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AUSTIN, Minn. - Hormel Foods Corporation (NYSE:HRL) announced Thursday that PJ Connor, group vice president of Retail sales, will retire in spring 2026 after 30 years with the company. The announcement comes as Hormel’s stock trades near its 52-week low of $21.46, having declined over 28% year-to-date according to InvestingPro data.
Natosha Walsh, currently vice president of Retail sales - West and a 26-year veteran of the company, will succeed Connor upon his retirement.
Connor joined Hormel Foods in 1996 as a sales representative and progressed through various leadership positions. He was named senior vice president of consumer products sales in 2011, promoted to president of consumer products sales in 2019, and assumed his current role as group vice president of Retail sales in 2022.
Walsh, who joined the company in 1999, has held positions across sales, trade and category management, customer account leadership, supply chain and brand management. She was named vice president of Retail sales - national chains in 2022, vice president of marketing - Retail for Convenient Meals and Proteins in 2023, and assumed her current position in 2025.
"PJ has been a tremendous asset to the organization throughout his three-decade long career," said John Ghingo, president of Hormel Foods, in a press release statement. "Natosha is an accomplished and respected leader with broad experience and a deep understanding of our business."
Hormel Foods is a global branded food company with approximately $12 billion in annual revenue, according to the company. Its portfolio includes brands such as PLANTERS, SKIPPY, SPAM, and JENNIE-O. Despite recent market challenges, InvestingPro analysis shows Hormel maintains a 5.4% dividend yield and has raised its dividend for 33 consecutive years. The company operates with moderate debt levels and sufficient cash flow to cover interest payments, earning a "FAIR" overall financial health score. According to InvestingPro’s Fair Value assessment, the stock currently appears undervalued, with analysts forecasting continued profitability this year. Investors can access Hormel’s comprehensive Pro Research Report, one of 1,400+ available for top US equities, for deeper analysis and actionable insights.
In other recent news, Hormel Foods Corporation has announced several key developments. The company reported its third-quarter 2025 earnings, revealing that its earnings per share (EPS) fell short of expectations at $0.35, compared to the forecasted $0.41. However, revenue slightly exceeded projections, coming in at $3.03 billion against the anticipated $2.98 billion. Hormel Foods also issued a warning of earnings pressure in its upcoming fourth quarter, which has garnered attention from investors. Additionally, the company has named Paul Kuehneman as interim Chief Financial Officer, following the departure of Jacinth Smiley. Kuehneman, a veteran with over 30 years at Hormel, will report to interim CEO Jeff Ettinger. These developments come amidst a backdrop of leadership changes and financial adjustments at Hormel Foods.
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