Hormel Foods Corp (HRL)

Meat Packing Plants

Latest Price

$19.94

TTM P/E

31.65

Normalized P/E

14.55

Div Yield

5.86%

Book Value

14.25

P/B Ratio

1.40

Valuation metrics

EPS: $0.87

Book value / share: $14.35

Formula: √(22.5 × EPS × BVPS)

Graham Number

$16.76

16% downside

Norm. op. income: $1.1B (median of 7yr)

Tax rate: 22%

Discount rate: 10%

Growth assumption: zero (EPV is a no-growth value)

Earnings Power Value

$11.74

41% downside

Base FCF: $778M (median of recent 5yr)

Growth: 6%/yr (median YOY, capped at 25%)

Discount rate: 10%

Terminal growth: 3%

Projection horizon: 10 years

DCF Fair Value

$22.45

+13% upside

EPS: $0.87

Target P/E: 15×

Formula: EPS × P/E

P/E Fair Value

$13.05

35% downside

43.9% held by institutions

Institution	Shares	Value	Ownership %	Change	Filing Date
State Street Corp	25.87M	$642.0M	4.70%	-1.61M	2026-06-30
BlackRock, Inc.	19.71M	$489.0M	3.58%	-4.01M	2026-06-30
Vanguard Capital Management LLC	19.39M	$481.0M	3.52%	+118.4K	2026-06-30
Invesco Ltd.	15.17M	$376.0M	2.76%	+253.5K	2026-06-30
Vanguard Portfolio Management LLC	14.80M	$367.0M	2.69%	+118.4K	2026-06-30
Two Sigma Investments, LP	12.33M	$306.0M	2.24%	--	2026-06-30
Dimensional Fund Advisors LP	9.37M	$232.0M	1.70%	+2.52M	2026-06-30
Geode Capital Management, LLC	8.19M	$202.0M	1.49%	+17.7K	2026-06-30
ProShare Advisors LLC	7.63M	$189.0M	1.39%	+807.5K	2026-06-30
Morgan Stanley	6.19M	$153.0M	1.12%	-951.4K	2026-06-30