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HORMEL FOODS CORPORATION

(HRL)
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Hormel Foods : Donation Helps Fight Hunger in Austin

09/24/2021 | 11:16am EDT

AUSTIN, MINN.- The Austin (Minn.) Plant, the local manufacturing facility owned by Hormel Foods Corporation (NYSE: HRL), announced today that it has donated $10,000 to Hot Meals on Wheels to help fight hunger in the community as part of the company's Hunger Action Month efforts.

The Austin Plant has donated funds to this organization since 2012.

'As a food company, fighting hunger is near and dear to the hearts of our entire team,' said Kari Pollak, plant manager of the Austin Plant. 'Our inspired and dedicated team members make it possible for us to help those in need. We are proud to join Hot Meals on Wheels in fighting hunger in our community.'

This is the 11th consecutive year Hormel Foods has given funds to its locations to share with nonprofits in their respective communities to fight hunger. In 2020, Hormel Foods donated $350,000 to 40 local hunger-relief organizations, bringing the program's total contribution to local hunger-relief efforts to more than $2 million thus far. Through this program as well as COVID-19 donations, disaster-relief efforts and other donations, Hormel Foods contributed $6.4 million in cash and product donations to help address hunger in 2020.

'As a leading corporate citizen, Hormel Foods remains committed to fighting hunger around the world and in the communities where our team members work and live,' said Wendy Watkins, vice president of corporate communications at Hormel Foods. 'By working with organizations at a local level, our locations have found great success in helping meet the needs of their community.'

Additional information about the company's hunger-relief efforts is available in the Hormel Foods Corporate Responsibility Report.

(C) 2021 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2021 11 196 M - -
Net income 2021 917 M - -
Net Debt 2021 2 800 M - -
P/E ratio 2021 25,3x
Yield 2021 2,31%
Capitalization 22 928 M 22 928 M -
EV / Sales 2021 2,30x
EV / Sales 2022 2,11x
Nbr of Employees 20 000
Free-Float 52,4%
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Mean consensus HOLD
Number of Analysts 13
Last Close Price 42,26 $
Average target price 44,55 $
Spread / Average Target 5,42%
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Managers and Directors
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
Pierre Lilly Chief Compliance Officer & Senior Vice President
Elsa A. Murano Independent Director
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