Can Hormel Foods Be a Growth Stock?
Hormel Foods (NYSE: HRL) is a quintessential Dividend Aristocrat. It's a boring, reliable, defensive stock whose portfolio of protein-rich packaged foods has allowed it to raise its dividend payout each year for the last 52 years. In November, it lifted its quarterly dividend by 10%.
While you may be familiar with some of Hormel's products including its namesake chili, bacon, and sliced meats, the company has a wide variety of other brands under its umbrella. These include legacy brands like Spam, Dinty Moore, Chi-Chi's and Jennie-O, and more recent organic additions such as Applegate deli meats and cheeses, Justin's nut butters, and Muscle Milk protein shakes.
At a time when consumers are turning away from legacy food brands and traditional packaged foods in general, those organic food acquisitions give Hormel a profile more like a growth stock rather than that of a staid dividend payer.
Source: Fool.com
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