Hormel Foods (NYSE: HRL) is not a name that generates excitement at dinner parties or in investment portfolios.
That is, in a real sense, my entire thesis for why this stock could make you a millionaire over time
The stock trades near $20 a share, down roughly 47% over five years. The valuation hasn’t been this low since the early 2010s. The brands this veteran company manages include Spam, Skippy, Planters, Jennie-O, Applegate, Justin’s, and Hormel Black Label, a portfolio of proteins and snacks that occupy some of the stickiest positions in the American grocery aisle.
These are habitual brands. The consumer who reaches for Skippy peanut butter does not comparison-shop. Neither does the one buying Spam for a recipe they have made for 30 years.