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

Hormel Foods Corporation (NYSE:HRL) declared a quarterly dividend on Monday, September 28th. Stockholders of record on Tuesday, October 13th will be given a dividend of $0.2925 per share on Monday, November 16th. This represents a $1.17 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Tuesday, October 13th.

Hormel Foods has raised its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 60 years. Hormel Foods has a dividend payout ratio of 65.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Hormel Foods to earn $1.54 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 76.0%.

Hormel Foods Price Performance

Shares of NYSE HRL opened at $19.96 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 0.92 and a debt-to-equity ratio of 0.30. The firm has a market cap of $10.98 billion, a PE ratio of 31.68, a PEG ratio of 2.31 and a beta of 0.33. Hormel Foods has a 1-year low of $19.42 and a 1-year high of $26.60. The company has a fifty day moving average price of $23.01 and a 200 day moving average price of $22.84.

Hormel Foods (NYSE:HRL) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. Hormel Foods had a net margin of 2.82% and a return on equity of 9.91%. The company had revenue of $2.96 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the business posted $0.35 EPS. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.450-1.510 EPS. Research analysts predict that Hormel Foods will post 1.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HRL has been the subject of several analyst reports. Stephens set a $23.00 price objective on shares of Hormel Foods in a research note on Friday, August 28th. JPMorgan Chase & Co. boosted their price objective on Hormel Foods from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, August 14th. Bank of America lifted their price target on shares of Hormel Foods from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Tuesday, June 30th. BNP Paribas Exane cut their price objective on Hormel Foods from $27.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, August 28th. Finally, Weiss Ratings cut shares of Hormel Foods from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, August 28th. Two investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $26.14.

Hormel Foods Company Profile

Hormel Foods Corporation (NYSE: HRL) is a global food company that develops, produces and markets branded meat, prepared foods and other grocery products. Its portfolio includes SPAM luncheon meat, Hormel pepperoni, Hormel Compleats meals, Jennie-O turkey products, Applegate natural and organic foods, Columbus deli meats and Planters snack products.

The company sells products through retail grocery channels, foodservice operations and international markets. Its offerings are used by consumers, restaurants, schools, hospitals and other institutional customers, with products distributed across the United States and in selected markets worldwide.

Founded in 1891 by George A.