Hormel Foods Corporation – High Quality, Steady Growth

Summary

  • HRL recently reported its FY2017 results and also announced its 52nd consecutive increase to its annual dividend.
  • Challenges persist in a couple of HRL’s divisions but its diversified portfolio of products and geographic presence mitigates some of the volatility.
  • Growth by acquisition continues with 2 acquisitions completed subsequent to July 2017 and another expected to close December 2017.
  • Shares are not inexpensive but you can typically expect to pay up when you invest in a high quality company with steady long-term growth potential.

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Hormel Foods Corporation Stock Analysis – I Have Added this Dividend King to My FFJ Portfolio

Summary

  • Hormel held its Investor Day June 15, 2017 wherein it provided a great overview of the company`s growth opportunities.
  • HRL`s long-term targets are 5% top-line growth, 10% bottom-line growth, and margins in the top quartile of its peers by 2020.
  • It is one of a few companies which have increased the annual dividend for 50+ consecutive years thus placing it in the exclusive Dividend King group of companies.
  • HRL`s stock price has retraced from a high set in August 2016. Current valuation levels are now reasonable.

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