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Hormel Foods Corp. (NYSE:HRL) shares reached a new 52-week high on Friday , ARN reports. The company traded as high as $49.87 and last traded at $49.73, with a volume of 438,370 shares changing hands. The stock had previously closed at $49.52.

Separately, analysts at Zacks reiterated a “neutral” rating on shares of Hormel Foods Corp. in a research note on Monday, June 2nd. They now have a $52.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $48.43.

The stock’s 50-day moving average is $48.51 and its 200-day moving average is $46.80. The company has a market cap of $13.136 billion and a price-to-earnings ratio of 23.69.

Hormel Foods Corp. (NYSE:HRL) last released its earnings data on Wednesday, May 21st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.24 billion. During the same quarter in the previous year, the company posted $0.46 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, analysts predict that Hormel Foods Corp. will post $2.19 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Shareholders of record on Monday, July 21st will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, July 17th.

In other Hormel Foods Corp. news, Director Dakota A. Pippins sold 1,577 shares of the stock on the open market in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $48.45, for a total value of $76,405.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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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