I remain upbeat about the shares of Hormel Foods, a multinational manufacturer and marketer of consumer-branded food and meat products. Hormel Foods follows an innovation-based growth strategy, under which it invests considerable amount of money to develop a non-imitable product portfolio. Favorable input pricing and strategic cost-saving programs support the company’s widening margins. Going forward, I expect such strategies to successfully enhance the company's top- and bottom-line figures. Furthermore, Hormel Foods attempts to enhance the popularity of its products through variable marketing programs; while making constant efforts to expand its operational scale via several inorganic growth programs. In July, Hormel Foods finalized the acquisition of Applegate, which should expand the company’s offerings in the high-growth natural and organic meat category, allowing it to reach even more consumers with the Applegate brand. The company’s financials for its fiscal 2015 third quarter were decent. Revenues decreased 4% due to the avian influenza outbreak that posed several supply-chain challenges, and stronger dollar. However, operating margin expanded 120 basis points, and adjusted earnings per share jumped 10% and slightly surpassed analysts’ average projection. Based on these optimistic factors, Hormel Foods management raised its guidance for full fiscal year 2015 earnings per share to a range of $2.57-2.63 from the previous projection of $2.50-2.60. At the same time, the company’s commitment toward augmenting its shareholders’ wealth continues to boost its brand status in the market. A quarterly dividend is 25 cents per share, which offers annualized dividend yield of 1.6%. Hormel Foods’ shares, in my opinion, look attractive for medium-term investment. Target price is $70. $HRL, Hormel Foods Corporation / 1440