While competitive dynamics are a challenge, Hormel retains considerable brand strength.
We do not anticipate altering our $36 per share valuation for narrow-moat Hormel materially after it posted first-quarter earnings. Hormel raised its fiscal 2018 diluted EPS guidance to $1.81 to $1.95 from $1.62 to $1.72 (our forecast calls for $1.88), with tax reform benefits offset by turkey segment softness. We believe the turkey challenges (which led to nearly 350 basis points of segment margin deterioration) are transitory, and that the firm can use its brand strength to navigate higher fre...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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