Heather Jones Research


Heather Jones Research offers in-depth fundamentals-based research of domestic equities in the Agribusiness and Protein sectors, as well as more broad-based industry research.

Latest Research

March 12, 2026

CALM: Updated Estimates, Outlook

By Heather Jones

Q3 fundamentals were better than we had anticipated as stronger retail feature, combined with additional bird flu outbreaks, helped tighten the S&D and propelled pricing higher. We have raised our Q3 estimate to $0.44 from…

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March 12, 2026

JBS: Updated Estimates, Outlook

By Heather Jones

We have raised our Q4 estimate (recall our projections are U.S. GAAP) as PPC’s Q4 results were better-than-expected; we also believe Seara and JBS Brasil performed somewhat better than previously anticipated. We did not change…

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March 12, 2026

PPC: Revising Estimates Lower

By Heather Jones

Q1 is not yet finished, but based upon QTD trends, we have revised our estimates lower. Our Q1 goes to $0.67 from $1.05 and our full-year estimate now equals $3.19 ($3.76). Our 2027 goes to…

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March 9, 2026

HRL: Two Steps Up, One Step Back

By Heather Jones

HRL preannounced Q1 EPS ahead of CAGNY and full-year results February 26th. Relative to us, volumes disappointed in every segment, particularly Retail where volumes fell nearly 600bps yr/yr. Much of the decline was related to…

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February 23, 2026

HRL: Updated Outlook

By Heather Jones

Hormel preannounced Q1 sales and earnings and EPS were $0.34, $0.02 ahead of HJR and consensus. No details were provided, so we are unable to offer much analysis of the report. However, below we detail…

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OUR COVERED COMPANIES

Heather Jones Research provides expert coverage on the following companies:

Our Mission

We are committed to generating and distributing insightful, proprietary and highly unique research analysis to help create alpha for institutional equity investors and private equity funds. Our goal is to enable the buyside in both the public and private spheres make better investing decisions with an eye toward both current trends, as well as the future.

OUR LEADERSHIP

Heather L. Jones founded Heather Jones Research, LLC in May 2019.  She has worked in equity research for over 20 years including stints on both the buy- and sell-side. She has worked at Bear Stearns, BB&T and most recently, Candlestick Capital, LLC. In StarMine’s 2013 Analyst Awards for Excellence, she was ranked #1 stock picker in the Food Products category. She was also named top stock picker for 2012 in the Food and Tobacco industry in The Wall Street Journal’s annual “Best on the Street” analyst survey. In 2007, Jones placed third in her industry. She was also ranked #1 in the food industry by Forbes.com in its 2009 “Blue Chip Analyst” awards survey.

CONTACT US

Email Address: [email protected]

Phone Number: 1 (804) 314-2373