2 Years Into the Pandemic, I'm Buying More of This Stock

I first bought Hormel Foods (NYSE: HRL) stock in 2017 when it was yielding around 2%. I recently added a slug more, in late 2021 with the yield at roughly 2%. The yield today is 1.95% and the stock still looks historically attractive.

The only thing is that all through this period the shares have looked fairly expensive by traditional valuation metrics. Here are four reasons I'm happy buying more (via dividend reinvestment every quarter on top of my second direct acquisition) and why you might want to step on board as well.

Hormel's price-to-earnings ratio is a hefty 32 times right now, and price-to-sales is roughly 2.4 times. Price-to-cash flow is nearly 25 times. And price-to-book value is about 4.1 times.

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Source Fool.com