Headquartered in Austin, Minnesota, Hormel Foods Corporation (HRL) develops, processes, and distributes various meats, nuts, and other food products to retail, food service, deli, and commercial customers. Valued at $17.8 billion by market cap, the company’s brands include Planters, Skippy, SPAM, Hormel Natural Choice, Applegate, Justin’s, Wholly, Hormel Black Label, Columbus, Jennie-O, and more than 30 other brands.
Shares of this leading packaged food manufacturer have significantly underperformed the broader market over the past year. HRL has plunged 18% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 27%. In 2024, HRL’s stock is down marginally, compared to the SPX’s 16.8% rise on a YTD basis.
