Hormel Foods Corporation (HRL) to Issue Quarterly Dividend of $0.29 on August 17th

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

Hormel Foods has increased its dividend payment by an average of 0.0%per year 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% indicating that its dividend is sufficiently covered by earnings. Equities 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

Shares of NYSE HRL opened at $20.40 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.66 and a quick ratio of 1.37. The stock’s fifty day moving average price is $21.62 and its two-hundred day moving average price is $22.98. Hormel Foods has a one year low of $19.70 and a one year high of $31.86. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 2.80 and a beta of 0.33.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Hormel Foods had a return on equity of 9.38% and a net margin of 4.03%.The firm had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.07 billion. During the same period in the prior year, the firm posted $0.35 EPS. The company’s revenue for the quarter was up 1.3% on a year-over-year basis. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, equities analysts forecast that Hormel Foods will post 1.41 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on HRL. 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 research report on Thursday, April 9th. Stephens upped their target price on Hormel Foods from $25.00 to $27.00 and gave the company an “equal weight” rating in a research report on Friday, February 27th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Hormel Foods in a research report on Tuesday, April 21st. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus 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.