Hormel Foods Corp Stock Price, News & Analysis

Hormel Foods Corporation (NYSE: HRL) announced its 2022 Annual Meeting of Stockholders will be held virtually on January 25, 2022, at 6 p.m. CST due to the COVID-19 pandemic. Only registered stockholders as of December 3, 2021, can participate and vote electronically using their 16-digit control number. The webcast link is www.virtualshareholdermeeting.com/HRL2022. For non-stockholders wishing to attend, registration is available as guests, but they cannot vote or submit questions.

Green Circle Capital Partners has launched a venture capital division, Green Circle Foodtech Ventures I (GCFV), with Hormel Foods (NYSE: HRL) as the anchor investor. The fund aims to raise $25 million to support companies in the Foodtech ecosystem, focusing on sectors like alternative proteins and sustainable packaging. The partnership is seen as a significant opportunity for portfolio companies, leveraging Hormel's expertise in food production and marketing. GCFV plans to invest in about a dozen startups by providing capital and strategic support.

Hormel Foods Corporation (NYSE: HRL) reported record fourth-quarter fiscal 2021 results, with net sales of $3.5 billion, up 43% year-over-year. Operating income increased by 29% to $358 million, and diluted earnings per share reached $0.51, a 19% rise. For the full fiscal year, net sales were $11.4 billion, up 19%. Despite challenges like labor shortages and inflation, strong growth was seen across all segments, particularly in foodservice with a 72% surge. Guidance for fiscal 2022 expects net sales between $11.7-$12.5 billion and EPS between $1.87-$2.03.

Columbus Craft Meats has launched three new exclusive charcuterie kits available on its website. The kits, named The Unexpected, Rustic Beauty, and Smoky Vibes, offer unique flavor profiles for a gourmet experience. Each kit is paired with easy-to-follow recipes by Evan Inada, the company's charcuterie director. These offerings aim to enhance social gatherings by making charcuterie accessible while celebrating its culinary art. The brand continues to expand its culinary inspirations with future recipe releases.

The PLANTERS^® brand, part of Hormel Foods, collaborates with Reginald VelJohnson to celebrate the holidays with a new music video titled, 'A Nutty Holiday.' This festive production aims to reunite families after a year apart, featuring nostalgic elements and a giveaway of limited-edition 'nutstalgia' gift boxes. Fans can enter for a chance to win these boxes until December 31. Hormel Foods, with over $10 billion in annual revenue and a commitment to community service, continues to innovate its holiday marketing strategies.

Hormel Foods Corporation (NYSE: HRL) announced its annual profit sharing for eligible team members, marking the 83rd consecutive grant. The amount varies yearly based on company performance, with past distributions ranging from $14 million to $17 million. This tradition, initiated in 1938, recognizes the hard work of employees, especially during the pandemic. Hormel Foods, with over $10 billion in annual revenue and a wide portfolio of brands, emphasizes its commitment to rewarding its team and giving back to communities.

Jennie-O Turkey Store collaborated with YouTube star MrBeast to provide 10,000 free turkeys to families in Greenville, N.C., during a recent event. This initiative marks the largest single donation in the company's 80-year history, valued at $266,000, distributing 120,000 servings of turkey. Almost 700 volunteers participated, including local officers and community members. Hormel Foods, Jennie-O's parent company, also contributed with additional product donations. MrBeast emphasized the importance of such partnerships in tackling food insecurity.

The Board of Directors at Hormel Foods Corporation (NYSE: HRL) has announced a 6% increase in the annual dividend, raising it from $0.98 to $1.04 per share. This marks the 56th consecutive annual dividend increase. The first quarterly dividend of $0.26 per share will be paid on February 15, 2022, to shareholders on record by January 18, 2022. Hormel has consistently paid quarterly dividends since going public in 1928, demonstrating a solid commitment to shareholder returns.