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Dividend Kings are high-quality income investments for long-term-oriented investors. Investors don't buy these stocks once and forget about them; they buy them repeatedly, building solid positions that drive portfolio value.
Hormel Foods (HRL) is focused on six strategic priorities, which include pursuing solid global expansion. However, increasing advertising investments are putting pressure on profits.
Hormel Foods Corporation is a leading global food company known for iconic brands like SPAM and Skippy. The company's recent earnings results showed a modest increase in volume and net sales. While the company has a solid track record of dividend payments, its stock appears to be reasonably priced with limited upside potential.
Hormel has been hit with several headwinds all at the same time. The company's fiscal 2024 Q1 earnings suggest the business is gaining some traction as it works to turn itself around.
Hormel Foods has been struggling with multiple headwinds. The company is a Dividend King with a long history of success.
Hormel has increased their dividends for 57 consecutive years while also maintaining a solid dividend compound annual growth rate. The shift in consumer spending towards store-branded items poses a risk to Hormel's sales and revenue growth. The stock currently trades over fair value, but a comeback is possible if inflation cools and sales volume continues to increase.
Hormel Foods has been struggling more than its peers in recent years. But in a good sign, the food maker was able to grow volume in fiscal Q1 2024.
Hormel was able to grow volumes across all its divisions in the first quarter of fiscal 2024. Although the company's foreign sales were strong, consumer sales in China were still below expectations.
Hormel Foods' (HRL) differentiated product portfolio and innovative solutions are fueling growth in the Foodservice business. Focused on its six strategic priorities bodes well.
Hormel is looking at modest growth and operational headwinds, leading to a drop in stock price. However, the company outperformed very low expectations, and the stock consequently jumped.