Hormel Foods (HRL) announced leadership changes today that include the return of former CEO Jeffrey Ettinger in an interim role. Ettinger, currently a member of the Hormel Foods Board, will serve as the interim CEO of the company for 15 months starting on July 16, 2025. He will take over this role from departing CEO Jim Snee.
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Hormel Foods’ decision to bring back Ettinger as its interim CEO conclude a search for a permanent replacement. Instead, the company said that it will have a new CEO ready to take over the reins of the company from Ettinger in October 2026.
Snee’s departure also leaves the company with the need for a new president. It already has this position ready to be filled by John Ghingo. He’s being promoted to this role at the same time that Ettinger takes over as CEO. Ghingo is the leader of the largest business unit at Hormel Foods and has served in leadership positions at various consumer brand companies.
HRL Stock Movement Today
Shares of HRL stock were up 1.38% as of Monday morning. This extended a 0.19% year-to-date rally, and chips away at a 1.78% drop over the past 12 months. Today’s movement comes with minimal trading, as nearly 700,000 units changed hands, compared to a three-month daily average of about 3.09 million units.
Recent coverage included a reiterated Hold rating and a price target increase to $33 from $31 by four-star Piper Sandler analyst Michael Lavery. This represents a possible 7.04% upside for the shares.
Is Hormel Foods Stock a Buy, Sell, or Hold?
Turning to Wall Street, the analysts’ consensus rating for Hormel Foods is Moderate Buy, based on two Buy and four Hold ratings over the past three months. With that comes an average HRL stock price target of $33, representing a potential 6.9% upside for the shares.
