving average price of $26.78.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, December 4th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.02. The company had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.24 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. Equities research analysts expect that Hormel Foods will post 1.65 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. MUFG Securities EMEA plc acquired a new stake in Hormel Foods during the 2nd quarter valued at $26,000. Cromwell Holdings LLC raised its holdings in shares of Hormel Foods by 162.7% in the second quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock worth $30,000 after acquiring an additional 620 shares during the last quarter. Caldwell Trust Co purchased a new stake in shares of Hormel Foods in the second quarter valued at $30,000. Federated Hermes Inc. acquired a new stake in shares of Hormel Foods during the third quarter valued at $31,000. Finally, Brown Brothers Harriman & Co. increased its position in Hormel Foods by 514.6% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock worth $37,000 after purchasing an additional 1,266 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.

Hormel Foods Company Profile

Hormel Foods Corporation develops, processes, and distributes various meat, nuts, and other food products to retail, foodservice, deli, and commercial customers in the United States and internationally. It operates through three segments: Retail, Foodservice, and International segments. The company provides various perishable products that include fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products comprising canned luncheon meats, nut butters, snack nuts, chili, shelf-stable microwaveable meals, hash, stews, tortillas, salsas, tortilla chips, nutritional food supplements, and others.