Welcome to our dedicated page for Hormel Foods Corporation news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods Corporation stock.
Hormel Foods Corporation (NYSE: HRL), headquartered in Austin, Minnesota, is a globally recognized Fortune 500 company, noted for its extensive portfolio of consumer-branded food and meat products. Renowned for quality, taste, and nutrition, Hormel Foods has built a strong reputation among consumers, retail grocers, foodservice, and industrial customers. The company’s diverse product range includes hams, bacon, sausages, franks, canned luncheon meats, stews, chilis, hash, meat spreads, shelf-stable microwaveable entrees, and salsas.
Historically meat-focused, Hormel Foods has broadened its offerings to include various protein sources, becoming a comprehensive branded food company. Its major brands like Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy hold dominant market positions in their respective categories. In fiscal 2023, U.S. retail accounted for 64% of sales, U.S. food service for 30%, and international sales for 6%, with 70% of sales from perishable food and 30% from shelf-stable products.
Recently, Hormel Foods has demonstrated strong performance across its business segments, particularly in the first quarter of fiscal 2024. The company’s strategic initiatives in transformation and modernization have shown promising results. Highlights include broad-based volume growth, robust demand for foodservice products, and significant progress in their Planters® snack nuts business. CEO Jim Snee emphasized the team's focused execution of strategic priorities and improvements in the supply chain, which have positively impacted the company’s growth trajectory and shareholder returns.
The company's ongoing projects include the redesign of the HORMEL® NATURAL CHOICE® product packaging, reducing packaging material by 337,000 pounds annually, and introducing HORMEL® Ribbon Pepperoni, aimed at improving pizza preparation efficiency for foodservice operators. Additionally, Hormel Foods continues to support young innovators through its 10 Under 20 Food Heroes program, recognizing and mentoring youth driving positive change in the food system.
Hormel Foods Corporation reported strong financial results for the second quarter of fiscal 2024, with continued growth in the Foodservice and International segments, improvements in the supply chain, and stable volumes across its business. The company remains focused on strategic initiatives to drive long-term growth and shareholder returns, reaffirming its commitment to excellence in quality, sustainability, and community impact.
For more information, visit www.hormelfoods.com.
Hormel Foods Corporation (NYSE: HRL) has appointed Wendy A. Watkins as senior vice president and chief communications officer. Since joining in 2015, Watkins has enhanced Hormel's global reputation and corporate responsibility efforts, including leading communications during the COVID-19 pandemic. She is tasked with overseeing internal and external communications while continuing to build Hormel's image as a respected food company. Under her leadership, Hormel has consistently ranked among Fortune's most admired companies and has been recognized for its corporate citizenship.
Hormel Foods Corporation (NYSE: HRL) announced the retirement of Jim Sheehan as executive vice president and CFO after 43 years, effective year-end 2021. Jacinth Smiley, previously group VP of corporate strategy, will succeed him. Smiley brings extensive experience from LyondellBasell and General Electric, focusing on corporate finance and strategic planning. Sheehan leaves a legacy of leadership, including successful implementations like Project Orion and the acquisition of Planters®. Hormel plans to leverage Smiley's expertise to drive growth, especially in international markets.
Jennie-O Turkey Store, a leading turkey brand, is reviving its 1-800-TURKEYS hotline starting Nov. 1, 2021, to assist consumers in planning Thanksgiving meals. A recent survey revealed that 49% of respondents consider turkey the centerpiece of Thanksgiving but feel daunted by cooking it. The hotline offers real-time support through various channels, including live chat and texting. Jennie-O also promotes its OVEN READY turkey, which requires no thawing. New trends from the survey indicate purchasing habits and preferences for turkey preparations as consumers seek help for stress-free holiday meals.
Hormel Foods Corporation (NYSE: HRL) will conduct a virtual Investor Update on October 14, 2021, starting at 9:00 am ET and ending at 11:00 am ET. This event will include a management presentation followed by a live Q&A session. Interested participants can register and view the webcast at investorupdate.hormelfoods.com. For questions, attendees may email IR@Hormel.com or call (844) 479-5350, using passcode 4262615. Hormel Foods is a global branded food company with over $10 billion in annual revenue.
Hormel Foods Corporation (NYSE: HRL) announced a partnership between its venturing company, 199 Ventures, and The Better Meat Co. to develop plant-based protein products utilizing Rhiza, a mycoprotein derived from potato fermentation. The collaboration aims to enhance Hormel's offerings in the growing alternative protein market, highlighting Rhiza's nutritional benefits, including higher protein content than eggs and more iron than beef. This initiative marks Hormel's continued investment in sustainable food innovation.
Hormel Foods Corporation (NYSE: HRL) announced the premiere of its new film Out of the Smoke, showcasing the journey of retired smokejumper Kenneth Perry. The film, created by renowned documentarians, emphasizes the relationship between smokejumpers and SPAM® products, which have been vital for wildland firefighters since 1939. Hormel has committed to donating $25,000 to the Wildland Firefighter Foundation to honor these heroes.
Hormel Foods Corporation (NYSE: HRL) declared a quarterly dividend of 24.50 cents per share on September 27, 2021. This dividend will be paid on November 15, 2021, to shareholders on record as of October 18, 2021. This payment marks the 373rd consecutive quarterly dividend since becoming public in 1928. Hormel Foods, generating over $10 billion in annual revenue, operates globally with numerous well-known brands, and is recognized as a member of the S&P 500 and Dividend Aristocrats.
Justin's, a maker of high-quality nut butters and snacks, has launched two new Super Dark Chocolate Nut Butter Cups: Super Dark Chocolate Peanut Butter Cup and Super Dark Chocolate Espresso Almond Butter Cup. These products are made with 80% cocoa, 5g of sugar, and are USDA-certified organic. The cups are designed for portability and shareability, featuring six individually wrapped units in a 4.2 oz bag. Available at Whole Foods Market, this launch marks a decade since Justin's first introduced the organic peanut butter cup.
Hormel Foods Corporation (NYSE: HRL) launched its 15th annual corporate responsibility report, showcasing achievements from fiscal 2020 and new goals for 2030. The company exceeded targets in areas such as non-renewable energy, water use, and product packaging reductions. Hormel Foods was recognized as one of the 100 Best Corporate Citizens for the 12th consecutive year. Highlights include a commitment to diversity, significant donations over $8.2 million, and launching over 500 new food items. The report aligns with the Global Reporting Initiative standards, emphasizing transparency and accountability.
FAQ
What is the current stock price of Hormel Foods Corporation (HRL)?
What is the market cap of Hormel Foods Corporation (HRL)?
What does Hormel Foods Corporation specialize in?
What are the main brands of Hormel Foods?
How has Hormel Foods performed recently?
What strategic initiatives is Hormel Foods currently undertaking?
How does Hormel Foods support sustainability?
What is the significance of the HORMEL® NATURAL CHOICE® packaging redesign?
What is the newest product innovation by Hormel Foods?
How does Hormel Foods engage with young innovators?
What are the financial highlights of Hormel Foods for the second quarter of fiscal 2024?
Where can I find more information about Hormel Foods?
