If I Could Only Buy 3 Consumer Staples Stocks in the Last Half of 2024, I'd Pick These
1 Dividend Growth Stock Down 45% to Buy Right Now
Food companies are usually pretty boring, but that doesn't mean they can't make you wealthy. Here are three to keep on your radar right now.
Never is a long time, but there really are a few companies that deserve that type of commitment.
Consumer staples companies make small products we buy on a regular basis, creating reliable income streams. PepsiCo has a broadly diversified food business, looks reasonably priced, and has increased its dividend annually for five decades.
Coca-Cola isn't exactly cheap today, but it is well-run and helps provide a growth foundation to your portfolio. PepsiCo looks reasonably priced today and broadens its growing consumer staples business into the food category.
Procter & Gamble went through a business overhaul that worried investors, but now investors love the consumer staples giant again. Hormel Foods is muddling through a difficult period, but it offers a historically high yield backed by 50-plus years of annual dividend increases.
Hormel Foods Co. (NYSE: HRL) is a global branded food company in the consumer staples sector. Its shelf-stable, refrigerated meat and poultry food products are stocked across supermarkets, convenience stores, retailers, commercial kitchens, and food service provider pantries.
Hormel Foods Corporation's recent fiscal Q3 earnings beat expectations by a penny, but revenue fell short by $65M, highlighting slow earnings growth and underperformance relative to the S&P 500. Despite international profit gains and a promising “transform and modernize” plan, Hormel faces ongoing challenges with turkey and commodity costs, impacting overall growth. Hormel's valuation and slow earnings growth make it a less attractive buy, even with a solid dividend yield and strong cash flow management.
Hormel Foods Corporation (NYSE:HRL ) Barclays 17th Annual Global Consumer Staples Conference September 5, 2024 9:45 AM ET Company Participants Jim Snee - Chairman, President & CEO Jacinth Smiley - EVP & CFO Conference Call Participants Unidentified Analyst Said - well it works. Good morning.
Hormel Foods (HRL) shares sank as the food company's sales fell and it cut its outlook on lower prices and factory disruptions.
Hormel Foods Corporation (NYSE:HRL ) Q3 2024 Earnings Conference Call September 4, 2024 9:00 AM ET Company Participants Jess Blomberg - Media Relations Jim Snee - Chairman, President & CEO Jacinth Smiley - EVP & CFO Conference Call Participants Benjamin Theurer - Barclays Bank Kenneth Goldman - JPMorgan Chase Peter Galbo - Bank of America Rupesh Parikh - Oppenheimer Michael Lavery - Piper Sandler Heather Jones - Heather Jones Research Adam Samuelson - Goldman Sachs Operator Good morning, ladies and gentlemen, and welcome to the Hormel Foods Corporation Third Quarter Earnings Conference Call. At this time, all lines are in listen-only mode.