2024-02-08 08:05:00 ET
Summary
- Hormel Foods has seen a substantial drop in price over the past 12 months, driving up its dividend yield to a historically high level.
- HRL has a strong portfolio of household brands, and potential for growth in its foodservice and snacking businesses.
- It could see a meaningful reset in demand drivers this year, as consumer buying patterns normalize and supply chain efficiencies could give profitability a boost.
Many consumer staples stocks haven't had a great past 12 months, as consumer-driven demand during the early COVID years have waned and as higher interest rates have given income investors more options in searching for yield. Plus, with the market chasing growth stocks in the Al sector, there's all the more reasons for investors to turn away from consumer staples....
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Hormel: Discounted Dividend King With Historically High Yield