Hormel Foods slips; JP Morgan downgrades rating to 'neutral', trims PT

Hormel Foods

09/04/2026 09:28

** Shares of Hormel Foods HRL.N marginally down at $21.57 in premarket trade

** J.P. Morgan downgrades stock rating on the Skippy peanut butter maker to "neutral" from "overweight", and trims PT to $23 from $28

** Brokerage says HRL faces growing margin pressure that its FY26 outlook does not fully reflect, as higher freight and fuel costs are proving more persistent than expected

** "We still see a path to earnings growth, aided by operational improvements and cost savings, but not enough to remain constructive," brokerage says

** Eleven analysts rate the stock "hold" on average; median PT is $27, according to data compiled by LSEG

** As of last close, Hormel stock down ~9% YTD

 (Reporting by Akriti Shah in Bengaluru)

 ((akriti.shah@thomsonreuters.com))