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 and 4 hold ratings 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 Wall Street research analysts have issued 1 year target prices for Hormel Foods' stock. Their HRL share price forecasts range from $38.00 to $54.00. On average, they expect the company's share price to reach $43.71 in the next year. This suggests a possible upside of 7.6% from the stock's current price.
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Hormel Foods' stock was trading at $45.55 at the beginning of the year. Since then, HRL stock has decreased by 10.8% and is now trading at $40.63.
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Hormel Foods saw a increase in short interest in the month of May. As of May 15th, there was short interest totaling 12,150,000 shares, an increase of 10.4% from the April 30th total of 11,010,000 shares. Based on an average daily volume of 2,190,000 shares, the days-to-cover ratio is currently 5.5 days. Currently, 4.2% of the shares of the stock are short sold.
View Hormel Foods' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, September 7th 2023.
View our HRL earnings forecast.

Hormel Foods Co. (NYSE:HRL) released its quarterly earnings results on Thursday, June, 1st. The company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.01. The business had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.06 billion. Hormel Foods had a trailing twelve-month return on equity of 12.36% and a net margin of 7.61%. The business's revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.48 earnings per share.
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Hormel Foods announced a quarterly dividend on Monday, May 22nd. Stockholders of record on Monday, July 17th will be paid a dividend of $0.275 per share on Tuesday, August 15th. This represents a $1.10 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, July 14th.
Read our dividend analysis for HRL.

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

Hormel Foods (NYSE:HRL) pays an annual dividend of $1.10 per share and currently has a dividend yield of 2.70%. 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 64.33%. This payout ratio is at a healthy, sustainable level, below 75%. Based on earnings estimates, HRL will have a dividend payout ratio of 59.14% 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 payable to shareholders after the closing bell 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 issued an update on its FY 2023 earnings guidance on Sunday, June, 4th. The company provided earnings per share (EPS) guidance of $1.70-$1.82 for the period, compared to the consensus earnings per share estimate of $1.72. The company issued revenue guidance of $12.58 billion-$12.83 billion, compared to the consensus revenue estimate of $12.51 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 variety of institutional and retail investors. Top institutional investors include BlackRock Inc. (5.30%), State Street Corp (4.92%), Geode Capital Management LLC (1.15%), Principal Financial Group Inc. (0.97%), ProShare Advisors LLC (0.71%) and ProShare Advisors LLC (0.71%). Insiders that own company stock include Becerra Jose Luis Prado, 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 and Terrell K Crews.
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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 $40.63.

Hormel Foods (NYSE:HRL) has a market capitalization of $22.21 billion and generates $12.46 billion in revenue each year. The company earns $999.99 million in net income (profit) each year or $1.71 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.