Hormel Foods Corporation (NYSE:HRL) Announces Quarterly Dividend of $0.29

Hormel Foods Corporation (NYSE:HRL) announced a quarterly dividend on Monday, May 18th. Shareholders of record on Monday, July 13th will be given a dividend of 0.2925 per share on Monday, August 17th. This represents a c) annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Monday, July 13th.

Hormel Foods has raised its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 60 consecutive years. Hormel Foods has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Hormel Foods to earn $1.52 per share next year, which means the company should continue to be able to cover its $1.17 annual dividend with an expected future payout ratio of 77.0%.

Hormel Foods Stock Performance

Hormel Foods stock opened at $20.39 on Tuesday. The stock’s 50 day simple moving average is $21.70 and its two-hundred day simple moving average is $22.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.37 and a current ratio of 2.66. The stock has a market cap of $11.22 billion, a price-to-earnings ratio of 22.91, a PEG ratio of 2.39 and a beta of 0.33. Hormel Foods has a fifty-two week low of $19.70 and a fifty-two week high of $31.86.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.02. Hormel Foods had a return on equity of 9.38% and a net margin of 4.03%.The business had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $3.07 billion. During the same period in the previous year, the firm posted $0.35 EPS. The business’s revenue was up 1.3% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. As a group, analysts expect that Hormel Foods will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HRL has been the subject of several recent research reports. Stephens lifted their target price on shares of Hormel Foods from $25.00 to $27.00 and gave the company an “equal weight” rating in a report on Friday, February 27th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $23.00 target price (down from $28.00) on shares of Hormel Foods in a report on Thursday, April 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a report on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Hormel Foods currently has a consensus rating of “Hold” and an average price target of $27.00.

Hormel Foods Company Profile

Hormel Foods Corporation is a global branded foods company primarily engaged in the production, marketing and distribution of value-added, high-quality meat and food products. The company’s portfolio spans a range of categories including refrigerated and frozen meats, pantry staples, specialty foods and shelf-stable items. Through manufacturing facilities located across North America and international markets, Hormel Foods supplies retail grocers, foodservice operators, convenience stores and e-commerce platforms.

Among its best-known brands, Hormel Foods produces SPAM® canned meats, Jennie-O® turkey products, Skippy® peanut butter and Applegate® natural and organic meats.