Hormel Foods (NYSE:HRL) Upgraded by Zacks Research to “Hold” Rating

Hormel Foods (NYSE:HRL) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

HRL has been the topic of several other research reports. JPMorgan Chase & Co. raised their target price on shares of Hormel Foods from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, December 5th. Piper Sandler reissued a “neutral” rating and issued a $26.00 price target (up previously from $25.00) on shares of Hormel Foods in a report on Friday, December 5th. 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a report on Wednesday, October 8th. Finally, Bank of America raised their target price on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Hormel Foods presently has an average rating of “Hold” and an average target price of $28.29.

Hormel Foods Stock Down 0.8%

HRL opened at $23.98 on Monday. The company has a market cap of $13.19 billion, a P/E ratio of 27.56, a P/E/G ratio of 2.45 and a beta of 0.33. The business’s 50-day moving average price is $23.14 and its 200-day moving average price is $25.91. The company has a current ratio of 2.47, a quick ratio of 1.20 and a debt-to-equity ratio of 0.36. Hormel Foods has a 12 month low of $21.03 and a 12 month high of $32.07.

Hormel Foods (NYSE:HRL) last issued its earnings results on Thursday, December 4th. The company reported $0.32 earnings per share 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 analysts’ expectations of $3.24 billion. Hormel Foods had a return on equity of 9.41% and a net margin of 3.95%.Hormel Foods’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.42 EPS. Hormel Foods has set its FY 2026 guidance at 1.430-1.51 EPS. On average, equities analysts expect that Hormel Foods will post 1.65 EPS for the current year.

Institutional Trading of Hormel Foods

Several large investors have recently bought and sold shares of the company. MUFG Securities EMEA plc purchased a new position in shares of Hormel Foods during the 2nd quarter worth approximately $26,000. Cromwell Holdings LLC boosted its position in shares of Hormel Foods by 162.7% during the second quarter. Cromwell Holdings LLC now owns 1,001 shares of the company’s stock valued at $30,000 after purchasing an additional 620 shares in the last quarter. Caldwell Trust Co purchased a new stake in Hormel Foods in the second quarter worth $30,000. Federated Hermes Inc. bought a new position in Hormel Foods in the third quarter worth $31,000. Finally, Brown Brothers Harriman & Co. lifted its position in Hormel Foods by 514.6% during the third quarter. Brown Brothers Harriman & Co. now owns 1,512 shares of the company’s stock valued at $37,000 after buying an additional 1,266 shares during the period. 40.99% of the stock is owned by institutional investors.

About Hormel Foods

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.