Hormel Foods Corp Stock Price, News & Analysis

Hormel Foods Corporation (NYSE: HRL) released its 14th annual corporate responsibility report, detailing progress made in fiscal 2019. The company surpassed goals in reducing solid waste, water use, and nonrenewable energy by 10%. Hormel launched over 500 new products and conducted over 1,800 animal care audits. Recognized as a top corporate citizen, Hormel donated $7 million, focusing on combating hunger and education. The report adheres to Global Reporting Initiative standards, with a full report available online.

Hormel Foods has launched Hormel™ Black Label™ Oven-Baked Egg Bites and Hormel™ Black Label™ Breakfast Combos, targeting consumers seeking convenient, high-protein breakfast options. The egg bites come in three varieties, each rich in protein, with the Bacon version containing 16 grams per serving. Available in microwaveable trays, these products retail for $3.49. The Breakfast Combos feature pancakes paired with bacon or sausage, priced at $2.99. Both product lines aim to meet the increasing demand for quick and nutritious breakfast alternatives.

Hormel Foods announces the launch of its Happy Little Plants® pepperoni style topping at select Papa Murphy's locations. This new plant-based option caters to the growing consumer demand for healthier food choices without sacrificing taste. Developed in collaboration with chefs and foodservice operators, the topping maintains a traditional pepperoni flavor profile. The launch will occur in cities including Austin, Dallas, and Las Vegas. Hormel continues to expand its plant-based offerings, having introduced the Happy Little Plants® brand in 2019.

Hormel Foods has launched the inaugural "10 Under 20 Food Heroes Awards" to honor ten remarkable youths working for a sustainable food system. Celebrated during the company's Spirit Week from Sept. 14-18, the awards ceremony replaces the Small Change Big Impact Food Summit at Harvard University, postponed due to COVID-19. Awardees will receive grants to support their initiatives against food insecurity and environmental protection. Hormel also recognized 19-year-old Joshua Williams for his charitable work, which has assisted over 600,000 individuals.

The HERDEZ® brand, known as the top-selling salsa brand in Mexico, has launched a new line of refrigerated guacamole featuring authentic flavors and simple ingredients. Debuting in the U.S., the HERDEZ™ Traditional Guacamole line is made with seven ingredients, including Hass avocados and fresh vegetables, and comes in Mild and Spicy varieties. Priced between $2.64 and $5.99, it aims to cater to the growing avocado consumption in American households. This new product will be available nationwide in grocery store deli sections.

Hormel Foods Corporation will participate in the Barclays Global Consumer Staples Virtual Conference on September 8, 2020, at 2:00 p.m. ET. Key executives, including Jim Snee (CEO) and Jim Sheehan (CFO), will present and engage in a fireside chat. Investors can access the live webcast via the company's website. A replay will be available for 180 days post-event. Hormel, known for brands like SPAM® and SKIPPY®, generates over $9 billion in annual revenue across more than 80 countries.