Hormel Foods Announces Retirement of Two Long-Tenured Executives, Significant Impact Expected
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Executive Retirements: Hormel Foods Corporation announces the upcoming retirements of Mark Morey, VP of operations for fresh pork, and Paul Peil, VP of marketing for fresh and ready meats, both of whom have served over 30 years, driving growth and transformation in their respective areas.
- Leadership Contributions: Morey has enhanced customer focus and operational efficiency across sales, marketing, and operations, while Peil has been instrumental in advancing marketing strategy and strengthening customer relationships, significantly boosting team performance.
- Business Impact: Their leadership has established a strong foundation for Hormel Foods in a competitive market, and their retirements are expected to have a profound impact on the company's future, particularly in the strategy for fresh meat products.
- Company Vision: Hormel Foods is committed to maintaining its competitiveness in the global food industry through ongoing leadership and innovation, continuing to rely on the solid foundation laid by Morey and Peil for future growth.
Analyst Views on HRL
Wall Street analysts forecast HRL stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for HRL is 27.17 USD with a low forecast of 25.00 USD and a high forecast of 31.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
6 Analyst Rating
3 Buy
3 Hold
0 Sell
Moderate Buy
Current: 23.230
Low
25.00
Averages
27.17
High
31.00
Current: 23.230
Low
25.00
Averages
27.17
High
31.00
About HRL
Hormel Foods Corporation is a global-branded food company. The Company develops, processes, and distributes a range of food products in a variety of markets. Its segments include Retail, Foodservice, and International. The Retail segment is primarily engaged in the processing, marketing, and sale of food products sold predominantly in the retail market. This segment also includes the Company’s MegaMex Foods, LLC joint venture. The Foodservice segment consists primarily of the processing, marketing, and sale of food products to foodservice, convenience store, and commercial customers located in the United States. The International segment processes, markets, and sells its products internationally. This segment also includes the results from the Company’s international joint ventures, international equity method investments, and international royalty arrangements. It has a global presence within several major international markets, including Australia, Brazil, Canada, China, and England.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
