Hormel Foods (NYSE:HRL) Price Target Raised to $25.00 at Bank of America

Hormel Foods (NYSE:HRL) had its price objective upped by Bank of America from $23.00 to $25.00 in a research report sent to investors on Friday morning,Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other analysts have also weighed in on HRL. Stephens increased their target price on Hormel Foods from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Friday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research note on Tuesday, April 21st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $23.00 target price (down from $28.00) on shares of Hormel Foods in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group set a $25.00 target price on Hormel Foods in a research note on Thursday, May 21st. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Hormel Foods has an average rating of “Hold” and a consensus price target of $25.67.

Hormel Foods Stock Performance

HRL stock opened at $23.26 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.94 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $21.41 and its two-hundred day simple moving average is $22.97. Hormel Foods has a twelve month low of $19.70 and a twelve month high of $31.86. The firm has a market cap of $12.80 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 3.13 and a beta of 0.33.

Hormel Foods (NYSE:HRL) last released its earnings results on Thursday, May 28th. The company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. Hormel Foods had a return on equity of 9.74% and a net margin of 3.82%.The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $2.96 billion. During the same quarter last year, the firm posted $0.35 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. Analysts predict that Hormel Foods will post 1.46 earnings per share for the current year.

Hormel Foods Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, July 13th will be paid a dividend of $0.2925 per share. The ex-dividend date is Monday, July 13th. This represents a $1.17 annualized dividend and a dividend yield of 5.0%. Hormel Foods’s dividend payout ratio (DPR) is currently 131.46%.

Hedge Funds Weigh In On Hormel Foods

Several institutional investors have recently made changes to their positions in HRL. Caxton Associates LLP purchased a new position in shares of Hormel Foods during the first quarter valued at $310,000. Empowered Funds LLC increased its stake in shares of Hormel Foods by 1.8% during the first quarter. Empowered Funds LLC now owns 57,500 shares of the company’s stock valued at $1,779,000 after buying an additional 993 shares during the period. Woodline Partners LP increased its stake in shares of Hormel Foods by 40.8% during the first quarter. Woodline Partners LP now owns 24,583 shares of the company’s stock valued at $761,000 after buying an additional 7,129 shares during the period. EverSource Wealth Advisors LLC grew its stake in Hormel Foods by 214.4% in the second quarter. EverSource Wealth Advisors LLC now owns 4,731 shares of the company’s stock valued at $143,000 after purchasing an additional 3,226 shares during the last quarter. Finally, Cerity Partners LLC grew its stake in Hormel Foods by 76.5% in the second quarter. Cerity Partners LLC now owns 103,616 shares of the company’s stock valued at $3,134,000 after purchasing an additional 44,906 shares during the last quarter. Hedge funds and other institutional investors own 40.99% of the company’s stock.

Trending Headlines about Hormel Foods

Here are the key news stories impacting Hormel Foods this week:

• Positive Sentiment: Hormel beat quarterly earnings and revenue expectations, with broad-based segment profit growth and stronger adjusted margins supporting the stock. Reuters article
• Positive Sentiment: Management reaffirmed full-year adjusted EPS guidance of $1.43 to $1.51, signaling confidence that the profit recovery can continue even after portfolio changes. PR Newswire release
• Positive Sentiment: Analysts responded by raising price targets to $25 from $22-$23, suggesting more upside is possible if the turnaround continues. Benzinga article
• Neutral Sentiment: Hormel updated GAAP EPS guidance lower due to items tied to the turkey business divestiture, but said the impact on adjusted earnings should be minimal.
• Neutral Sentiment: Some reports noted that profit was lower year over year, even though results still came in ahead of expectations and showed operational improvement. WSJ article

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.