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ANALYST REPORT: HORMEL FOODS CORP. Hormel Foods Corp., based in Austin, Minnesota, produces and markets meat and food products to retail, foodservice, deli, and commercial customers in the
U.S. and internationally. The company is 48%-owned by the Hormel Foundation. The Foundation's priorities are to preserve the independence of the company; support the Austin, Minnesota,
community; and provide for the financial welfare of the family's heirs. The company has approximately 20,000 employees. The shares are a component of the S&P 500.