Turkey struggles obscure solid performance across the rest of Hormel’s businesses.
We plan a high-single-digit percentage uptick for our $33 per share valuation for narrow-moat Hormel after it posted on-track second-quarter earnings, reflecting our expectations for fiscal 2019 U.S. corporate tax reform. Through the first half, Hormel posted a 2.7% sales decline against a 15% operating margin, versus our full-year calls for a 2% revenue dip and a 15% profitability mark. Management said that it expects full-year results to track toward the low end of its reaffirmed $1.65-$1.71 f...Hormel Foods is primarily engaged in the production of meat and food products and the marketing of those products throughout the United States and internationally. The company's segments are: Grocery Products, which consists of the processing, marketing, and sale of shelf-stable food products; Refrigerated Foods, which consists of the processing, marketing, and sale of branded and unbranded pork, beef, chicken, and turkey products; Jennie-O Turkey Store, which consists of the processing, marketing, and sale of branded and unbranded turkey products; and International and Other, which includes Hormel Foods International Corporation that manufactures, markets, and sells the company's products internationally.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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