Hormel Foods is a processor of meat and food products. Co.'s business is reported in five segments: Grocery Products, which process, market, and sell shelf-stable food products primarily in the retail market; Refrigerated Foods, which processes markets, and sells pork and beef products; Jennie-O Turkey Store, which processes, markets, and sells turkey products; Specialty Foods, which package and sell sugar and sugar substitute products, salt and pepper products, liquid portion products, dessert mixes, ready-to-drink products, sports nutrition products, gelatin products, and private label canned meats; and All Other, which manufactures, markets, and sells Co.'s products internationally.
Despite first-quarter growth slightly below expectations, I recently encouraged investors to relax and enjoy the market for at least another year until we see any real weakness in stock prices.
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