Brokerages Set Hormel Foods Corporation (NYSE:HRL) Price Target at $28.29

Shares of Hormel Foods Corporation (NYSE:HRL) have been assigned a consensus rating of “Hold” from the ten brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $28.2857.

Several analysts recently commented on the company. Barclays set a $30.00 target price on Hormel Foods and gave the company an “overweight” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. Bank of America increased their price objective on shares of Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. Zacks Research downgraded shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research note on Friday, August 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Hormel Foods from $27.00 to $28.00 and gave the company an “overweight” rating in a research report on Friday, December 5th.

Institutional Investors Weigh In On Hormel Foods

Hedge funds have recently added to or reduced their stakes in the business. MUFG Securities EMEA plc acquired a new stake in shares of Hormel Foods during the 2nd quarter worth approximately $26,000. Caldwell Trust Co bought a new position in Hormel Foods during the second quarter worth $30,000. Cromwell Holdings LLC boosted its stake in Hormel Foods by 162.7% during 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 in the last quarter. Federated Hermes Inc. acquired a new stake in Hormel Foods in the third quarter worth $31,000. Finally, Quarry LP bought a new stake in Hormel Foods in the first quarter valued at $41,000. 40.99% of the stock is currently owned by institutional investors.

Hormel Foods Stock Performance

NYSE HRL opened at $24.09 on Friday. The company has a market capitalization of $13.25 billion, a price-to-earnings ratio of 27.69, a PEG ratio of 2.45 and a beta of 0.33. The company has a quick ratio of 1.20, a current ratio of 2.47 and a debt-to-equity ratio of 0.36. Hormel Foods has a twelve month low of $21.03 and a twelve month high of $32.07. The stock has a fifty day simple moving average of $23.11 and a 200 day simple moving average of $26.15.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, December 4th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.30 by $0.02. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.24 billion. Hormel Foods had a return on equity of 9.41% and a net margin of 3.95%.The business’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.42 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. Sell-side analysts expect that Hormel Foods will post 1.65 EPS for the current year.

Hormel Foods Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 17th. Investors of record on Monday, January 12th will be given a dividend of $0.2925 per share. This represents a $1.17 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, January 12th. This is a positive change from Hormel Foods’s previous quarterly dividend of $0.29. Hormel Foods’s dividend payout ratio is currently 133.33%.

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.