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

Hormel Foods Corporation (NYSE:HRL) announced a quarterly dividend on Monday, May 18th. Stockholders 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 dividend yield of 5.7%. The ex-dividend date is Monday, July 13th.

Hormel Foods has raised its dividend by an average of 0.0%per year over the last three years and has raised its dividend annually for the last 60 consecutive years. Hormel Foods has a payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 3.3%

Shares of Hormel Foods stock opened at $20.39 on Tuesday. Hormel Foods has a 12-month low of $19.70 and a 12-month high of $31.86. The company 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. The company has a current ratio of 2.66, a quick ratio of 1.37 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average price is $21.70 and its 200-day moving average price is $22.98.

Hormel Foods (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.34 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $0.35 earnings per share. The firm’s revenue was up 1.3% compared to the same quarter last year. Hormel Foods has set its FY 2026 guidance at 1.430-1.510 EPS. On average, equities analysts expect that Hormel Foods will post 1.42 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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