Hormel Foods’ Stock Is on Pace for Its Worst Day Since 2008

Shares of Hormel Foods fell after the food maker laid out a three-year plan that includes a handful of financial targets and reached a new deal with workers represented by the United Food and Commercial Workers International Union. The company on Thursday held an investor day and posted an accompanying presentation Thursday morning that lays out some long-term financial targets. Hormel plans to grow operating income by more than $250 million by fiscal 2026, including 5% to 7% growth from the current business.