Welcome to our dedicated page for Hormel Foods news (Ticker: HRL), a resource for investors and traders seeking the latest updates and insights on Hormel Foods stock.
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 a quarterly dividend of $0.2450 per share, set to be paid on May 17, 2021, to shareholders of record by April 12, 2021. This marks the 371st consecutive quarterly dividend paid by the company, which has maintained this record since becoming public in 1928. Hormel Foods, with annual revenue exceeding $9 billion, is known for brands like SKIPPY and SPAM.
Hormel celebrates National Pi Day on March 14, 2021, highlighting a survey showing pepperoni as America's favorite pizza topping, chosen by 79% of respondents. Conducted by The Harris Poll, the survey indicates that 73% of Americans find pizza comforting during the COVID-19 pandemic, with 60% citing its deliciousness as the top reason. Nearly half (47%) prefer pepperoni when dining with family and friends. The brand's commitment to quality continues, as Hormel remains America's leading pepperoni brand.
Summary not available.
Hormel Foods Corporation introduced the new Perfect Plate™ products designed for retailers to meet the growing demand for touch-free, convenient meal options. These products help lessen back-of-house challenges by eliminating the need for deli staff to handle or assemble meals. The offerings include five meal varieties like Brisket Mac & Cheese and Chicken Fettuccine Alfredo, and four protein starter options. Retail prices range from $6.99 to $7.99. The initiative aims to capitalize on the trend for ready-to-eat meals, enhancing the selection available in stores.
Hormel Foods Corporation (NYSE: HRL) announced on February 22, 2021, the appointment of Jeff Frank as vice president of Grocery Products, overseeing the strategic integration of the recently acquired Planters and Corn Nuts brands, expected to complete by summer 2021. Jim Snee, CEO, emphasized that this acquisition is the largest in Hormel's history, requiring focused leadership. Additionally, Annemarie Vaupel was promoted to vice president of marketing for the Foodservice division, continuing her significant contributions to the company.
Hormel Foods Corporation (NYSE: HRL) reported its first-quarter fiscal 2021 results, revealing a record net sales of $2.5 billion, up 3% year-over-year. However, pretax earnings fell 5% to $277 million, with diluted earnings per share declining 9% to $0.41. Despite a 1% drop in volume, all segments achieved sales growth, particularly Grocery Products and International segments. Looking ahead, Hormel anticipates full-year EPS guidance between $1.70 and $1.82, excluding the impact of the planned acquisition of the Planters snack nuts business for $2.79 billion.
Hormel Foods has launched its new Hormel® pretzel bites and cheese tray as part of its Hormel Gatherings® line, responding to the growing trend in snack consumption amid the COVID-19 pandemic. This innovative product features soft pretzel bites and cheddar cheese sauce, packaged for easy preparation and intended for small gatherings or in-home entertainment. Priced between $6.99 and $7.99, this product is designed to appeal to families and is available in select deli sections.
Hormel Foods Corporation (NYSE: HRL) announced its definitive agreement to acquire the Planters® snack nut portfolio from Kraft Heinz Company (Nasdaq: KHC) for $3.35 billion in cash. This transaction, expected to close in calendar Q2 2021, represents an effective purchase price of $2.79 billion after accounting for a tax benefit valued at $560 million. The acquisition adds a $1 billion brand to Hormel's portfolio, broadening its presence in the growing snacking market and anticipated to yield $50-60 million in synergies by 2024.
Hormel Foods Corporation (NYSE: HRL) will announce its first quarter financial results before the market opens on February 18, 2021. A conference call featuring CEO Jim Snee and CFO Jim Sheehan will commence at 8:00 a.m. CT (9:00 a.m. ET) to discuss the earnings report. Investors can listen live via the company's website or by dialing in using the provided numbers. Hormel Foods, a global food company based in Austin, Minn., boasts over $9 billion in annual revenue and includes well-known brands like SPAM® and SKIPPY®.
Hormel Foods Corporation (NYSE: HRL) has launched its new digital thought-leadership series, "Heart to Table", featuring stories and interviews with renowned chefs and food influencers. This initiative aims to celebrate the intersection of food, culture, and personal experiences. Brent Graber and host Laurie March lead the series, showcasing new podcast episodes and social media interactions. Esteemed guests include Chef Michael Mina and others, who share insights and recipes. The first four episodes are available now, with new releases scheduled monthly.