2023-03-24 05:25:00 ET
After a steep sell-off last year, the S&P 500 index has edged 5% higher year to date. But not all stocks have fared as well so far in 2023.
Shares of the consumer staple company Hormel Foods (NYSE: HRL) have shed 15% of their value thus far for the year. With the stock so beaten down in recent months, it's worth asking: Should passive income investors buy the Dividend King for their portfolios? Let's look at Hormel's fundamentals and valuation to get an answer.
Hormel's products are widely recognized in more than 80 countries. More than 40 of the company's brands are ranked No. 1 or No. 2 in their respective categories, which is a testament to the brand power of Hormel's product portfolio.
For further details see:
Down 15% This Year, Is This Dividend King Still a Buy?