What Are Wall Street Analysts' Target Price for Hormel Foods Stock?

Based in Austin, Minnesota, Hormel Foods Corporation (HRL) is a global branded food powerhouse generating more than $12 billion in annual revenue. Its impressive portfolio spans some of the most recognizable names in the food industry, including Planters, Skippy, SPAM, Hormel Natural Choice, Applegate, Wholly, Hormel Black Label, Columbus, Jennie-O, and more than 30 other beloved brands. But despite its lineup of well-known brands, Hormel Foods has struggled to win over Wall Street this year.

With a market capitalization of roughly $11.71 billion, Hormel shares have fallen nearly 15.1% over the past year and are down 9.6% so far in 2026, significantly underperforming the broader S&P 500 Index ($SPX), which has gained about 19.3% over the past year and 12.9% year to date (YTD). Hormel has also trailed its defensive consumer-staples peers. 

The State Street Consumer Staples Select Sector SPDR ETF (XLP) has climbed about 5.3% over the past 52 weeks and 9.5% in 2026, highlighting just how much ground Hormel stock has lost compared with both the broader market and its sector.

Hormel Foods’ shares took a sharp hit on Aug. 27, falling nearly 10.3% after the packaged-foods company delivered a mixed fiscal 2026 third-quarter report that left investors with more concerns than celebrations. The company’s net sales fell more than 2% to $2.96 billion, missing Wall Street’s $3.04 billion forecast, as weakness across its retail and international businesses dragged on the top line. The earnings side offered a small bright spot, with adjusted EPS of $0.37 beating expectations of $0.35.

However, the sales weakness ran deeper in Hormel’s largest business. Retail sales declined 4% year over year, driven by a 9% drop in volume as demand for private-label snack nuts softened. The bigger setback came from management’s outlook. Hormel cut its full-year 2026 net sales guidance to range between $12.1 billion and $12.2 billion, down from its previous range of $12.2 billion to $12.5 billion. The company also narrowed its expected full-year organic sales growth to 1% to 2%.

Looking ahead, Wall Street expects Hormel Foods’ earnings momentum to hold up, even as the company faces pressure on sales. For the current fiscal year ending in October 2026, analysts forecast EPS of $1.50, representing a 9.5% year-over-year increase. Hormel’s bottom line also has a strong history of beating expectations. The company has beaten consensus earnings estimates in each of the past four quarters, giving investors a track record of consistent earnings surprises.

However, given the stock’s lukewarm price action and mixed Q3 earnings report, Wall Street is taking a wait-and-see approach to Hormel Foods, with the stock carrying a consensus “Hold” rating overall. Of the 10 analysts covering the company, just two recommend a “Strong Buy,” while the other eight rate the stock a “Hold.” Notably, this cautious view has remained unchanged over the past three months, signaling that analysts have yet to see a strong enough catalyst to shift their stance.

JPMorgan recently took a more cautious view of Hormel Foods, lowering its price target to $23 from $26 while maintaining a “Neutral” rating on the stock. Still, the broader analyst targets suggest some potential upside from current levels. The average price target of $26.88 implies a gain of about 26.3%, while the Street-high target of $30 points to potential upside of roughly 41%. Overall, the targets reflect a mixed outlook, with analysts seeing room for recovery but remaining measured on the stock’s near-term prospects.