Hormel Foods (NYSE:HRL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Hormel Foods (NYSE:HRL) had its price target increased by JPMorgan Chase & Co. from $27.00 to $28.00 in a report issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 14.50% from the company’s previous close.

Several other equities research analysts have also issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and set a $26.00 target price on shares of Hormel Foods in a research report on Friday. Zacks Research lowered shares of Hormel Foods from a “hold” rating to a “strong sell” rating in a research report on Friday, August 29th. Bank of America lifted 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research note on Wednesday, October 8th. Finally, The Goldman Sachs Group set a $27.00 price target on shares of Hormel Foods and gave the stock a “buy” rating in a research note on Thursday, October 30th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.86.

Hormel Foods Stock Performance

Shares of Hormel Foods stock traded up $0.30 during mid-day trading on Friday, hitting $24.46. 1,084,991 shares of the stock were exchanged, compared to its average volume of 3,690,459. Hormel Foods has a 12 month low of $21.03 and a 12 month high of $33.80. The company has a 50-day simple moving average of $23.20 and a 200 day simple moving average of $26.78. The company has a market capitalization of $13.45 billion, a P/E ratio of 17.84, a P/E/G ratio of 5.34 and a beta of 0.33. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.12 and a current ratio of 2.47.

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, beating the consensus estimate of $0.30 by $0.02. The company had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.24 billion. Hormel Foods had a return on equity of 10.06% and a net margin of 6.26%.Hormel Foods’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.42 earnings per share. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. Sell-side analysts anticipate that Hormel Foods will post 1.65 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hormel Foods

Several hedge funds and other institutional investors have recently modified their holdings of HRL. Revisor Wealth Management LLC boosted its position in shares of Hormel Foods by 3.3% in the second quarter. Revisor Wealth Management LLC now owns 11,342 shares of the company’s stock valued at $357,000 after acquiring an additional 360 shares during the period. G&S Capital LLC lifted its stake in Hormel Foods by 2.6% in the 2nd quarter. G&S Capital LLC now owns 15,914 shares of the company’s stock worth $481,000 after purchasing an additional 398 shares in the last quarter. Voya Investment Management LLC lifted its stake in Hormel Foods by 0.6% in the 1st quarter. Voya Investment Management LLC now owns 87,438 shares of the company’s stock worth $2,705,000 after purchasing an additional 484 shares in the last quarter. Siemens Fonds Invest GmbH boosted its holdings in Hormel Foods by 3.8% in the 3rd quarter. Siemens Fonds Invest GmbH now owns 13,407 shares of the company’s stock valued at $332,000 after purchasing an additional 486 shares during the period. Finally, Mystic Asset Management Inc. grew its position in shares of Hormel Foods by 6.4% during the 3rd quarter. Mystic Asset Management Inc. now owns 8,300 shares of the company’s stock valued at $205,000 after purchasing an additional 500 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors.

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.