Hormel Foods (HRL)
Market Price (7/7/2026): $24.3 | Market Cap: $13.4 BilSector: Consumer Staples | Industry: Packaged Foods & Meats
Hormel Foods (HRL)
Market Price (7/7/2026): $24.3Market Cap: $13.4 BilSector: Consumer StaplesIndustry: Packaged Foods & Meats
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, Dividend Yield is 4.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.0%, FCF Yield is 5.2% Low stock price volatilityVol 12M is 30% Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Nutritional Supplements, Show more. | Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -103% | Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.1% Key risksHRL key risks include [1] losing market share to lower-cost private-label products as consumer preferences shift and [2] significant brand and financial damage from food contamination leading to product recalls. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 8.3%, Dividend Yield is 4.8%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 4.0%, FCF Yield is 5.2% |
| Low stock price volatilityVol 12M is 30% |
| Megatrend and thematic driversMegatrends include Health & Wellness Trends, and Vegan & Alternative Foods. Themes include Organic & Natural Products, Nutritional Supplements, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -51%, 3Y Excs Rtn is -103% |
| Weak revenue growthRev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -0.1% |
| Key risksHRL key risks include [1] losing market share to lower-cost private-label products as consumer preferences shift and [2] significant brand and financial damage from food contamination leading to product recalls. |
Qualitative Assessment
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Hormel Foods (HRL) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Hormel Foods (HRL) delivered strong fiscal Q2 2026 earnings, surpassing analyst expectations and reaffirming its full-year guidance.
The company reported adjusted diluted earnings per share (EPS) of $0.40 for its fiscal second quarter, which ended April 26, 2026, beating the analyst consensus estimate of $0.35 by 14.29%. This marked the sixth consecutive quarter of organic top-line growth and double-digit adjusted earnings growth. Management reaffirmed its full-year fiscal 2026 net sales guidance in the range of $12.2 billion to $12.5 billion, and adjusted diluted EPS guidance of $1.43 to $1.51, representing 4% to 10% growth.
2. Strategic portfolio optimization through key divestitures improved focus on value-added proteins.
Hormel Foods completed the divestiture of its whole-bird turkey business, a strategic move aimed at reducing exposure to volatile sectors and strengthening its focus on its value-added protein portfolio. Furthermore, on June 29, 2026, the company announced an agreement to sell its Brazilian operations, which operate under the Ceratti brand, to Zanchetta Alimentos LTDA. This divestiture is part of an initiative to streamline its international strategy and concentrate on markets with higher long-term growth opportunities, with a minimal expected impact on adjusted fiscal 2026 financial results.
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Hormel Foods (HRL) stock has gained about 10% since 3/31/2026 because of the following key factors:
1. Hormel Foods (HRL) delivered strong fiscal Q2 2026 earnings, surpassing analyst expectations and reaffirming its full-year guidance.
The company reported adjusted diluted earnings per share (EPS) of $0.40 for its fiscal second quarter, which ended April 26, 2026, beating the analyst consensus estimate of $0.35 by 14.29%. This marked the sixth consecutive quarter of organic top-line growth and double-digit adjusted earnings growth. Management reaffirmed its full-year fiscal 2026 net sales guidance in the range of $12.2 billion to $12.5 billion, and adjusted diluted EPS guidance of $1.43 to $1.51, representing 4% to 10% growth.
2. Strategic portfolio optimization through key divestitures improved focus on value-added proteins.
Hormel Foods completed the divestiture of its whole-bird turkey business, a strategic move aimed at reducing exposure to volatile sectors and strengthening its focus on its value-added protein portfolio. Furthermore, on June 29, 2026, the company announced an agreement to sell its Brazilian operations, which operate under the Ceratti brand, to Zanchetta Alimentos LTDA. This divestiture is part of an initiative to streamline its international strategy and concentrate on markets with higher long-term growth opportunities, with a minimal expected impact on adjusted fiscal 2026 financial results.
3. The company demonstrated improved financial performance through enhanced cash flow and margin expansion.
Hormel Foods showcased a significant improvement in its financial health, with operating cash flow surging 217% to $178.9 million in fiscal Q2 2026. This was complemented by expanded gross margins and an adjusted operating margin of 9.9% in the same quarter, indicating successful execution of initiatives designed to improve profitability and signaling a recovery from previous challenges.
4. Favorable macroeconomic trends in the broader food industry, particularly for beef, provided a tailwind.
The food industry benefited from a cautiously optimistic restaurant sector outlook for 2026, with projected real (inflation-adjusted) sales gains of 1.3%. More specifically, strong consumer demand for beef and veal is anticipated to drive price increases of 7.5% in 2026, positively impacting Hormel Foods' protein-centric product offerings.
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Stock Movement Drivers
Fundamental Drivers
The 8.7% change in HRL stock from 3/31/2026 to 7/6/2026 was primarily driven by a 14.0% change in the company's P/E Multiple.| (LTM values as of) | 3312026 | 7062026 | Change |
|---|---|---|---|
| Stock Price ($) | 22.33 | 24.28 | 8.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,145 | 12,218 | 0.6% |
| Net Income Margin (%) | 4.0% | 3.8% | -5.2% |
| P/E Multiple | 25.1 | 28.6 | 14.0% |
| Shares Outstanding (Mil) | 550 | 551 | 0.0% |
| Cumulative Contribution | 8.7% |
Market Drivers
3/31/2026 to 7/6/2026| Return | Correlation | |
|---|---|---|
| HRL | 8.7% | |
| Market (SPY) | 15.5% | -6.6% |
| Sector (XLP) | 2.6% | 41.1% |
Fundamental Drivers
The 5.2% change in HRL stock from 12/31/2025 to 7/6/2026 was primarily driven by a 7.8% change in the company's P/E Multiple.| (LTM values as of) | 12312025 | 7062026 | Change |
|---|---|---|---|
| Stock Price ($) | 23.07 | 24.28 | 5.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,106 | 12,218 | 0.9% |
| Net Income Margin (%) | 4.0% | 3.8% | -3.3% |
| P/E Multiple | 26.6 | 28.6 | 7.8% |
| Shares Outstanding (Mil) | 551 | 551 | 0.0% |
| Cumulative Contribution | 5.2% |
Market Drivers
12/31/2025 to 7/6/2026| Return | Correlation | |
|---|---|---|
| HRL | 5.2% | |
| Market (SPY) | 10.5% | -3.4% |
| Sector (XLP) | 8.9% | 46.5% |
Fundamental Drivers
The -15.7% change in HRL stock from 6/30/2025 to 7/6/2026 was primarily driven by a -39.0% change in the company's Net Income Margin (%).| (LTM values as of) | 6302025 | 7062026 | Change |
|---|---|---|---|
| Stock Price ($) | 28.81 | 24.28 | -15.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 11,924 | 12,218 | 2.5% |
| Net Income Margin (%) | 6.3% | 3.8% | -39.0% |
| P/E Multiple | 21.2 | 28.6 | 35.0% |
| Shares Outstanding (Mil) | 550 | 551 | -0.1% |
| Cumulative Contribution | -15.7% |
Market Drivers
6/30/2025 to 7/6/2026| Return | Correlation | |
|---|---|---|
| HRL | -15.7% | |
| Market (SPY) | 22.6% | -2.0% |
| Sector (XLP) | 6.0% | 47.8% |
Fundamental Drivers
The -32.0% change in HRL stock from 6/30/2023 to 7/6/2026 was primarily driven by a -49.8% change in the company's Net Income Margin (%).| (LTM values as of) | 6302023 | 7062026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.72 | 24.28 | -32.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 12,267 | 12,218 | -0.4% |
| Net Income Margin (%) | 7.6% | 3.8% | -49.8% |
| P/E Multiple | 20.9 | 28.6 | 37.0% |
| Shares Outstanding (Mil) | 546 | 551 | -0.8% |
| Cumulative Contribution | -32.0% |
Market Drivers
6/30/2023 to 7/6/2026| Return | Correlation | |
|---|---|---|
| HRL | -32.0% | |
| Market (SPY) | 75.5% | 5.1% |
| Sector (XLP) | 22.2% | 47.5% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| HRL Return | 7% | -5% | -27% | 1% | -21% | 8% | -36% |
| Peers Return | 11% | 14% | -16% | 0% | -20% | -6% | -20% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 9% | 99% |
Monthly Win Rates [3] | |||||||
| HRL Win Rate | 42% | 58% | 42% | 42% | 33% | 71% | |
| Peers Win Rate | 50% | 63% | 43% | 50% | 35% | 54% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 43% | |
Max Drawdowns [4] | |||||||
| HRL Max Drawdown | -19% | -18% | -33% | -19% | -31% | -22% | |
| Peers Max Drawdown | -18% | -20% | -30% | -17% | -28% | -26% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: TSN, KHC, CAG, GIS, CPB. See HRL Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/6/2026 (YTD)
How Low Can It Go
| Event | HRL | S&P 500 |
|---|---|---|
| 2020 COVID-19 Crash | ||
| % Loss | -17.3% | -33.7% |
| % Gain to Breakeven | 20.9% | 50.9% |
| Time to Breakeven | 5 days | 140 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -12.9% | -3.7% |
| % Gain to Breakeven | 14.8% | 3.9% |
| Time to Breakeven | 368 days | 6 days |
| 2011 US Debt Ceiling Crisis & European Contagion | ||
| % Loss | -13.0% | -17.9% |
| % Gain to Breakeven | 14.9% | 21.8% |
| Time to Breakeven | 274 days | 123 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.2% | -53.4% |
| % Gain to Breakeven | 61.9% | 114.4% |
| Time to Breakeven | 428 days | 1085 days |
| Summer 2007 Credit Crunch | ||
| % Loss | -14.9% | -8.6% |
| % Gain to Breakeven | 17.6% | 9.5% |
| Time to Breakeven | 106 days | 47 days |
In The Past
Hormel Foods's stock fell -0.6% during the 2025 US Tariff Shock. Such a loss loss requires a 0.6% gain to breakeven.
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| Event | HRL | S&P 500 |
|---|---|---|
| 2008-2009 Global Financial Crisis | ||
| % Loss | -38.2% | -53.4% |
| % Gain to Breakeven | 61.9% | 114.4% |
| Time to Breakeven | 428 days | 1085 days |
In The Past
Hormel Foods's stock fell -0.6% during the 2025 US Tariff Shock. Such a loss loss requires a 0.6% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Hormel Foods (HRL)
Hormel Foods Corporation (HRL) is a well-established global food company engaged in the development, processing, and distribution of a wide range of meat, nut, and other food products. The company operates through distinct segments including Grocery Products, Refrigerated Foods, Jennie-O Turkey Store, and International & Other, reflecting its comprehensive approach to the food industry.
Hormel's extensive product portfolio encompasses both perishable and shelf-stable items, featuring many prominent brands. Key offerings include fresh meats, refrigerated meal solutions, sausages, hams, and guacamoles. On the shelf-stable side, the company provides canned luncheon meats, nut butters, snack nuts, chilies, microwaveable meals, and salsas. Its well-known brands like SPAM, SKIPPY, Hormel, Natural Choice, Applegate, Jennie-O, Planters, and Wholly are central to its business.
The company serves a diverse customer base across various channels, including retail, foodservice, deli, and commercial clients. Hormel Foods distributes its products throughout the United States and internationally, ensuring its branded and unbranded food items are available to individual consumers through grocery stores, as well as to restaurants and other businesses in both domestic and global markets.
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Hormel Foods (HRL) is like a:
- Kraft Heinz, but with a portfolio leaning heavily into meat, poultry, and nut-based products, from SPAM to Skippy.
- General Mills that focuses more on refrigerated and shelf-stable meat and nut brands like Hormel, Jennie-O, and Planters.
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- Fresh and Refrigerated Foods: Hormel Foods offers a variety of perishable items including fresh meats, sausages, hams, bacons, and refrigerated meal solutions.
- Canned and Shelf-Stable Foods: The company produces shelf-stable items such as canned luncheon meats (SPAM), chilies, stews, and microwaveable meals.
- Nut Products: This category includes popular nut butters (SKIPPY, Justin's) and various snack nuts (Planters, Corn Nuts).
- Poultry Products: Hormel Foods specializes in branded and unbranded turkey products, prominently featuring the Jennie-O brand.
- Dips and Mexican Foods: Offerings include guacamoles (Wholly), salsas, tortillas, and tortilla chips (Herdez).
- Specialty Food & Gelatin: The company also provides nutritional food products, supplements, desserts, drink mixes, and industrial gelatin.
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Hormel Foods Corporation (HRL) sells primarily to other companies rather than directly to individual consumers. Based on the provided company description, its major customer categories are:
- Retail Customers: These include grocery stores, supermarkets, mass merchandisers, club stores, and convenience stores where consumers purchase Hormel's wide range of branded products such as SPAM, SKIPPY, Planters, and Jennie-O. Specific names of these retail chains are not provided in the company description.
- Foodservice Customers: This category encompasses restaurants, hotels, schools, hospitals, and other institutional and catering operations that use Hormel's products in their prepared meals and offerings.
- Deli Customers: This refers to establishments with deli counters, which could be standalone delis or those within larger retail stores, featuring products like Hormel Natural Choice, Applegate, and Columbus brand meats.
- Commercial Customers: This is a broader category that may include other food manufacturers (for ingredients), large institutions, or international distributors.
The company description does not list specific names of customer companies.
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Jeffrey M. Ettinger previously served as the president and chief executive officer of Hormel Foods from 2005 to 2016, a career spanning nearly three decades with the company in various roles including corporate attorney, treasurer, and president of Jennie-O Turkey Store, Inc.. He also served as the interim president of the University of Minnesota from 2023 to 2024 and currently chairs The Hormel Foundation. Ettinger has also served on the boards of The Toro Company and Ecolab Inc., including nearly six years as Ecolab's lead director.
John Ghingo, President
John Ghingo, promoted to president effective July 14, 2025, previously held the role of executive vice president for Retail at Hormel Foods. He brings 15 years of leadership experience from various roles at Mondelēz International and served as president of Applegate Farms, LLC, a Hormel Foods subsidiary, from 2018 through 2022.
Paul Kuehneman, Interim Chief Financial Officer and Controller
Paul Kuehneman was named interim chief financial officer and controller, effective October 27, 2025, and has over 30 years of experience with Hormel Foods. His career at Hormel Foods includes roles such as director of internal audit, vice president and chief financial officer for Jennie-O Turkey Store, assistant controller, and most recently, vice president and controller of Hormel Foods. He is responsible for the company's accounting, finance, treasury, and internal controls functions.
Jeff Baker, Group Vice President
Jeff Baker joined Hormel Foods in October 2015 and serves as Group Vice President.
PJ Connor, Group Vice President
PJ Connor serves as Group Vice President at Hormel Foods. He also holds the title of SVP of Sales, Consumer Products.
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The key risks to Hormel Foods (HRL) include disease outbreaks impacting its protein supply, evolving consumer preferences, and the volatility of input costs.
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Disease Outbreaks, particularly Avian Influenza (HPAI): Recurring outbreaks of avian influenza have significantly impacted Hormel's Jennie-O turkey business, leading to substantial supply gaps and increased costs. This risk can reduce production volumes in the company's turkey facilities and potentially increase disease risks due to changing climate or migratory patterns.
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Evolving Consumer Preferences and Competition: Hormel faces challenges from changing consumer dietary trends, including shifts towards lower-priced private-label products, plant-based alternatives, and a broader market concern that weight-loss drugs (GLP-1 threat) could lead to a decline in overall calorie consumption, particularly in snacking and processed meats. The company has experienced declining sales volumes in its retail segment, indicating a struggle to adapt to these shifts and intense competition.
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Input Cost Volatility and Supply Chain Disruptions: The company is susceptible to fluctuations in raw material costs, such as grain, lean hog, beef, and pork, as well as rising logistics expenses and tariffs. These volatilities and supply chain disruptions can compress margins and negatively impact profitability.
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The clear emerging threat to Hormel Foods is the accelerating shift in consumer preferences towards alternative protein sources, particularly plant-based meat alternatives and the nascent but growing development of cultivated (lab-grown) meat. As a company deeply rooted in traditional meat products (pork, beef, turkey, and processed meats like SPAM, sausages, and hams), the increasing availability, acceptance, and innovation in plant-based options directly challenge Hormel's core product portfolio and market share. This trend is analogous to the disruptive forces seen in other industries, where new technologies or product categories fundamentally alter market dynamics and consumer behavior, potentially diminishing the demand for established offerings.
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Hormel Foods Corporation (HRL) operates in several significant addressable markets for its diverse range of meat, nut, and food products.
Processed Meats
The global processed meat market was valued at approximately USD 707.98 billion in 2025 and is projected to reach USD 1,253.77 billion by 2034, growing at a compound annual growth rate (CAGR) of 6.62% during the forecast period. North America held the largest share of the global processed meat market in 2025, accounting for 41.36% or 49%. The U.S. processed meat market alone was valued at USD 128.28 billion in 2024 and is projected to reach around USD 235.60 billion by 2034, with a CAGR of 6.25% from 2025 to 2034.
Nut Butters and Snack Nuts
The global nut products market was estimated to be valued at USD 6.7 billion in 2022 and is projected to reach USD 8.9 billion by 2027, growing at a CAGR of 5.9%. Another source indicates the global nuts market size was valued at USD 23.42 billion in 2024 and is expected to reach USD 35.67 billion by 2032, at a CAGR of 5.5%. North America is expected to dominate the global nuts market, with the largest revenue share of 27.41% in 2025. Specifically, the U.S. nuts market size was valued at USD 10.39 billion in 2024 and is projected to grow to approximately USD 18.08 billion by 2034, exhibiting a CAGR of 5.70% from 2025 to 2034. The global nut butters market was valued at USD 4.3 billion in 2025 and is projected to reach USD 6.8 billion by the end of 2035, growing at a CAGR of 4.8%. The North America nut butters market is projected to grow from USD 1,110.0 million in 2024 to USD 1,725.0 million by 2035, at a CAGR of 4.09%.
Guacamole
The global guacamole market size was estimated at USD 309.0 million in 2023 and is expected to grow to USD 456.9 million by 2030, at a CAGR of 5.8%. Another estimate places the global guacamole market size at USD 1.4 billion in 2024, expected to reach USD 2.5 billion by 2033, exhibiting a CAGR of 7% from 2025 to 2033. North America dominated the global guacamole market with a market share of 40.63% in 2025. The U.S. guacamole market size was valued at USD 501.8 million in 2025 and is expected to reach USD 798.9 million by 2034, exhibiting a CAGR of 5.14% during 2026-2034.
Turkey Products
The global turkey meat market was valued at USD 13.16 billion in 2025 and is projected to reach USD 19.97 billion by 2034, growing at a CAGR of 4.74% from 2026-2034. The United States is the world's largest turkey producer and exporter of turkey products, with total turkey production tallied at 6.986 billion pounds in 2023.
Canned and Shelf-Stable Foods
The global canned food market size was estimated at USD 122.68 billion in 2023 and is projected to reach USD 154.72 billion by 2030, growing at a CAGR of 3.9% from 2024 to 2030. Europe dominated the canned food market with a revenue share of 37.7% in 2023. The U.S. canned food market size was valued at USD 32.96 billion in 2024 and is poised to grow to USD 52.46 billion by 2033, growing at a CAGR of 5.3% during the forecast period 2026–2033. Another source indicates the U.S. canned food market is expected to reach USD 41.0 billion by 2030, registering a CAGR of 5.5%.
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Share Repurchases
- Hormel Foods reported $0.0 for buyback per share for the last twelve months ending October 31, 2025.
- The company's annual share buybacks for 2023 were $12.303 million.
Share Issuance
- Hormel Foods' shares outstanding increased by 0.3% in 2025 to 0.55 billion, following a slight decline of 0.03% in 2024 and 0.11% in 2023.
- The company's 10-Year Share Buyback Ratio was -0.50% as of October 2025, which may indicate share issuance.
Outbound Investments
- In 2021, Hormel Foods acquired the Planters® snacking business for $3.35 billion, marking its largest acquisition and a strategic move into the snacking category.
- The company plans to sell its whole-bird turkey business to Life-Science Innovations by the end of the second quarter of fiscal 2026, aiming to focus on value-added protein products.
- Hormel Foods recognized a non-cash impairment charge of $234 million in fiscal 2025, primarily related to a minority investment in its International segment.
Capital Expenditures
- Capital expenditures totaled $311 million in fiscal 2025, an increase from $256 million in the prior year.
- Fiscal 2025 capital investments were focused on capacity expansions for Hormel® Fire Braised™ and Applegate® products, data and technology, safety initiatives, and the Jiaxing, China, facility.
- Hormel Foods anticipates capital expenditures to be in the range of $260 million to $290 million for fiscal 2026.
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 24.55 |
| Mkt Cap | 16.4 |
| Rev LTM | 15,295 |
| Op Inc LTM | 1,414 |
| FCF LTM | 1,034 |
| FCF 3Y Avg | 1,153 |
| CFO LTM | 1,690 |
| CFO 3Y Avg | 1,909 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | -2.3% |
| Rev Chg 3Y Avg | -1.3% |
| Rev Chg Q | -0.5% |
| QoQ Delta Rev Chg LTM | -0.1% |
| Op Inc Chg LTM | -11.7% |
| Op Inc Chg 3Y Avg | -1.5% |
| Op Mgn LTM | 11.7% |
| Op Mgn 3Y Avg | 13.4% |
| QoQ Delta Op Mgn LTM | -0.3% |
| CFO/Rev LTM | 11.1% |
| CFO/Rev 3Y Avg | 12.7% |
| FCF/Rev LTM | 7.1% |
| FCF/Rev 3Y Avg | 8.7% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 16.4 |
| P/S | 0.9 |
| P/Op Inc | 6.8 |
| P/EBIT | 9.9 |
| P/E | 9.9 |
| P/CFO | 7.5 |
| Total Yield | 8.9% |
| Dividend Yield | 5.8% |
| FCF Yield 3Y Avg | 7.5% |
| D/E | 0.7 |
| Net D/E | 0.6 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | 6.1% |
| 3M Rtn | 0.3% |
| 6M Rtn | -3.1% |
| 12M Rtn | -19.6% |
| 3Y Rtn | -36.8% |
| 1M Excs Rtn | 9.9% |
| 3M Excs Rtn | -13.1% |
| 6M Excs Rtn | -16.5% |
| 12M Excs Rtn | -41.5% |
| 3Y Excs Rtn | -108.7% |
Comparison Analyses
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|
| Perishable | 8,823 | 8,549 | 8,512 | 8,737 | 6,271 |
| Shelf-stable | 3,283 | 3,372 | 3,598 | 3,721 | 2,661 |
| Miscellaneous | 353 | ||||
| Poultry | 2,100 | ||||
| Total | 12,106 | 11,921 | 12,110 | 12,459 | 11,386 |
| $ Mil | 2015 | 2014 | 2008 | 2007 | 2006 |
|---|---|---|---|---|---|
| Refrigerated Foods | 425 | 338 | 212 | 174 | 133 |
| Jennie-O Turkey Store | 276 | 272 | 78 | ||
| Grocery Products | 229 | 195 | 149 | 141 | 138 |
| Specialty Foods | 93 | 72 | 70 | 61 | 49 |
| Intersegment elimination | 78 | ||||
| International & Other | -35 | 85 | |||
| Corporate | -33 | ||||
| All Other | 27 | ||||
| All Others | 23 | 33 | |||
| Jennie-O/Turkey Store | 107 | 129 | |||
| Total | 1,066 | 928 | 536 | 507 | 481 |
| $ Mil | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|
| Refrigerated Foods | 1,973 | 1,216 | 1,218 | 1,171 | 1,178 |
| Grocery Products | 1,215 | 1,250 | 1,237 | 684 | 670 |
| Specialty Foods | 988 | 1,013 | 470 | 506 | 475 |
| Jennie-O Turkey Store | 812 | 858 | 819 | 858 | 805 |
| International & Other | 705 | 406 | 361 | ||
| Intersegment elimination | 446 | 810 | |||
| Corporate | 713 | 1,120 | 919 | ||
| All Others | 225 | 197 | |||
| Total | 6,140 | 5,456 | 4,916 | 4,564 | 4,244 |
Price Behavior
| Market Price | $24.28 | |
| Market Cap ($ Bil) | 13.4 | |
| First Trading Date | 01/02/1990 | |
| Distance from 52W High | -19.2% | |
| 50 Days | 200 Days | |
| DMA Price | $22.67 | $22.88 |
| DMA Trend | down | up |
| Distance from DMA | 7.1% | 6.1% |
| 3M | 1YR | |
| Volatility | 36.0% | 30.6% |
| Downside Capture | -51.93 | 5.59 |
| Upside Capture | 10.88 | -16.76 |
| Correlation (SPY) | -2.9% | -1.5% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | -0.55 | -0.24 | -0.20 | -0.04 | -0.04 | 0.09 |
| Up Beta | -0.69 | -0.71 | -0.23 | -0.21 | 0.18 | 0.13 |
| Down Beta | 0.03 | -0.01 | -0.28 | -0.13 | -0.21 | -0.10 |
| Up Capture | -34% | 32% | 6% | 8% | -9% | 2% |
| Bmk +ve Days | 11 | 24 | 40 | 67 | 140 | 429 |
| Stock +ve Days | 13 | 24 | 34 | 60 | 123 | 368 |
| Down Capture | -110% | -81% | -53% | -2% | 6% | 49% |
| Bmk -ve Days | 10 | 17 | 23 | 58 | 112 | 321 |
| Stock -ve Days | 7 | 16 | 28 | 64 | 128 | 374 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRL | |
|---|---|---|---|---|
| HRL | -17.3% | 30.5% | -0.61 | - |
| Sector ETF (XLP) | 4.4% | 13.4% | 0.07 | 47.6% |
| Equity (SPY) | 22.2% | 12.5% | 1.32 | -2.0% |
| Gold (GLD) | 23.7% | 27.8% | 0.75 | 5.0% |
| Commodities (DBC) | 21.2% | 18.6% | 0.90 | -6.4% |
| Real Estate (VNQ) | 12.4% | 13.8% | 0.61 | 32.5% |
| Bitcoin (BTCUSD) | -43.6% | 42.7% | -1.23 | -5.7% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRL | |
|---|---|---|---|---|
| HRL | -9.8% | 24.3% | -0.45 | - |
| Sector ETF (XLP) | 6.5% | 13.4% | 0.26 | 48.8% |
| Equity (SPY) | 13.5% | 17.1% | 0.61 | 11.0% |
| Gold (GLD) | 18.1% | 18.3% | 0.80 | 6.4% |
| Commodities (DBC) | 7.3% | 19.5% | 0.27 | 0.2% |
| Real Estate (VNQ) | 2.7% | 18.9% | 0.05 | 28.1% |
| Bitcoin (BTCUSD) | 14.2% | 53.6% | 0.45 | -1.0% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with HRL | |
|---|---|---|---|---|
| HRL | -0.9% | 23.4% | -0.04 | - |
| Sector ETF (XLP) | 7.3% | 14.8% | 0.36 | 54.0% |
| Equity (SPY) | 15.4% | 18.0% | 0.73 | 24.0% |
| Gold (GLD) | 12.3% | 16.1% | 0.62 | 7.4% |
| Commodities (DBC) | 5.8% | 18.0% | 0.25 | 1.7% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 32.1% |
| Bitcoin (BTCUSD) | 58.3% | 66.2% | 0.98 | 1.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 7/1/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/28/2026 | -1.5% | -1.3% | 11.5% |
| 2/26/2026 | 3.1% | -2.5% | -7.1% |
| 12/4/2025 | 0.7% | -1.9% | -7.5% |
| 8/28/2025 | 0.9% | 1.7% | -2.3% |
| 5/29/2025 | 1.0% | 1.1% | -0.4% |
| 2/27/2025 | 0.9% | 2.2% | 7.0% |
| 12/4/2024 | 2.7% | 3.6% | -4.1% |
| 9/4/2024 | 3.5% | 1.1% | 0.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 9 |
| # Negative | 10 | 13 | 15 |
| Median Positive | 1.9% | 3.6% | 5.4% |
| Median Negative | -4.6% | -3.8% | -5.4% |
| Max Positive | 7.4% | 13.6% | 16.5% |
| Max Negative | -6.6% | -8.2% | -10.5% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 5/28/2026 | -1.5% | -1.3% | 11.5% |
| 2/26/2026 | 3.1% | -2.5% | -7.1% |
| 12/4/2025 | 0.7% | -1.9% | -7.5% |
| 8/28/2025 | 0.9% | 1.7% | -2.3% |
| 5/29/2025 | 1.0% | 1.1% | -0.4% |
| 2/27/2025 | 0.9% | 2.2% | 7.0% |
| 12/4/2024 | 2.7% | 3.6% | -4.1% |
| 9/4/2024 | 3.5% | 1.1% | 0.3% |
| 5/30/2024 | 0.6% | 0.3% | -1.2% |
| 2/29/2024 | -5.5% | -3.8% | -1.0% |
| 11/29/2023 | 0.4% | 4.7% | 5.4% |
| 8/31/2023 | -2.7% | -6.8% | -4.1% |
| 6/1/2023 | 5.1% | 5.5% | 5.2% |
| 3/2/2023 | -4.6% | -8.2% | -10.5% |
| 11/30/2022 | -2.5% | -2.8% | -5.6% |
| 9/1/2022 | -6.6% | -6.8% | -9.6% |
| 6/2/2022 | -5.2% | -5.5% | -1.2% |
| 3/1/2022 | 4.0% | 9.6% | 6.5% |
| 12/9/2021 | 4.7% | 13.6% | 16.5% |
| 9/2/2021 | -4.6% | -7.6% | -10.5% |
| 5/20/2021 | 7.4% | 6.1% | 3.2% |
| 2/18/2021 | 1.1% | -0.2% | 2.8% |
| 11/24/2020 | -5.6% | -5.0% | -5.4% |
| 8/25/2020 | -2.1% | -3.2% | -9.5% |
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 9 |
| # Negative | 10 | 13 | 15 |
| Median Positive | 1.9% | 3.6% | 5.4% |
| Median Negative | -4.6% | -3.8% | -5.4% |
| Max Positive | 7.4% | 13.6% | 16.5% |
| Max Negative | -6.6% | -8.2% | -10.5% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 05/28/2026 | 10-Q |
| 01/31/2026 | 02/26/2026 | 10-Q |
| 10/31/2025 | 12/05/2025 | 10-K |
| 07/31/2025 | 08/28/2025 | 10-Q |
| 04/30/2025 | 05/29/2025 | 10-Q |
| 01/31/2025 | 02/27/2025 | 10-Q |
| 10/31/2024 | 12/05/2024 | 10-K |
| 07/31/2024 | 09/04/2024 | 10-Q |
| 04/30/2024 | 05/30/2024 | 10-Q |
| 01/31/2024 | 02/29/2024 | 10-Q |
| 10/31/2023 | 12/06/2023 | 10-K |
| 07/31/2023 | 08/31/2023 | 10-Q |
| 04/30/2023 | 06/01/2023 | 10-Q |
| 01/31/2023 | 03/02/2023 | 10-Q |
| 10/31/2022 | 12/06/2022 | 10-K |
| 07/31/2022 | 09/01/2022 | 10-Q |
| Report Date | Filing Date | Filing |
|---|---|---|
| 04/30/2026 | 05/28/2026 | 10-Q |
| 01/31/2026 | 02/26/2026 | 10-Q |
| 10/31/2025 | 12/05/2025 | 10-K |
| 07/31/2025 | 08/28/2025 | 10-Q |
| 04/30/2025 | 05/29/2025 | 10-Q |
| 01/31/2025 | 02/27/2025 | 10-Q |
| 10/31/2024 | 12/05/2024 | 10-K |
| 07/31/2024 | 09/04/2024 | 10-Q |
| 04/30/2024 | 05/30/2024 | 10-Q |
| 01/31/2024 | 02/29/2024 | 10-Q |
| 10/31/2023 | 12/06/2023 | 10-K |
| 07/31/2023 | 08/31/2023 | 10-Q |
| 04/30/2023 | 06/01/2023 | 10-Q |
| 01/31/2023 | 03/02/2023 | 10-Q |
| 10/31/2022 | 12/06/2022 | 10-K |
| 07/31/2022 | 09/01/2022 | 10-Q |
| 04/30/2022 | 06/02/2022 | 10-Q |
| 01/31/2022 | 03/08/2022 | 10-Q |
| 10/31/2021 | 12/10/2021 | 10-K |
| 07/31/2021 | 09/03/2021 | 10-Q |
| 04/30/2021 | 06/01/2021 | 10-Q |
| 01/31/2021 | 03/02/2021 | 10-Q |
| 10/31/2020 | 12/04/2020 | 10-K |
| 07/31/2020 | 09/01/2020 | 10-Q |
| 04/30/2020 | 06/02/2020 | 10-Q |
| 01/31/2020 | 03/03/2020 | 10-Q |
| 10/31/2019 | 12/06/2019 | 10-K |
| 07/31/2019 | 09/03/2019 | 10-Q |
Recent Forward Guidance
Updated 5/31/2026Latest: Q2 2026 Earnings Reported 5/28/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 12.20 Bil | 12.35 Bil | 12.50 Bil | 0 | Affirmed | Guidance: 12.35 Bil for 2026 | |
| 2026 Organic Net Sales Growth Rate | 1.0% | 2.5% | 4.0% | 0 | 0 | Affirmed | Guidance: 2.5% for 2026 |
| 2026 Diluted Earnings per Share | 1.28 | 1.32 | 1.37 | -6.4% | Lowered | Guidance: 1.42 for 2026 | |
| 2026 Adj. Diluted Earnings per Share | 1.43 | 1.47 | 1.51 | 0 | Affirmed | Guidance: 1.47 for 2026 | |
| 2026 Operating Income | 960.00 Mil | 985.00 Mil | 1.02 Bil | -6.2% | Lowered | Guidance: 1.05 Bil for 2026 | |
| 2026 Adjusted Operating Income | 1.06 Bil | 1.09 Bil | 1.12 Bil | 0 | Affirmed | Guidance: 1.09 Bil for 2026 | |
Prior: Q1 2026 Earnings Reported 2/26/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 12.20 Bil | 12.35 Bil | 12.50 Bil | 0 | Affirmed | Guidance: 12.35 Bil for 2026 | |
| 2026 Revenue Growth | 1.0% | 2.5% | 4.0% | 0 | 0 | Affirmed | Guidance: 2.5% for 2026 |
| 2026 Operating Income | 1.06 Bil | 1.09 Bil | 1.12 Bil | 0 | Affirmed | Guidance: 1.09 Bil for 2026 | |
| 2026 EPS | 1.43 | 1.47 | 1.51 | 0 | Affirmed | Guidance: 1.47 for 2026 | |
Q4 2025 Earnings Reported 12/4/2025
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Revenue | 12.20 Bil | 12.35 Bil | 12.50 Bil | ||||
| 2026 Revenue Growth | 1.0% | 2.5% | 4.0% | ||||
| 2026 Operating Income | 960.00 Mil | 995.00 Mil | 1.03 Bil | 0.6% | Higher New | Actual: 989.00 Mil for 2025 | |
| 2026 Adjusted Operating Income | 1.06 Bil | 1.09 Bil | 1.12 Bil | 2.6% | Higher New | Actual: 1.06 Bil for 2025 | |
| 2026 EPS | 1.29 | 1.34 | 1.39 | 0 | Same New | Actual: 1.34 for 2025 | |
| 2026 Adjusted EPS | 1.43 | 1.47 | 1.51 | 2.1% | Higher New | Actual: 1.44 for 2025 | |
| 2026 Capital Expenditures | 260.00 Mil | 275.00 Mil | 290.00 Mil | -8.3% | Lower New | Actual: 300.00 Mil for 2025 | |
Industry Resources
| Consumer Staples Resources |
| FoodNavigator |
| Consumer Goods Technology (CGT) |
| Beverage Digest |
| Packaged Foods & Meats Resources |
| USDA Data |
| Food Processing |
| Meat+Poultry |
| Just Food |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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