12 Best Food Stocks to Buy Under $30

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5. Hormel Foods Corporation (NYSE:HRL)

Stock Price: $29.31

Number of Hedge Fund Holders: 31

Hormel Foods Corporation (NYSE:HRL) manufactures and markets branded food products. Its operations are divided into Retail, Foodservice, and International segments. In a report released on April 14, Benjamin Theurer from Barclays maintained a buy rating for the company and set a price target of $36.00.

On April 19, Hormel Foods Corporation (NYSE:HRL) received an upgrade from analyst Peter Galbo from BofA, who moved the company from Underperform to Neutral with a $35 price target, up from $29. The rating upgrade was supported by improved fundamentals in the company’s Jennie-O Turkey segment and its cost-saving program named “Transformation & Modernization.” Hormel Foods Corporation’s (NYSE:HRL) pork business is also performing well, benefiting from stable input costs and strong protein demand, which are bringing a positive light to its operations.

Its fiscal Q1 2025 results also show progress across key priorities, with net sales of $2.99 billion, operating income of $228 million, and organic net sales growing 1%. Hormel Foods Corporation (NYSE:HRL) also saw volume growth and share gains in flagship and rising brands in its retail category, while Foodservice underwent broad-based growth across various categories, especially its premium offerings. These trends reflect confidence in the company’s operations, positioning it on track to deliver its 2025 expectations.

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