Hormel Foods Corp Stock Price, News & Analysis

Hormel Foods Corporation (NYSE: HRL) has declared a quarterly dividend of $0.26 per share, to be paid on November 15, 2022, for stockholders of record by October 17, 2022. This marks the 377th consecutive quarterly dividend since the company went public in 1928, demonstrating its long-standing commitment to returning value to shareholders. Hormel Foods operates globally, generating over $11 billion in annual revenue and is recognized as a member of the S&P 500 Dividend Aristocrats.

The makers of PLANTERS brand announce a new peanut-shaped packaging for PLANTERS Dry Roasted Peanuts, which uses 8% less plastic than the previous 16-ounce bottle, resulting in savings of approximately 220 tons of plastic annually. This update is part of the brand parent's ongoing sustainability initiatives by Hormel Foods. The new packaging aims to enhance product visibility, with support from in-store displays and online advertising. The peanuts are a good source of protein, fiber, and essential vitamins.

Hormel Foods released a national survey revealing consumer preferences for tailgating as excitement returns to pre-pandemic routines. Conducted by OnePoll with 5,000 respondents, the survey found that 42% prefer to arrive at tailgates 1-2 hours early and 72% feel food choices significantly impact the experience. Popular tailgating foods include burgers (66%) and hot dogs (56%), while nearly half of respondents believe failing to bring a dish could lead to exclusion. The findings highlight a growing market for quick and portable food solutions.

Hormel Foods Corporation (NYSE: HRL) unveiled 'The Inspired People Plaza' at its Austin, Minn. headquarters on Sept. 15, 2022. The plaza features a 25-foot-tall fork sculpture made from nearly 20,000 donated forks, symbolizing the company's commitment to nourishing communities. This project, initiated by company leaders nearly two years ago, showcases the significance of food in bringing people together. CEO Jim Snee emphasized the power of food to change lives. Hormel Foods, a global food company with over $11 billion in annual revenue, aims to inspire through this artistic tribute.

Justin's, a leader in healthy food products, announced a $15,000 match donation to Conscious Alliance during Hunger Action Month. This initiative, aimed at combating food insecurity, allows supporters to double their contributions, potentially raising a total of $30,000. Justin's, which has partnered with Conscious Alliance for nearly 15 years, hopes to raise awareness and encourage community involvement in addressing hunger. In 2021, Justin's donated over $15,000 and more than 4,100 meals to similar organizations. The collaboration reflects Justin's commitment to corporate social responsibility.

Hormel Foods reported record net sales of $3.0 billion for Q3 2022, marking a 6% increase year-over-year. The company achieved operating income of $291 million, a 40% rise, with a new operating margin of 9.6%.

Despite challenges like inflation and supply chain issues, diluted earnings per share rose 25% to $0.40. Hormel updated its full-year net sales guidance to between $12.2 billion and $12.8 billion, while earnings guidance was lowered to $1.78 to $1.85.

Hormel Foods Corporation (NYSE: HRL) has launched its 16th annual Global Impact Report, detailing progress on its ESG goals for fiscal 2021. Highlights include the introduction of the 20 By 30 Challenge, aiming to meet 20 sustainability goals by 2030, renewable energy initiatives, and extensive animal care audits. The company reported $8.5 million in donations, contributing to hunger relief and educational programs. Hormel has been recognized as a responsible corporate citizen, achieving various awards for its efforts in sustainability and community support.

Justin's, a leader in real food products, announces its continued partnership with the National Honey Board's Honey Saves Hives campaign for the third year, aimed at educating consumers on the vital role of honey bees in our food system. The company highlights its 2021 Corporate Social Responsibility (CSR) Report, showcasing $61,000 donated for pollinator conservation, a 30% reduction target in plastic usage by 2022, and over $40,000 in donations for food system education. The report reflects Justin's commitment to sustainable practices and enhancing consumer awareness of honey bees.

Hormel Foods Corporation (NYSE: HRL) is transitioning to a new strategic operating model, effective October 31, 2022, to enhance agility and customer focus. The company will restructure into three segments: Retail, Foodservice, and International, each tailored to meet market demands and foster growth. This change is designed to strengthen brand leadership and expand global presence, supported by a new center of excellence called Brand Fuel. Hormel aims to report earnings under this model starting Q1 fiscal 2023, with no impact on historical financials.