Hormel Foods Corporation (NYSE:HRL) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Hormel Foods Corporation (NYSE:HRL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $33.00.

Several research firms have weighed in on HRL. Stephens reaffirmed an "equal weight" rating and set a $31.00 target price on shares of Hormel Foods in a research note on Thursday, May 22nd. JPMorgan Chase & Co. upgraded Hormel Foods from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $29.00 to $34.00 in a research note on Wednesday. BNP Paribas raised Hormel Foods from a "strong sell" rating to a "hold" rating in a report on Tuesday, May 27th. The Goldman Sachs Group initiated coverage on Hormel Foods in a research report on Monday, June 23rd. They set a "buy" rating and a $35.00 target price on the stock. Finally, BNP Paribas Exane raised Hormel Foods from an "underperform" rating to a "neutral" rating and set a $30.00 price objective for the company in a research note on Tuesday, May 27th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. MUFG Securities EMEA plc purchased a new stake in shares of Hormel Foods in the second quarter valued at about $26,000. Cromwell Holdings LLC lifted its position in shares of Hormel Foods by 162.7% in the 2nd quarter. Cromwell Holdings LLC now owns 1,001 shares of the company's stock valued at $30,000 after acquiring an additional 620 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Hormel Foods in the 1st quarter valued at $37,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Hormel Foods during the 1st quarter valued at about $38,000. Finally, Quarry LP acquired a new stake in shares of Hormel Foods during the 1st quarter worth approximately $41,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

Hormel Foods Trading Up 1.0%

HRL stock traded up $0.2750 during trading on Monday, reaching $28.9150. 1,262,924 shares of the stock were exchanged, compared to its average volume of 3,137,014. The business has a 50 day moving average price of $29.57 and a 200-day moving average price of $29.68. The firm has a market capitalization of $15.90 billion, a price-to-earnings ratio of 21.25, a P/E/G ratio of 3.23 and a beta of 0.31. Hormel Foods has a 1 year low of $27.59 and a 1 year high of $33.80. 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 (NYSE:HRL - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.35 EPS for the quarter, hitting analysts' consensus estimates of $0.35. Hormel Foods had a net margin of 6.27% and a return on equity of 10.20%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. Hormel Foods's quarterly revenue was up .3% on a year-over-year basis. Hormel Foods has set its FY 2025 guidance at 1.580-1.680 EPS. On average, research analysts predict that Hormel Foods will post 1.65 earnings per share for the current year.

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.