Peter Lynch famously, and successfully, ran Fidelity's Magellan Fund for 13 years, writing several books about the processes and logic of stock picking he used while at the helm. The key features of his approach are to buy what you know, pay a reasonable price for growth, and try to figure out how long a growth runway a company has ahead of it.

Hormel Foods (NYSE: HRL) looks like a good stock selection based on all three of these factors. Let's see why this is a stock Peter Lynch would consider.

Hormel is a branded food producer. Its best-known brand is most likely SPAM, which you may not love, but you most likely know about it -- it's a cultural icon with a loyal global following. But that's just the start of Hormel's 40-plus brand portfolio. This company also manages its namesake brand, Skippy, Dinty Moore, Applegate, Columbus, Herdez, Jennie-O, Lloyd's BBQ, Wholly Guacamole, and the recently added Planters, among others. 

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Source Fool.com