Hormel Foods Corporation (HRL) is preparing for its virtual 2025 annual meeting for stockholders and has declared a 59th consecutive increase in its annual dividend. The company announced the retirement of its long-serving vice president, Brian Johnson and CEO, James P. Snee. HRL's stock fell, while its short interest saw an increase in December. In light of recent wildfires in California, Hormel provided over $2M in products and disaster relief support. Barclays upgraded HRL, setting a new price target, despite a three-year loss of 34% value for investors. Barclays also announced that HRL would be increasing its dividend to $0.29. The company has elected a new board member, named Mike Clausman as Vice President, Deputy General Counsel and Assistant Secretary, and was named on Forbes' list for America's Best Employers for Women 2024. Unfortunately, sentiment still eludes the company and its recent earnings call underscored strategic transformations, weighing on its outlook. Some noteworthy occurrences are a 3% dividend increase and 550,000 pounds of food donations for California wildfire relief efforts. Notably, The company's Foundation, which owns 47% of the shares, along with the institutions profited from a 3.1% surge in HRL.
Hormel Foods Corporation HRL News Analytics from Thu, 29 Feb 2024 08:00:00 GMT to Sat, 25 Jan 2025 08:26:40 GMT -
Rating -4
- Innovation 2
- Information 4
- Rumor -5
