Brokerages Set Hormel Foods Corporation (NYSE:HRL) PT at $32.86

Shares of Hormel Foods Corporation (NYSE:HRL) have been assigned a consensus recommendation of “Moderate Buy” from the eight analysts that are currently covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $33.00.

A number of analysts have issued reports on HRL shares. The Goldman Sachs Group started coverage on Hormel Foods in a research note on Monday, June 23rd. They issued a “buy” rating and a $35.00 target price for the company. BNP Paribas upgraded Hormel Foods from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 27th. BNP Paribas Exane upgraded Hormel Foods from an “underperform” rating to a “neutral” rating and set a $30.00 target price for the company in a report on Tuesday, May 27th. Stephens reaffirmed an “equal weight” rating and issued a $31.00 price target on shares of Hormel Foods in a research report on Thursday, May 22nd. Finally, JPMorgan Chase & Co. raised Hormel Foods from a “neutral” rating to an “overweight” rating and increased their price target for the company from $29.00 to $34.00 in a research report on Wednesday, August 20th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of HRL. MUFG Securities EMEA plc acquired a new position in shares of Hormel Foods in the second quarter valued at approximately $26,000. Cromwell Holdings LLC grew its holdings 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 during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Hormel Foods in the first quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Hormel Foods in the first quarter valued at $38,000. Finally, Quarry LP acquired a new stake in Hormel Foods in the first quarter valued at $41,000. Institutional investors and hedge funds own 40.99% of the company’s stock.

Hormel Foods Trading Up 1.1%

Hormel Foods stock opened at $29.2250 on Monday. The company has a current ratio of 2.47, a quick ratio of 1.17 and a debt-to-equity ratio of 0.35. Hormel Foods has a 12 month low of $27.59 and a 12 month high of $33.80. The stock’s 50 day simple moving average is $29.50 and its two-hundred day simple moving average is $29.68. The firm has a market cap of $16.07 billion, a PE ratio of 21.49, a P/E/G ratio of 3.33 and a beta of 0.31.

Hormel Foods (NYSE:HRL) last announced its earnings results on Thursday, May 29th. The company reported $0.35 earnings per share for the quarter, hitting the consensus estimate of $0.35. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. Hormel Foods had a return on equity of 10.20% and a net margin of 6.27%.The business’s quarterly revenue was up .3% on a year-over-year basis. During the same period in the prior year, the company posted $0.38 EPS. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. Analysts anticipate that Hormel Foods will post 1.65 earnings per share for the current year.

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.