Hormel Foods Corporation (HRL) faced notable changes in its shareholdings, with
Meiji Yasuda Asset Management Co Ltd and
USS Investment Management Ltd selling their shares while
AQR Capital Management LLC, Adage Capital Partners GP L.L.C, and OMERS ADMINISTRATION Corp made new acquisitions. Profitability issues caused
HRL to lower its earnings outlook, leading to a decrease in the company's stock price. Successful quarters and strong sales growth conflicted with the challenges of margin pressures due to higher commodity costs. Leadership transition took place with
Jeffrey Ettinger becoming Interim CEO and
John Ghingo being promoted to President. Despite launching a unique 'Pepperoni Insurance' for National Pepperoni Pizza Day and reporting consecutive dividend increases, HRL's shares suffered due to reduced earnings outlook amidst inflation pressures. Hints of impending financial struggle were prevalent, with the new CEO admitting a lag in profit recovery. Still,
HRL managed to exceed Q2 expectations even though its earnings fell under 2016 levels and the stock dipped. The company actively participated in Barclays Global Consumer Staples Conference while addressing strategic leadership changes. HRL's ownership remained divided, with institutions owning 43% and a foundation controlling 47%. The performance reflected in substantial five-year shareholder returns reduction.
Hormel Foods Corporation HRL News Analytics from Fri, 08 Nov 2024 08:00:00 GMT to Sat, 13 Sep 2025 18:14:05 GMT -
Rating -3
- Innovation 0
- Information 5
- Rumor -5
