The Rhumbline Advisers and Mackenzie Financial Corp increased their stake in Hormel Foods Corporation. Additionally, Millennium Management LLC bought a substantial chunk of Hormel shares, demonstrating growing investor confidence. Hormel reported Q2 Fiscal 2025 results, showing strength and growth despite commodity challenges. Its dividend streak remains unbroken, with a $0.29 quarterly payout marking the 388th consecutive dividend. However, Hormel also faced a sharp volume decline, potentially causing concern among investors. Scott Aakre, Group Vice President and Chief Marketing Officer for retail, announced retirement after a 35-year stint, and Jeff Baker was named as his successor. Meanwhile, ratings received from brokerages indicated a 'Moderate Buy' consensus and BNP Paribas even upgraded the stock. Hormel reaffirmed its dividend of $0.29 despite potential financial prospects concerns. Finally, Hormel showed social responsibility by providing over $2M in products and disaster relief support for California wildfires.
Hormel Foods Corporation HRL News Analytics from Wed, 04 Sep 2024 07:00:00 GMT to Fri, 06 Jun 2025 14:37:00 GMT - Rating 3 - Innovation 0 - Information 8 - Rumor 2
