Hormel Foods - HRL Stock Forecast, Price & News

5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Hormel Foods in the last year. There are currently 1 sell rating, 3 hold ratings and 1 buy rating for the stock. The consensus among Wall Street analysts is that investors should "hold" HRL shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in HRL, but not buy additional shares or sell existing shares.
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5 equities research analysts have issued 1 year target prices for Hormel Foods' shares. Their HRL share price forecasts range from $38.00 to $54.00. On average, they anticipate the company's stock price to reach $44.71 in the next year. This suggests a possible upside of 14.7% from the stock's current price.
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Hormel Foods' stock was trading at $45.55 at the start of the year. Since then, HRL stock has decreased by 14.4% and is now trading at $38.97.
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Hormel Foods saw a increase in short interest in the month of March. As of March 15th, there was short interest totaling 10,000,000 shares, an increase of 9.8% from the February 28th total of 9,110,000 shares. Based on an average daily volume of 1,840,000 shares, the days-to-cover ratio is currently 5.4 days. Approximately 3.5% of the company's shares are sold short.
View Hormel Foods' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, June 1st 2023.
View our HRL earnings forecast.

Hormel Foods Co. (NYSE:HRL) posted its earnings results on Thursday, March, 2nd. The company reported $0.40 earnings per share for the quarter, missing analysts' consensus estimates of $0.45 by $0.05. The firm had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.08 billion. Hormel Foods had a net margin of 7.90% and a trailing twelve-month return on equity of 13.10%. Hormel Foods's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.44 earnings per share.

Hormel Foods announced a quarterly dividend on Monday, March 27th. Stockholders of record on Monday, April 17th will be paid a dividend of $0.275 per share on Monday, May 15th. This represents a $1.10 annualized dividend and a dividend yield of 2.82%.
Read our dividend analysis for HRL.

ETFs with the largest weight of Hormel Foods (NYSE:HRL) stock in their portfolio include First Trust Nasdaq Food & Beverage ETF (FTXG), Invesco S&P 500 Equal Weight Consumer Staples ETF (RHS), 2ndVote Life Neutral Plus ETF (LYFE), First Trust Consumer Staples AlphaDEX Fund (FXG), ProShares Russell US Dividend Growers ETF (TMDV), FT Cboe Vest S&P 500 Dividend Aristocrats Target Income ETF (KNG), ProShares S&P 500 Aristocrats ETF (NOBL) and First Trust Horizon Managed Volatility Domestic ETF (HUSV).

Hormel Foods (NYSE:HRL) pays an annual dividend of $1.10 per share and currently has a dividend yield of 2.85%. The company has been increasing its dividend for 57 consecutive years, indicating the company has a strong committment to maintain and grow its dividend. The dividend payout ratio is 61.45%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, HRL will have a dividend payout ratio of 57.29% next year. This indicates that the company will be able to sustain or increase its dividend.
Read our dividend analysis for HRL.

Shares of Hormel Foods split on Wednesday, February 10th 2016. The 2-1 split was announced on Wednesday, November 25th 2015. The newly created shares were issued to shareholders after the market closes on Tuesday, February 9th 2016. An investor that had 100 shares of stock prior to the split would have 200 shares after the split.

Hormel Foods updated its FY 2023 earnings guidance on Thursday, March, 2nd. The company provided EPS guidance of $1.70-$1.82 for the period, compared to the consensus EPS estimate of $1.89. The company issued revenue guidance of $12.58 billion-$12.83 billion, compared to the consensus revenue estimate of $12.75 billion.

104 employees have rated Hormel Foods Chief Executive Officer James P. Snee on Glassdoor.com. James P. Snee has an approval rating of 89% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other Hormel Foods investors own include Johnson & Johnson (JNJ), AT&T (T), AbbVie (ABBV), Procter & Gamble (PG), Walmart (WMT), Walt Disney (DIS), Exxon Mobil (XOM), Medtronic (MDT), NVIDIA (NVDA) and PepsiCo (PEP).

Hormel Foods trades on the New York Stock Exchange (NYSE) under the ticker symbol "HRL."

Hormel Foods' stock is owned by a number of retail and institutional investors. Top institutional shareholders include Geode Capital Management LLC (1.13%), Principal Financial Group Inc. (0.96%), Morgan Stanley (0.73%), ProShare Advisors LLC (0.67%), Renaissance Technologies LLC (0.55%) and First Trust Advisors LP (0.42%). Insiders that own company stock include Christopher J Policinski, Deanna T Brady, Elsa A Murano, Gary Jamison, Glenn R Leitch, James M Splinter, James N Sheehan, James P Snee, Jana L Haynes, Kevin L Myers, Lori J Marco, Luis G Marconi, Mark A Coffey, Patrick J Connor, Steven J Lykken, Susan K Nestegard, Swen Neufeldt, Terrell K Crews and Thomas R Day.
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Shares of HRL stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of HRL stock can currently be purchased for approximately $38.97.

Hormel Foods (NYSE:HRL) has a market capitalization of $21.30 billion and generates $12.46 billion in revenue each year. The company earns $999.99 million in net income (profit) each year or $1.79 on an earnings per share basis.

The company employs 20,000 workers across the globe.

Hormel Foods' mailing address is 1 HORMEL PL, AUSTIN MN, 55912. The official website for the company is www.hormelfoods.com. The company can be reached via phone at (507) 437-5611, via email at ir@hormel.com, or via fax at 507-437-5838.