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Hormel Foods Corporation (NYSE:HRL) is included among the 15 Best DRIP Stocks to Own Right Now.
On November 6, Piper Sandler analyst Michael Lavery trimmed the firm’s price target on Hormel Foods Corporation (NYSE:HRL) from $26 to $25, while maintaining a Neutral rating on the stock, according to a report by The Fly. The revision follows the company’s updated outlook, which now calls for 2025 EPS to come in 8 to 9 cents below its earlier guidance of $1.43–$1.45.
The shortfall reflects several challenges, including the impact of highly pathogenic avian influenza (HPAI) on its poultry operations, a chicken recall in its Foodservice division, a fire at its nut butter facility, and persistent commodity cost pressures. The revised earnings outlook also excludes an expected impairment charge, which Piper Sandler anticipates will be adjusted out of results.
In other news, Hormel Foods Corporation (NYSE:HRL) announced a restructuring plan that includes cutting roughly 250 positions. The company said it will reduce its workforce through a voluntary early-retirement program, in addition to layoffs and the closure of certain open roles. The restructuring is projected to cost more than $20 million, covering pensions, severance, and other employee-related expenses, which will be recognized from the fourth quarter of fiscal 2025 through the first quarter of fiscal 2026.
Hormel Foods Corporation (NYSE:HRL) is a leading American food manufacturer that develops, processes, and markets a wide range of branded products, including meats, nut-based items, and other food products, serving both retail and foodservice customers.
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Disclosure: None.
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Hormel Foods to cut 250 corporate and sales roles as part of restructuring
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Post-Bulletin, Rochester, Minn.
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