Barclays Trims Hormel (HRL) Target as Agriculture Outlook Turns Uneven

Hormel Foods Corporation (NYSE:HRL) is included among the 14 Best Dividend Aristocrats to Invest in Heading into 2026.

On December 9, Barclays lowered its price target on Hormel Foods Corporation (NYSE:HRL) to $30 from $31 while keeping an Overweight rating. The move came as part of the firm’s 2026 outlook for the Americas agribusiness group. Barclays expects agriculture markets to deliver uneven results next year. The firm prefers seed over crude protein and holds a neutral to positive view on fertilizer. Among grain traders, biofuel policy is seen as the key swing factor. In protein markets, the outlook for 2026 looks much like 2025.

A separate development followed a few days later. On December 15, Hormel Foods Corporation (NYSE:HRL) and Forward Consumer Partners announced the completion of their previously disclosed transaction involving the JUSTIN’S brand. Forward Consumer Partners is a private investment firm focused on branded consumer products. Under the agreement, JUSTIN’S will operate as a standalone company. Ownership is split, with Forward holding 51% and Hormel retaining 49%.

The business includes well-known products such as nut butters and USDA-certified organic chocolate confections. The structure gives the brand room to grow while allowing Hormel to stay closely involved.

John Ghingo, president of Hormel Foods, made the following statement:

“We are excited about the opportunity ahead for the JUSTIN’S^® brand. This new partnership provides the focus and resources to help the business grow and also reflects how Hormel Foods is thinking differently about unlocking growth for our brands.”

Hormel Foods Corporation (NYSE:HRL) operates as a global food company with a broad portfolio. Its products span pork and poultry, snacks, and ready-to-eat meals.

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Disclosure: None.