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MarketScreener Homepage  >  Equities  >  Nyse  >  Hormel Foods Corporation    HRL

HORMEL FOODS CORPORATION

(HRL)
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Hormel Foods : Burke Corporation Launches New Plant-Based Alternatives

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02/10/2020 | 09:13am EDT

NEVADA, IOWA - Burke Corp. (Nevada, Iowa) a subsidiary of Hormel Foods Corporation (NYSE: HRL) and an industry leader in foodservice fully cooked meat toppings and ingredients, announced the launch of new Burke Alternatives plant-based products available to foodservice operators across the country.

'We know that a growing number of consumers are interested in incorporating more plant-based foods into their diets,' said Amy Thielking, marketing manager at Burke. 'These new products are the perfect way to not only add more plant options to meals, but also still enjoy a great-tasting meal with plant-based ingredients.'

Powered by pea protein, Burke Alternatives include a fully cooked crumble and uncooked ground products with traditional or Italian flavored options, have no allergens and offer versatile flavor that works on any menu.

'The bottom line is that people want to add more plants to their diet, but they also want them to taste great,' Thielking added. 'The new plant-based products are great options for foodservice operators to be able to offer unique and delicious plant-based options for their patrons. These products are ideal for pizza toppings, tacos, sandwiches, soups and more.'

To request a sample, visit https://alternatives.burkecorp.com/plant-based

ABOUT BURKE CORP

Burke Corporation is a leading manufacturer of fully cooked meats, supplying the highest quality products for the foodservice and prepared food industries. Headquartered in Nevada, Iowa, Burke Corporation is a subsidiary of Hormel Foods and manufactures and markets fully cooked meats and meat alternatives to be used as ingredients in a variety of applications - for pizzerias, Italian and casual restaurants, and manufacturers of prepared foods. Throughout more than 40 years in the topping business and 50 years in the pizza industry, Burke has spent decades honing their skills to create the best ingredients and give the customer exactly what they need, consistently. To learn more about Burke, visit www.BurkeCorp.com

ABOUT HORMEL FOODS - INSPIRED PEOPLE. INSPIRED FOOD.

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $9 billion in annual revenues across 75 countries worldwide. Its brands include SKIPPY, SPAM, Hormel Natural Choice, Applegate, Justin's, Columbus, Wholly guacamole, Hormel Black Label and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of 'The 100 Best Corporate Citizens' by Corporate Responsibility Magazine for the 11th year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. In 2016, the company celebrated its 125th anniversary and announced its new vision for the future - Inspired People. Inspired Food. - focusing on its legacy of innovation. For more information, visit www.hormelfoods.com and https://csr.hormelfoods.com/.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 9 688 M
EBIT 2020 1 173 M
Net income 2020 941 M
Finance 2020 472 M
Yield 2020 1,98%
P/E ratio 2020 26,8x
P/E ratio 2021 25,5x
EV / Sales2020 2,55x
EV / Sales2021 2,48x
Capitalization 25 157 M
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Mean consensus HOLD
Number of Analysts 12
Average target price 43,09  $
Last Close Price 46,64  $
Spread / Highest target 9,35%
Spread / Average Target -7,61%
Spread / Lowest Target -27,1%
EPS Revisions
Managers
NameTitle
James P. Snee Chairman, President & Chief Executive Officer
James N. Sheehan Chief Financial Officer & Executive Vice President
Kevin L. Myers Senior Vice President-Research & Development
Dakota A. Pippins Independent Director
Elsa A. Murano Independent Director
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