The latest updates on Hormel Foods Corporation (HRL) reveal multiple important management and financial changes. Hormel has confirmed a dividend of $0.29 as the company continues its rich history of dividend payments. Lecap Asset Management has recently bought more than 28,000 shares of Hormel whereas Janney Montgomery Scott sold almost 31,000 shares. The company has announced a set of leadership changes, including the elevation of John Ghingo to President and former CEO Jeffrey M. Ettinger returning as interim CEO, effective July 2025. Amid several reports and earnings calls, the company's recent performance indicated underperformance against the consumer defensive sector. Goldman Sachs started its coverage on Hormel with a Buy rating. The company's intrinsic value may be up to 71% above its current share price. However, concerns are rising over Hormel's weak volumes and poor financial prospects. Concurrently, ownership distribution reveals that while institutions own 43%, a company-controlled foundation owns 47% of the company. The overall stock scenario suggests Hormel as one of the best high yield stocks for dividend capture.
Hormel Foods Corporation HRL News Analytics from Wed, 04 Sep 2024 07:00:00 GMT to Fri, 27 Jun 2025 07:00:00 GMT - Rating 7 - Innovation 2 - Information 8 - Rumor 4
