Measured Approach

HORMEL FOODS CORPORATION (NEW YORK: HRL )

Data as of

: 01/22/2010

Industry:

Current Data

Current Price$38.62PEG1.8XMarket Cap ($M)$5,160.7EPS TTM ($)$2.53Shares Outstanding (M)134.0P/E TTM15.3XInstitutional Holdings %28.3%EPS Estimated 2010 ($)$2.67Insider Holdings %48.3%P/Estimated EPS14.5XBeta0.39

MA Value ($)$56.29

Latest Quarter Reported10/25/09Dividend Yield %2.2%

Hormel Foods Corporation, based in Austin, Minn., is a multinationalmanufacturer and marketer of consumer-branded food and meatproducts, many of which are among the best known and trusted in thefood industry. The company leverages its extensive expertise,innovation and high competencies in pork and turkey processing andmarketing to bring quality, value-added brands to the globalmarketplace. The company is a member of the Standard & Poor's 500Index. Hormel Foods was named one of "The 400 Best Big Companiesin America" by Forbes magazine for the 10th consecutive year. Thecompany enjoys a strong reputation among consumers, retail grocers,foodservice and industrial customers for products highly regarded forquality, taste, nutrition, convenience and value. For more information,visithttp://www.hormelfoods.com.Unilever announced that it has signed a definitive agreement withHormel Foods Corporation to sell its Shedd's Country Crock(R) brandedchilled side-dish business in the US. Under the terms of the transaction,Hormel will market and sell Shedd's Country Crock chilled side-dishproducts, such as homestyle mashed potatoes, under a licenseagreement

By the Numbers

Quarterly sales for the last four reported quarters are inconsistent. Forthe quarter ending 01/09, sales stood at $1,689.1 million. Over thenext two quarters they declined to $1,574.4 million and then turned upto $1,675.1 million for the quarter ending 10/09. Reuter’s reportsanalyst estimates for the quarter ending 01/10 may be as high as$1,729.5 million. The decline in the sales (3.3%) may be attributable to a lack of pricingpower in today’s environment. Historically, sales grew at the rate of