Hormel Foods Corp. Plans Quarterly Dividend of $0.20 (HRL)
Hormel Foods Corp. (NYSE:HRL) announced a quarterly dividend on Monday, May 19th, StockRatingsNetwork.com reports. Stockholders of record on Monday, July 21st will be paid a dividend of 0.20 per share on Friday, August 15th. This represents a $0.80 annualized dividend and a dividend yield of 1.63%.
A number of research firms have recently commented on HRL. Analysts at KeyCorp raised their price target on shares of Hormel Foods Corp. from $52.00 to $55.00 in a research note on Wednesday, March 19th. They now have a “buy” rating on the stock. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp. in a research note on Wednesday, March 5th. They now have a $50.00 price target on the stock. Finally, analysts at BMO Capital Markets raised their price target on shares of Hormel Foods Corp. from $49.00 to $53.00 in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $47.38.
Hormel Foods Corp. (NYSE:HRL) traded up 0.22% on Monday, hitting $49.07. The stock had a trading volume of 417,317 shares. Hormel Foods Corp. has a one year low of $37.46 and a one year high of $49.52. The stock’s 50-day moving average is $48.05 and its 200-day moving average is $45.95. The company has a market cap of $12.954 billion and a P/E ratio of 24.00.
Hormel Foods Corp. (NYSE:HRL) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.57 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.58 by $0.01. The company had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.25 billion. Analysts expect that Hormel Foods Corp. will post $2.26 EPS for the current fiscal year.
Hormel Foods Corporation is primarily engaged in the production of a variety of meat and food products and the marketing of those products throughout the United States and internationally.
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