Hormel Foods Corporation reports developments as a global branded food company with a portfolio spanning Planters, Skippy, SPAM, Hormel Natural Choice, Applegate, Wholly, Hormel Black Label, Columbus, Jennie-O and other food brands. Company updates commonly address quarterly earnings, dividends on common stock, product and menu innovation, foodservice offerings, retail launches, and portfolio actions across perishable and shelf-stable foods.
Recent corporate news also reflects Hormel's shift toward value-added proteins, including the completed sale of its whole-bird turkey business while retaining the Jennie-O brand and value-added turkey products. Other recurring themes include food safety and quality leadership, community programs tied to food security, and brand activity in categories such as pizza toppings, sauces, marinades, nut butters and packaged proteins.
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.
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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.
Jennie-O Turkey Store has released a survey revealing consumer insights for Thanksgiving 2021, interviewing 2,000 participants. Many respondents plan for virtual gatherings alongside in-person events, with 42% also attending Friendsgiving. Meal prep begins in September, with 50% buying frozen turkeys. Interestingly, 49% feel intimidated by cooking turkey. On the day, 28% expect to eat 4-6 pounds of food. Starting Nov. 1, Jennie-O will offer support via its hotline and website to assist with holiday meal planning.