Hormel Foods price target lowered to $27 from $31 at Goldman Sachs

Goldman Sachs lowered the firm’s price target on Hormel Foods (HRL) to $27 from $31 and keeps a Buy rating on the shares. Hormel reduced its FY25 EPS guidance by about 6% at the midpoint, highlighting margin pressure from higher input costs, impacts from rising bird illnesses on its turkey flock, a recent fire at its peanut butter production facility, and a voluntary product recall for select chicken products across the foodservice channel, the analyst tells investors in a research note. The company also announced Paul Kuehneman as interim CFO, while a search process is underway to fill the CFO role, Goldman says.