Hormel Foods Corp. (NYSE:HRL) declared a quarterly dividend on Monday, September 26th. Shareholders of record on Monday, October 24th will be given a dividend of 0.145 per share on Tuesday, November 15th. This represents a $0.58 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Thursday, October 20th.

Hormel Foods Corp. (NYSE:HRL) opened at 37.92 on Friday. The company has a market cap of $20.07 billion, a PE ratio of 24.62 and a beta of 0.57. Hormel Foods Corp. has a 52-week low of $32.75 and a 52-week high of $45.72. The firm’s 50 day moving average is $37.54 and its 200 day moving average is $37.44.

Hormel Foods Corp. (NYSE:HRL) last released its quarterly earnings data on Thursday, August 18th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Hormel Foods Corp. had a net margin of 8.96% and a return on equity of 20.06%. The firm had revenue of $2.30 billion for the quarter, compared to analysts’ expectations of $2.26 billion. During the same quarter in the previous year, the company earned $0.28 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts forecast that Hormel Foods Corp. will post $1.63 EPS for the current fiscal year.

Dividend History for Hormel Foods Corp. (NYSE:HRL)

HRL has been the topic of several research analyst reports. Edward Jones upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Jefferies Group boosted their price target on shares of Hormel Foods Corp. from $34.00 to $38.00 and gave the company a “hold” rating in a research report on Wednesday, July 27th. Vetr upgraded shares of Hormel Foods Corp. from a “buy” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a research report on Tuesday, October 4th. BMO Capital Markets upgraded shares of Hormel Foods Corp. from a “market perform” rating to an “outperform” rating and set a $44.00 price target on the stock in a research report on Friday, August 19th. Finally, Credit Suisse Group AG upgraded shares of Hormel Foods Corp. from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $38.00 to $43.00 in a report on Monday, August 22nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $40.10.

In related news, VP Brian Dean Johnson sold 3,500 shares of the stock in a transaction that occurred on Tuesday, September 27th. The shares were sold at an average price of $38.00, for a total transaction of $133,000.00. Following the transaction, the vice president now owns 26,119 shares in the company, valued at $992,522. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Steven G. Binder sold 12,000 shares of the stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $37.98, for a total transaction of $455,760.00. Following the transaction, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The disclosure for this sale can be found here. 3.54% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of HRL. Van ECK Associates Corp increased its position in shares of Hormel Foods Corp. by 32.8% in the second quarter. Van ECK Associates Corp now owns 2,734 shares of the company’s stock worth $100,000 after buying an additional 676 shares during the period. Pacer Advisors Inc. increased its position in shares of Hormel Foods Corp. by 1.9% in the second quarter. Pacer Advisors Inc. now owns 5,478 shares of the company’s stock worth $200,000 after buying an additional 103 shares during the period. Veritable L.P. increased its position in shares of Hormel Foods Corp. by 3.6% in the second quarter. Veritable L.P. now owns 8,478 shares of the company’s stock worth $310,000 after buying an additional 296 shares during the period. Accuvest Global Advisors bought a new position in shares of Hormel Foods Corp. during the second quarter worth $324,000. Finally, 1832 Asset Management L.P. bought a new position in shares of Hormel Foods Corp. during the second quarter worth $615,000. Institutional investors own 34.09% of the company’s stock.

Hormel Foods Corp. Company Profile

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