Hormel Foods Corp Stock Price, News & Analysis

Hormel Foods (NYSE: HRL) announced the retirement of Mark Ourada, group vice president of Foodservice, after 37 years of service. Ourada played a key role in developing the company's $3.8 billion Foodservice segment, contributed to the PLANTERS® brand integration, and helped expand the convenience store channel.

David Weber, a 33-year company veteran and current vice president of Foodservice sales, will succeed Ourada. Weber brings 30 years of Foodservice experience and has demonstrated leadership in managing the Burke organization and integrating the Fontanini business acquisition.

Hormel Foods (NYSE: HRL) announced it will hold its 2025 Annual Meeting of Stockholders virtually on Tuesday, January 28, 2025, at 6 p.m. CST. The meeting is accessible to stockholders of record as of November 29, 2024. Stockholders can participate through virtualshareholdermeeting.com/HRL2025, with registration opening at 5:45 p.m. CST.

Participants will need a 16-digit control number from their proxy materials to vote and participate. The meeting will include a Q&A session, with questions accepted in advance through proxyvote.com and during the meeting. Non-stockholders can attend as guests but cannot vote or submit questions.

Following the meeting, registered stockholders can pick up gift boxes at the SPAM® Museum starting January 29, 2025, while supplies last. Gift boxes must be picked up in person by the stockholder with proper documentation.

Hormel Foods (NYSE: HRL) announced the retirement of Brian Johnson, vice president and corporate secretary, after a 30-year career with the company. Johnson, who serves as a key advisor to the company's Board of Directors, has been responsible for corporate governance, securities laws compliance, and financing matters. He also participates in the company's disclosure, compliance, and global impact committees.

Chairman, president and CEO Jim Snee praised Johnson's expertise, sound judgment, integrity, and dedication, highlighting his role as a trusted advisor to executives and the Board of Directors. Johnson and his wife Ann have been recognized for their contributions to the Austin, Minnesota community.

Hormel Foods (NYSE: HRL) and its joint-venture MegaMex Foods have committed over $2 million in disaster relief support for Southern California wildfire-affected communities. The company has donated more than 550,000 pounds of food products, equivalent to 460,000 meals, including ready-to-eat and shelf-stable products from brands like PLANTERS, SKIPPY, JUSTIN'S, and EMBASA.

The support package includes frozen and refrigerated products such as JENNIE-O OVEN READY turkeys, WHOLLY avocado minis, and COLUMBUS meats. The company's Foodservice division is supporting local restaurants providing free meals to first responders and displaced residents. Additionally, the Hormel Foods Charitable Trust and MegaMex Foods jointly donated $50,000 to the LA Unified School District Education Foundation's Emergency Relief Fund to assist affected students, faculty, and families.

Hormel Foods (NYSE: HRL) announced that Chairman, President and CEO James P. Snee will retire at the end of fiscal 2025 after 36 years with the company. A search committee has been formed to identify his successor, considering both internal and external candidates. After the succession, Snee will serve as a strategic advisor to the Board through fiscal 2025 and 18 months thereafter.

During Snee's eight-year tenure as CEO, the company expanded its protein-centric portfolio through key acquisitions including PLANTERS®, FONTANINI®, and CERATTI®. He led significant organizational changes including a new operating model and the Transform & Modernize growth initiative. Under his leadership, Hormel Foods maintained its dividend growth legacy, announcing its 59th consecutive annual dividend increase in November 2024.

The company's fiscal 2025 performance outlook remains unchanged.

PLANTERS® is accepting applications for three Peanutter positions, offering a unique full-time job opportunity from June 2025 to June 2026. The role involves traveling across the country in the iconic 26-foot-long NUTmobile as brand ambassadors, participating in parades, community events, and grand openings.

The position includes a competitive compensation package with travel expenses, health insurance, and meal stipends. Successful candidates must be college graduates with a bachelor's degree, preferably in communications, marketing, advertising, public relations, or related fields. Applications, including a resume and short video, must be submitted by February 14.

Previous Peanutters have participated in significant events, including tree lightings, professional football games, and national commercials. The role represents the fourth class of Peanutters for the brand, continuing its tradition of spreading brand awareness through unique promotional activities.

Hormel Foods (NYSE: HRL) has appointed Mike Clausman as vice president, deputy general counsel and assistant secretary. In this new role, Clausman will be responsible for overseeing legal support across various critical areas including brand and business growth initiatives, commercial transactions, mergers and acquisitions, and intellectual property. He will report to Colleen Batcheler, senior vice president external affairs & general counsel.

Hormel Foods (NYSE: HRL) reported its fiscal 2024 results with net sales of $11.9 billion and operating income of $1.1 billion. The company achieved record operating cash flow of $1.3 billion and delivered diluted earnings per share of $1.47 (adjusted $1.58).

For Q4 2024, the company reported net sales of $3.1 billion and operating income of $294 million. The Transform and Modernize (T&M) initiative generated $75 million in operating income benefits. The company announced a 3% dividend increase, marking its 59th consecutive year of dividend growth.

Looking ahead to fiscal 2025, Hormel expects net sales between $11.9-12.2 billion and adjusted diluted EPS of $1.58-1.72, with anticipated T&M benefits of $100-150 million.

Hormel Foods (NYSE: HRL) announced a 3% increase in its annual dividend, raising it from $1.13 to $1.16 per share. This marks the company's 59th consecutive annual dividend increase. The first quarterly dividend of $0.29 per share will be paid on February 18, 2025, to stockholders of record as of January 13, 2025. This represents the 386th consecutive quarterly dividend since becoming public in 1928. Hormel Foods, with approximately $12 billion in annual revenue across 80+ countries, continues its uninterrupted dividend payment history.