JPMorgan Chase & Co. Cuts Hormel Foods (NYSE:HRL) Price Target to $27.00

Hormel Foods (NYSE:HRL) had its price objective trimmed by JPMorgan Chase & Co. from $30.00 to $27.00 in a research report report published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Zacks Research cut 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 research report on Friday, August 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of Hormel Foods in a research report on Wednesday, October 8th. The Goldman Sachs Group set a $27.00 price objective on shares of Hormel Foods and gave the company a “buy” rating in a research note on Thursday, October 30th. Finally, Bank of America dropped their price objective on Hormel Foods from $35.00 to $28.00 and set a “neutral” rating for the company in a research note on Friday, August 29th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $28.86.

Hormel Foods Price Performance

Shares of NYSE:HRL opened at $22.67 on Friday. The company has a market cap of $12.47 billion, a P/E ratio of 16.55, a price-to-earnings-growth ratio of 4.95 and a beta of 0.29. Hormel Foods has a 12-month low of $21.03 and a 12-month high of $33.80. 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 company’s fifty day moving average is $23.46 and its two-hundred day moving average is $27.14.

Hormel Foods (NYSE:HRL) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.The company’s revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 earnings per share. Hormel Foods has set its Q4 2025 guidance at 0.380-0.400 EPS. FY 2025 guidance at 1.430-1.450 EPS. Equities analysts expect that Hormel Foods will post 1.65 earnings per share for the current fiscal year.

Hormel Foods Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Shareholders of record on Tuesday, October 14th were paid a $0.29 dividend. The ex-dividend date of this dividend was Tuesday, October 14th. This represents a $1.16 annualized dividend and a yield of 5.1%. Hormel Foods’s dividend payout ratio is presently 84.67%.

Institutional Trading of Hormel Foods

A number of large investors have recently made changes to their positions in the company. Invesco Ltd. increased its holdings 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 worth $280,352,000 after acquiring an additional 4,526,167 shares in the last quarter. Norges Bank bought a new position in Hormel Foods in the second quarter valued at approximately $101,201,000. Victory Capital Management Inc. increased its holdings in Hormel Foods by 297.6% during the third quarter. Victory Capital Management Inc. now owns 4,198,564 shares of the company’s stock worth $103,815,000 after buying an additional 3,142,670 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Hormel Foods by 9,725.4% in the 1st quarter. Pacer Advisors Inc. now owns 2,335,797 shares of the company’s stock valued at $72,270,000 after purchasing an additional 2,312,024 shares during the last quarter. Finally, Two Sigma Investments LP boosted its stake in shares of Hormel Foods by 126.2% during the 3rd quarter. Two Sigma Investments LP now owns 3,174,553 shares of the company’s stock worth $78,538,000 after acquiring an additional 1,770,852 shares during the period. Institutional investors own 40.99% of the company’s stock.

About Hormel Foods

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.