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Shares of Hormel Foods Corporation (HRL - Analyst Report) hit a new 52-week high of $44.13 on Sep 18, and eventually closed just a cent lower at $44.12. Shares of this food products company have been on a rise since it announced improved revenue outlook for the coming quarters.

Year-to-date, share prices have recorded a healthy return of 43.2%. The company’s long-term estimated earnings per share growth rate is 10.1%. Average volume of shares traded over the last three months came in at 683.3K.

Hormel announced 7.5% year over year increase in revenues to $2,159.5 million in the third quarter of fiscal 2013. The year-over-year increase was mainly led by a hike in all the segments, accompanied by the recently acquired Skippy peanut butter line.

Revenues were mainly helped by a 24.6% year over year hike in the Grocery Products segment and 31.4% year over year hike in the International & Other segment in the third quarter of fiscal 2013. Operating margins for all the segments, excluding Refrigerated Foods segment, also increased year over year in the reported quarter.

In view of the current performance, management expects to achieve its targeted earnings per share range of $1.88 to $1.96 in fiscal 2013. It is expected that all the segments, except Specialty Foods, will grow year over year in the fourth quarter of fiscal 2013. Jennie-O Turkey Store segment, which experienced difficult times during the year, is expected to rebound in the next quarter, boosting the total revenue as well as earnings.

Other Stocks to Consider

Hormel currently carries a Zacks Rank #3 (Hold). Other stocks worth a watch in the industry include Amira Nature Foods Ltd. (ANFI - Snapshot Report), Pilgrim's Pride Corporation (PPC - Snapshot Report) and Tyson Foods, Inc. (TSN - Analyst Report). While Amira Nature carries a Zacks Rank #1 (Strong Buy), Pilgrim's Pride and Tyson Foods carry a Zacks Rank #2 (Buy).

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