Hormel Foods Corporation produces and markets various meat and food products to retail, foodservice, deli, and commercial customers in the United States and internationally. The company operates through four segments: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other. It offers various perishable meat products, including fresh meats, frozen items, refrigerated meal solutions, sausages, hams, guacamoles, and bacons; and shelf-stable products, such as canned luncheon meats, peanut butters, chilies, shelf-stable microwaveable meals, hashes, stews, meat spreads, flour and corn tortillas, salsas, tortilla chips, and other products. The company also provides turkey products; nutritional food products and supplements; dessert and drink mixes; and industrial gelatin products. It sells its products under the SKIPPY, SPAM, Hormel, Natural Choice, Applegate, Justin's, Jennie-O, Café H, Herdez, Black Label, Sadler's, Columbus, etc. brand names through sales personnel, as well as through independent brokers and distributors. The company was formerly known as Geo. A. Hormel & Company and changed its name to Hormel Foods Corporation in January 1995. Hormel Foods Corporation was founded in 1891 and is headquartered in Austin, Minnesota.
IPO Year:
Exchange: NYSE
Website: hormelfoods.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 10/21/2024 | $28.00 | Underperform | Exane BNP Paribas |
| 10/3/2024 | $31.00 | Equal-Weight | Stephens |
| 8/13/2024 | $33.00 → $37.00 | Neutral → Buy | Citigroup |
| 5/31/2024 | $28.00 → $29.00 | Underweight → Neutral | JP Morgan |
| 2/1/2024 | $31.00 | Neutral | Citigroup |
| 3/30/2023 | Buy → Hold | Argus | |
| 3/3/2023 | $47.00 → $38.00 | Neutral → Underweight | JP Morgan |
| 3/15/2022 | $44.00 | Neutral → Sell | Goldman |
| 3/10/2022 | $57.00 | Hold → Buy | Argus |
| 3/2/2022 | $46.00 → $48.00 | Neutral | JP Morgan |
AUSTIN, Minn., Oct. 24, 2024 /PRNewswire/ -- Hormel Foods Corporation, a Fortune 500 global branded food company, announced today that it was once again recognized by Vault as having one of the top 150 internship programs in the country. The company's award-winning summer internship program was recognized in the categories of Best Internships for Engineering; as well as Sales, Marketing and Communications. "We are honored to be recognized among the top 150 best internship programs in the nation," said Amy Sheehan, director of talent acquisition at Hormel Foods. "This year, we
Consumers can call, live chat on jennieo.com/hotline/ or text "TURKEY" to 73876 for advice on all thing's turkey WILLMAR, Minn., Oct. 17, 2024 /PRNewswire/ -- The makers of the JENNIE-O turkey brand, a category leader and one of the top turkey brands in the United States, announced today that the 1-800-TURKEYS hotline will be live for a 17th consecutive year, starting Nov. 1, for consumers seeking support with their holiday meal planning through to day-of preparations. Earlier this year, JENNIE-O® polled Americans in every state about their Thanksgiving preparation, must-haves
For a limited time, enjoy the boldly irresistible taste of HORMEL® Pepperoni in a fun, new shape AUSTIN, Minn., Oct. 10, 2024 /PRNewswire/ -- The makers of HORMEL® Pepperoni are excited to announce the launch of HORMEL® Pepperoni Confetti — a bold, innovative shape that brings even more irresistible flavor to your favorite dishes. This limited-time product is set to revolutionize pizza night and elevate snacks for every occasion. HORMEL® Pepperoni Confetti stands out with its unique ribbon shape, designed for even distribution across a pizza and allowing for maximum pepperoni
The latest holiday flavor is joined by a new holiday campaign, returning seasonal favorites, and a chance for fans to win $1,000 for both themselves and a charity of their choosing AUSTIN, Minn., Oct. 9, 2024 /PRNewswire/ -- 'Tis the season for snacking, and the makers of the PLANTERS® brand know a thing or two about the importance of the right mix of snacks for enjoying a flavorful holiday with friends and loved ones. This year, they're ushering in the start of the holiday season with a new, limited-edition flavor – Toasted Marshmallow Hot Chocolate Cashews, plus the return of fan-favorite holiday flavors and a new giveback program so everyone can join in the celebrations.
Makers of the authentic salsa brand immerse New Yorkers with an unforgettable experience filled with art, Mexican cuisine and the irresistible flavors of HERDEZ® salsa at Chelsea Market NEW YORK, Oct. 7, 2024 /PRNewswire/ -- In honor of Hispanic Heritage Month, the makers of HERDEZ® salsa, the No. 1 selling salsa brand in Mexico, proudly announce the launch of House of Heritage, an immersive experience celebrating Hispanic heritage, culture and the art of dipping salsa on October 10, 2024, at Chelsea Market in New York City's Meatpacking District. The House of Heritage by th
A company dedicated to supporting food security efforts, Hormel Foods provided monetary and product donations totaling more than $450,000 to nonprofit partners in September AUSTIN, Minn., Oct. 7, 2024 /PRNewswire/ -- In recognition of Hunger Action Month, Hormel Foods Corporation (NYSE:HRL) partnered with organizations across the United States to create a more food-secure world. Donations totaling more than $450,000 were made throughout the month of September through various programs and events. "As a global branded food company, we are dedicated to addressing food insecurity
Back by popular demand and available for a limited time, the makers of HORMEL® chili announce the return of the brand's hottest-ever chili variety AUSTIN, Minn., Oct. 3, 2024 /PRNewswire/ -- As temperatures begin to drop, the makers of HORMEL® Chili, America's No. 1 selling chili brand*, are once again heating up with the return of the limited-edition HORMEL® Ghost Reaper World's Hottest Chili with Beans. This fiery, seasonal-favorite combines classic chili with beans infused with two of the world's hottest peppers — ghost and Carolina — delivering an intensely satisfying experience unlike any other.
Company releases two new Charcuterie Trios, Craft Nuts and Tasting Board; reintroduces fan-favorite Secchi Salami at various retailers nationwide AUSTIN, Minn., Oct. 1, 2024 /PRNewswire/ -- The makers of COLUMBUS® Craft Meats have unveiled seven new products to elevate holiday entertaining and provide irresistible snacking options. From two new varieties of the popular COLUMBUS® Charcuterie Trios to a new version of the best-selling COLUMBUS® Charcuterie Tasting Board, this product lineup delivers a mix of category favorites in fresh formats, as well as new items to explore, such as COLUMBUSTM Craft Nuts. In addition, the brand is reintroducing COLUMBUS® Secchi Salame, a fan-favorite in the
A first-of-its-kind convenience product, patent-pending OVEN READY™ Thick Cut Bacon allows for effortless bacon preparation AUSTIN, Minn., Sept. 26, 2024 /PRNewswire/ -- The makers of HORMEL® BLACK LABEL® Bacon are committed to pushing the boundaries of bacon innovation, and today, the brand is once again revolutionizing the category with the launch of its latest patent-pending product: HORMEL® BLACK LABEL® OVEN READY™ Thick Cut Bacon with Oven Safe Tray. This first-of-its-kind product brings the convenience of fully cooked bacon while offering a mess-free, easy-to-prepare option for bacon lovers everywhere.
AUSTIN, Minn., Sept. 23, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its quarterly dividend on the common stock, authorized by the Board of Directors at 28.25 cents ($0.2825) a share on September 23, 2024, will be paid November 15, 2024, to stockholders of record at the close of business on October 15, 2024. The November 15 payment will be the 385th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend w
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John Ghingo, former president of Applegate, rejoining the company as her successor AUSTIN, Minn., Aug. 19, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE:HRL), a Fortune 500 global branded food company, today announces the retirement of Deanna Brady, executive vice president, Retail, at the end of the fiscal year on Oct. 27, 2024. During nearly three decades of distinguished service to Hormel Foods, she successfully led teams across both the foodservice and retail lines of business and served as a key architect of the company's results-driven, high-performing culture. The
Students from over 50 colleges and universities participate in the company's 10-week, award-winning internship program AUSTIN, Minn., May 29, 2024 /PRNewswire/ -- An internship with Hormel Foods isn't your typical summer job. In fact, the majority of these talented collegiates, who will hone their skills on everything from sales and food science to engineering and marketing, will very likely receive a full-time job offer to join the Fortune 500 global branded food company. Hormel Foods converts over 70% of its interns into full-time team members. This week Hormel Foods proudly
AUSTIN, Minn., May 9, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced that Colleen Batcheler has been appointed to the role of senior vice president, external affairs & general counsel. In this critical role, Batcheler will oversee the organization's global Legal and External Affairs function, including corporate governance and securities, M&A, intellectual property, litigation, labor and employment, and legislative and regulatory affairs. She will report directly to Jim Snee, chairman of the board, presiden
Company Names Chad Randick Successor AUSTIN, Minn., April 24, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced that Jeff Grev, vice president of legislative affairs, will be retiring after a 40-year career with the company. Chad Randick, director of strategy and current lead of the company's transformation and modernization initiative, will succeed Grev as vice president of legislative affairs. "I want to thank Jeff for his four decades of extraordinary service to our company. I'm grateful for his leadership,
Applications are now being accepted to join MR. PEANUT® and "shell-ebrate" with fans across the streets of America in the iconic NUTmobile AUSTIN, Minn., April 1, 2024 /PRNewswire/ -- If you've ever dreamed of traveling the country with MR. PEANUT® aboard his world-famous NUTmobile, listen up. The makers of the PLANTERS® brand have a once-in-a-lifetime opportunity to offer. The PLANTERS® brand team is in search of three team members — affectionately known as Peanutters — to chauffeur MR. PEANUT® across America. They'll travel in the one-of-a-kind, 26-foot-long NUTmobile, bring
AUSTIN, Minn., Feb. 1, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, announced the upcoming retirement of Mark Coffey, group vice president of supply chain. The company announced that Steve Lykken, group vice president of Jennie-O Turkey Store, will advance to group vice president of supply chain. In this role, Lykken will lead the company's One Supply Chain organization, including procurement, manufacturing, engineering, logistics, research and development, quality management and plant operations. "Mark has been a highly
Company names Darren Carter successor AUSTIN, Minn., Jan. 18, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE:HRL), a Fortune 500 global branded food company, announced the upcoming retirement of Pat Schwab, vice president of Retail Sales – East. The company announced that Darren Carter, vice president of sales strategy at Hormel Foods, will advance to vice president of Retail Sales – East, replacing Schwab in this role. Carter will oversee the sales functions for all retail customers throughout the Eastern half of the United States. "Pat has been a tremendous leader for o
Beloved Girl Scout Cookie™ flavors combine with delicious, creamy Skippy® peanut butter in 3 appetizing flavor variations AUSTIN, Minn., Sept. 28, 2023 /PRNewswire/ -- Delighting cookie and peanut-butter lovers everywhere, the makers of the Skippy® brand are proud to introduce three new variations of Skippy® P.B. Bites, all featuring Girl Scout Cookie™ inspired flavors. This portable, poppable snack offers a whole new indulgent taste experience for Girl Scout Cookie™ lovers that tastes like dipping those beloved cookies into a fresh jar of creamy Skippy® peanut butter, creating an irresistible treat that is sure to please. The new bite-size snacks come in three different flavors: Coconut Car
AUSTIN, Minn., July 12, 2023 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the appointment of Scott Aakre as group vice president and chief marketing officer of the Hormel Foods Retail business. The Retail business includes the company's portfolio of well-known and category-leading brands such as Planters®, Skippy®, Justin's®, Dinty Moore®, Hormel® chili, Corn Nuts®, Herdez® and Wholly®, as well as its iconic SPAM® brand, among others. Aakre will assume responsibility for continuing to evolve the company's brand portfolio to meet the changing needs of today's consumers, amplifying scale in snacking and entertaining, and growi
AUSTIN, Minn., July 12, 2023 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced the appointment of Lynn Egner as vice president of Retail sales - West. Egner will be responsible for the company's retail sales strategy and execution with the company's customers in the Western Region of the United States. Egner replaces Natosha Walsh, who was recently named vice president of marketing for Convenient Meals and Proteins in the company's Retail business. "Lynn has been instrumental in building valuable relationships with
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AUSTIN, Minn., Oct. 24, 2024 /PRNewswire/ -- Hormel Foods Corporation, a Fortune 500 global branded food company, announced today that it was once again recognized by Vault as having one of the top 150 internship programs in the country. The company's award-winning summer internship program was recognized in the categories of Best Internships for Engineering; as well as Sales, Marketing and Communications. "We are honored to be recognized among the top 150 best internship programs in the nation," said Amy Sheehan, director of talent acquisition at Hormel Foods. "This year, we
Consumers can call, live chat on jennieo.com/hotline/ or text "TURKEY" to 73876 for advice on all thing's turkey WILLMAR, Minn., Oct. 17, 2024 /PRNewswire/ -- The makers of the JENNIE-O turkey brand, a category leader and one of the top turkey brands in the United States, announced today that the 1-800-TURKEYS hotline will be live for a 17th consecutive year, starting Nov. 1, for consumers seeking support with their holiday meal planning through to day-of preparations. Earlier this year, JENNIE-O® polled Americans in every state about their Thanksgiving preparation, must-haves
For a limited time, enjoy the boldly irresistible taste of HORMEL® Pepperoni in a fun, new shape AUSTIN, Minn., Oct. 10, 2024 /PRNewswire/ -- The makers of HORMEL® Pepperoni are excited to announce the launch of HORMEL® Pepperoni Confetti — a bold, innovative shape that brings even more irresistible flavor to your favorite dishes. This limited-time product is set to revolutionize pizza night and elevate snacks for every occasion. HORMEL® Pepperoni Confetti stands out with its unique ribbon shape, designed for even distribution across a pizza and allowing for maximum pepperoni
The latest holiday flavor is joined by a new holiday campaign, returning seasonal favorites, and a chance for fans to win $1,000 for both themselves and a charity of their choosing AUSTIN, Minn., Oct. 9, 2024 /PRNewswire/ -- 'Tis the season for snacking, and the makers of the PLANTERS® brand know a thing or two about the importance of the right mix of snacks for enjoying a flavorful holiday with friends and loved ones. This year, they're ushering in the start of the holiday season with a new, limited-edition flavor – Toasted Marshmallow Hot Chocolate Cashews, plus the return of fan-favorite holiday flavors and a new giveback program so everyone can join in the celebrations.
A company dedicated to supporting food security efforts, Hormel Foods provided monetary and product donations totaling more than $450,000 to nonprofit partners in September AUSTIN, Minn., Oct. 7, 2024 /PRNewswire/ -- In recognition of Hunger Action Month, Hormel Foods Corporation (NYSE:HRL) partnered with organizations across the United States to create a more food-secure world. Donations totaling more than $450,000 were made throughout the month of September through various programs and events. "As a global branded food company, we are dedicated to addressing food insecurity
Back by popular demand and available for a limited time, the makers of HORMEL® chili announce the return of the brand's hottest-ever chili variety AUSTIN, Minn., Oct. 3, 2024 /PRNewswire/ -- As temperatures begin to drop, the makers of HORMEL® Chili, America's No. 1 selling chili brand*, are once again heating up with the return of the limited-edition HORMEL® Ghost Reaper World's Hottest Chili with Beans. This fiery, seasonal-favorite combines classic chili with beans infused with two of the world's hottest peppers — ghost and Carolina — delivering an intensely satisfying experience unlike any other.
Company releases two new Charcuterie Trios, Craft Nuts and Tasting Board; reintroduces fan-favorite Secchi Salami at various retailers nationwide AUSTIN, Minn., Oct. 1, 2024 /PRNewswire/ -- The makers of COLUMBUS® Craft Meats have unveiled seven new products to elevate holiday entertaining and provide irresistible snacking options. From two new varieties of the popular COLUMBUS® Charcuterie Trios to a new version of the best-selling COLUMBUS® Charcuterie Tasting Board, this product lineup delivers a mix of category favorites in fresh formats, as well as new items to explore, such as COLUMBUSTM Craft Nuts. In addition, the brand is reintroducing COLUMBUS® Secchi Salame, a fan-favorite in the
A first-of-its-kind convenience product, patent-pending OVEN READY™ Thick Cut Bacon allows for effortless bacon preparation AUSTIN, Minn., Sept. 26, 2024 /PRNewswire/ -- The makers of HORMEL® BLACK LABEL® Bacon are committed to pushing the boundaries of bacon innovation, and today, the brand is once again revolutionizing the category with the launch of its latest patent-pending product: HORMEL® BLACK LABEL® OVEN READY™ Thick Cut Bacon with Oven Safe Tray. This first-of-its-kind product brings the convenience of fully cooked bacon while offering a mess-free, easy-to-prepare option for bacon lovers everywhere.
AUSTIN, Minn., Sept. 23, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE: HRL), a Fortune 500 global branded food company, today announced its quarterly dividend on the common stock, authorized by the Board of Directors at 28.25 cents ($0.2825) a share on September 23, 2024, will be paid November 15, 2024, to stockholders of record at the close of business on October 15, 2024. The November 15 payment will be the 385th consecutive quarterly dividend paid by the company. Since becoming a public company in 1928, Hormel Foods Corporation has paid a regular quarterly dividend w
AUSTIN, Minn., Sept. 23, 2024 /PRNewswire/ -- Hormel Foods Corporation (NYSE:HRL), a Fortune 500 global branded food company, announced today that Debbra Schoneman, president of Piper Sandler Companies, has been elected to the Hormel Foods Board of Directors, effective September 21, 2024. "I am delighted to welcome Deb to the Hormel Foods board," said Jim Snee, chairman of the board, president and chief executive officer of Hormel Foods. "She has an impressive background and brings extensive expertise in finance and corporate development, which will be invaluable as we continu
Exane BNP Paribas initiated coverage of Hormel Foods with a rating of Underperform and set a new price target of $28.00
Stephens resumed coverage of Hormel Foods with a rating of Equal-Weight and set a new price target of $31.00
Citigroup upgraded Hormel Foods from Neutral to Buy and set a new price target of $37.00 from $33.00 previously
JP Morgan upgraded Hormel Foods from Underweight to Neutral and set a new price target of $29.00 from $28.00 previously
Citigroup initiated coverage of Hormel Foods with a rating of Neutral and set a new price target of $31.00
Argus downgraded Hormel Foods from Buy to Hold
JP Morgan downgraded Hormel Foods from Neutral to Underweight and set a new price target of $38.00 from $47.00 previously
Goldman downgraded Hormel Foods from Neutral to Sell and set a new price target of $44.00
Argus upgraded Hormel Foods from Hold to Buy and set a new price target of $57.00
JP Morgan reiterated coverage of Hormel Foods with a rating of Neutral and set a new price target of $48.00 from $46.00 previously
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Hormel Foods's (NYSE:HRL) short percent of float has risen 7.1% since its last report. The company recently reported that it has 9.11 million shares sold short, which is 1.66% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.93 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest is
Hormel Foods Corp (NYSE:HRL) reported mixed financial results for its second quarter last week. On May 30, the Austin, Minnesota-based company said second-quarter fiscal 2024 sales declined 3% year-over-year to $2.887 billion, missing the consensus of $2.967 billion. Adjusted EPS was 38 cents, down from 40 cents YoY and above the consensus of 36 cents, according to data from Benzinga Pro. Hormel revised its adjusted EPS expectation to $1.55 – $1.65 from $1.51 – $1.65, versus consensus of $1.58. On May 31, JPMorgan analyst Thomas Palmer upgraded Hormel Foods from Underweight to Neutral and raised the price target from $28 to $29. With the recent buzz around Hormel Foods, some inve
These ten large-cap stocks were the worst performers in the last week. Are they in your portfolio? MongoDB, Inc. (NASDAQ:MDB) shares tumbled 31.63% after the company issued weak Q2 and FY25 guidance. Analysts slashed the price target on the stock. Nutanix, Inc. (NASDAQ:NTNX) shares tumbled 22.56% following Q3 FY24 results. Several analysts boost their forecasts on the stock. DraftKings Inc. (NASDAQ:DKNG) shares decreased 14.82% after the Illinois Senate approved a 2025 budget that includes a sports betting tax hike. Salesforce, Inc. (NYSE:CRM) shares plummeted 13.94% after the company issued weak guidance for the second quarter. Several analysts slashed their price targets. S
Citigroup analyst Thomas Palmer maintains Hormel Foods (NYSE:HRL) with a Neutral and lowers the price target from $35 to $33.
Stephens & Co. analyst Ben Bienvenu reiterates Hormel Foods (NYSE:HRL) with a Equal-Weight and maintains $32 price target.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page. Piper Sandler analyst Brent Bracelin upgraded the rating for Asana, Inc. (NYSE:ASAN) from Underweight to Neutral, but slashed the price target from $18 to $16. Asana shares fell 4.9% to close at $13.13 on Thursday. See how other analysts view this stock. Piper Sandler analyst Stephen Scouten upgraded Independent Bank Group, Inc. (NASDAQ:IBTX) from Underweight to Overweight, while raising the price target from $38 to $58. Independent Bank shares rose 2.4% to settle at $45.98 on Thursday. See how oth
JP Morgan analyst Thomas Palmer upgrades Hormel Foods (NYSE:HRL) from Underweight to Neutral and raises the price target from $28 to $29.
The most oversold stocks in the consumer staples sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here's the latest list of major oversold players in this sector, having an RSI near or below 30. Molson Coors Beverage Company (NYSE:TAP) On May 22, Molson Coors Beverage Company announced the pricing of its public of
Wall Street experienced another decline on Thursday, with major large-cap indices affected by a downturn in the tech and communication services sectors. Investors shifted their focus to market areas that have underperformed compared to tech over the past year, such as small caps, real estate and solar stocks. In economic news, the second estimate of first-quarter GDP growth was revised down to 1.3% from the initial 1.6% estimate, driven by slower consumer spending growth. Inflation also saw a slight decrease. New York Fed President John Williams stated there is no immediate need to adjust monetary policy and expects inflation to continue its decline, reaching the 2% target by 2025.