Hormel Foods up after annual profit forecast above estimates

Shares of Skippy peanut butter maker Hormel Foods rise as much as 8.72% to $25.30, highest since September 17

Co forecast annual profit above estimates, betting on its cost-cutting plan, higher prices and sustained demand for turkey

Expects FY2026 adjusted EPS between $1.43 and $1.51, with the midpoint above analysts' average estimate of $1.45, as per data compiled by LSEG

Reports Q4 adjusted profit of 32 cents per share vs. estimates of 30 cents per share

Also logs quarterly net sales of $3.19 billion, compared with $3.14 billion a year ago

Stock set for its best day since May 15, if gains hold

Up to last close, stock down nearly ~26% YTD