Hormel Stock: Buy, Sell, or Hold?
Shares of Hormel Foods (NYSE: HRL) are down around 40% from their 2022 high-water mark. But the stock rocketed higher by around 15% after the company reported its fiscal 2024 first-quarter earnings results on Feb. 29. Is this the sign that it's time to buy or should investors sell on what appears to have been good news?
Here's a quick look at the buy, sell, hold logic with Hormel.
There's no way to sugarcoat it, Hormel has been dealing with very real headwinds. There are some issues that are being experienced across the consumer staples sector, like rising input costs and increasing labor expenses. But there are also company-specific problems that have to be considered.
Source Fool.com
