Hormel Foods Corp. (NYSE:HRL) declared a quarterly dividend on Monday, November 21st. Stockholders of record on Tuesday, January 17th will be paid a dividend of 0.17 per share on Wednesday, February 15th. This represents a $0.68 annualized dividend and a dividend yield of 1.95%. This is an increase from Hormel Foods Corp.’s previous quarterly dividend of $0.15.

Hormel Foods Corp. (NYSE:HRL) opened at 34.94 on Tuesday. The stock’s 50 day moving average price is $37.16 and its 200 day moving average price is $36.78. The firm has a market capitalization of $18.49 billion, a PE ratio of 22.69 and a beta of 0.52. Hormel Foods Corp. has a 12 month low of $33.70 and a 12 month high of $45.72.

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

In related news, insider Steven G. Binder sold 12,000 shares of the company’s stock in a transaction on Thursday, October 13th. The shares were sold at an average price of $37.98, for a total value of $455,760.00. Following the completion of the sale, the insider now owns 41,622 shares in the company, valued at approximately $1,580,803.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian Dean Johnson sold 3,500 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 26,119 shares of the company’s stock, valued at approximately $992,522. The disclosure for this sale can be found here. Company insiders own 3.54% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its stake in 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 in the last quarter. Pacer Advisors Inc. boosted its stake in 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 in the last quarter. Lombard Odier Asset Management Europe Ltd purchased a new stake in Hormel Foods Corp. during the third quarter worth approximately $220,000. Veritable L.P. boosted its stake in 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 in the last quarter. Finally, Accuvest Global Advisors purchased a new stake in Hormel Foods Corp. during the second quarter worth approximately $324,000. Institutional investors and hedge funds own 34.56% of the company’s stock.

Several research analysts have recently commented on the company. Zacks Investment Research raised Hormel Foods Corp. from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Monday. Vetr cut shares of Hormel Foods Corp. from a “strong-buy” rating to a “buy” rating and set a $42.00 price objective for the company. in a research report on Monday, October 10th. Credit Suisse Group AG restated an “outperform” rating and issued a $43.00 price objective on shares of Hormel Foods Corp. in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. assumed coverage on shares of Hormel Foods Corp. in a research report on Friday, September 16th. They issued a “market perform” rating and a $39.00 price objective for the company. Finally, Edward Jones upgraded shares of Hormel Foods Corp. from a “hold” rating to a “buy” rating in a research report on Friday, September 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $40.33.

Hormel Foods Corp. Company Profile

5 Day Chart for NYSE:HRL

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