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

Hormel Foods Corporation (NYSE:HRL) declared a quarterly dividend on Monday, September 28th. Shareholders of record on Tuesday, October 13th will be paid a dividend of $0.2925 per share on Monday, November 16th. This represents a $1.17 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date 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 annually for the last 60 consecutive years. Hormel Foods has a dividend payout ratio of 65.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Up 1.2%

Shares of 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. Hormel Foods has a 12 month low of $19.42 and a 12 month high of $26.60. The firm’s 50 day moving average is $23.01 and its 200-day moving average is $22.84. The stock has a market capitalization of $10.98 billion, a PE ratio of 31.68, a P/E/G ratio of 2.31 and a beta of 0.33.

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

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.