This Is Hormel's Worst Business Right Now
Protein-focused packaged food maker Hormel Foods (NYSE: HRL) does things its own way, which has been a long-term plus for the consumer staples company. However, one of the key ways in which it has differentiated itself is currently hitting a COVID-19-related headwind.
Here's what's going on, and why it's holding Hormel back at a time when other packaged food makers are benefiting.
The U.S. stock market fell briefly into bear territory in early 2020, driven by fears around the coronavirus pandemic. However, with people socially distancing and staying at home more, this year has been pretty good to makers of packaged foods. But since March 1 (when the market was in the midst of a recessionary downturn), Hormel Foods stock is only up around 12%. That isn't a particularly impressive showing, especially in comparison to its peers.
Source Fool.com
