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Today, Hormel Foods Corp (NYSE:HRL), a leading meat packing company trading at $28.73 near its 52-week low, disclosed its financial outcomes for the first quarter ended January 26, 2025. The announcement comes as five analysts have recently revised their earnings expectations downward, according to InvestingPro data. The earnings release was furnished as part of the company’s Form 8-K filing with the Securities and Exchange Commission.
The details of the financial performance were not specified in the provided data excerpt. The $15.77 billion market cap company has maintained strong dividend credentials, with 32 consecutive years of dividend increases and a current yield of 4.04%. The release of this information is a routine disclosure for public companies following the end of a financial quarter, which Hormel Foods has complied with as per regulatory requirements.
Investors and analysts typically scrutinize such reports to assess a company’s financial health, operational efficiency, and to forecast future performance. The earnings release can influence the company’s stock price as it provides insights into revenue, net income, earnings per share, and other key financial metrics.
Hormel Foods, headquartered in Austin, Minnesota, operates under the jurisdiction of Delaware, with a fiscal year ending on October 26. The company’s common stock is traded on the New York Stock Exchange under the ticker symbol HRL.
The 8-K filing, which includes the earnings release, is a mandatory document that publicly traded companies must file with the SEC to announce significant events that shareholders should know about. These events can range from financial results to leadership changes or mergers and acquisitions.
The information in this article is based on a press release statement, providing investors with the latest available data regarding Hormel Foods’ financial standing as of the date of the report. According to InvestingPro’s Fair Value analysis, the stock appears undervalued at current levels. The company’s performance is a point of interest for stakeholders and market watchers alike, contributing to the ongoing analysis of the food and meat packing industry’s economic landscape. For deeper insights into Hormel Foods’ valuation and 10+ additional ProTips, consider accessing the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Hormel Foods has been the focus of several key developments. Citi analyst Thomas Palmer has adjusted the price target for Hormel Foods to $35 while maintaining a Buy rating, ahead of the company’s earnings report for the first fiscal quarter of 2025. Palmer anticipates earnings per share slightly below consensus estimates but suggests potential upside if turkey prices rise. Meanwhile, CFRA has downgraded Hormel Foods from Hold to Sell, reducing the price target to $26, citing concerns over commodity markets and challenges with the Planters brand. CFRA also revised its earnings per share forecasts for 2025 and 2026 downward, reflecting these challenges.
Piper Sandler has maintained a Neutral rating on Hormel Foods, keeping the price target at $33, and has adjusted its earnings per share estimates for 2025 and 2026. The firm noted Hormel’s financial targets and T&M savings initiatives, which are expected to contribute significantly to net EBIT growth. Additionally, Hormel Foods announced executive changes, appointing Lynn Egner and Natosha Walsh to vice president roles in Foodservice and Retail sales, respectively. Lastly, shareholders approved the board, auditor, and executive pay at the recent annual meeting, reflecting confidence in the company’s governance despite some dissent on executive compensation.
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