HRL - Got $1000? 2 Stocks to Buy for the Long Term
2023-10-04 10:07:00 ET
If your holding period approximates forever, you probably see stock declines as opportunities. That's particularly true for companies that have strong businesses and solid operating histories. Add in historically attractive dividend yields, and you could be describing General Mills (NYSE: GIS) and Hormel Foods (NYSE: HRL) . Here's why long-term investors with $1,000 might want to buy one or both of these iconic consumer staples stocks.
If you look at General Mills as a food maker , you probably aren't thinking about the company broadly enough. That's because its real strength is in brand management. Yes, those brands are all food-related, but it is always buying and selling brands to ensure that its current portfolio of products best aligns with current consumer demand.
Lately that has included things like buying Blue Buffalo (including a subsequent bolt-on pet snack deal), the dominant healthy pet food maker, and selling the Hamburger Helper business.
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Got $1,000? 2 Stocks to Buy for the Long Term