Hormel Meals Co. (NYSE:HRL) Plans Quarterly Dividend of $0.26

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Hormel Meals Co. (NYSE:HRL – Get Score) declared a quarterly dividend on Monday, September twenty sixth, RTT Information stories. Stockholders of file on Monday, October seventeenth will probably be paid a dividend of 0.26 per share on Tuesday, November fifteenth. This represents a $1.04 annualized dividend and a dividend yield of two.22%.

Hormel Meals has elevated its dividend by a mean of 8.8% yearly over the past three years and has elevated its dividend yearly for the final 56 consecutive years. Hormel Meals has a dividend payout ratio of 52.0% that means its dividend is sufficiently lined by earnings. Equities analysis analysts anticipate Hormel Meals to earn $2.02 per share subsequent 12 months, which suggests the corporate ought to proceed to have the ability to cowl its $1.04 annual dividend with an anticipated future payout ratio of 51.5%.

Hormel Meals Worth Efficiency

Shares of Hormel Meals inventory traded down $0.01 throughout buying and selling hours on Monday, hitting $46.86. The corporate’s inventory had a buying and selling quantity of 1,808,062 shares, in comparison with its common quantity of 1,840,768. The enterprise has a 50 day shifting common worth of $48.54 and a two-hundred day shifting common worth of $49.27. Hormel Meals has a 12-month low of $40.48 and a 12-month excessive of $55.11. The corporate has a market cap of $25.59 billion, a PE ratio of 25.61, a PEG ratio of three.55 and a beta of 0.12. The corporate has a debt-to-equity ratio of 0.45, a fast ratio of 1.21 and a present ratio of two.40.

Hormel Meals (NYSE:HRL – Get Score) final posted its earnings outcomes on Thursday, September 1st. The corporate reported $0.40 EPS for the quarter, lacking analysts’ consensus estimates of $0.41 by ($0.01). The agency had income of $3.03 billion throughout the quarter, in comparison with analysts’ expectations of $3 billion. Hormel Meals had a return on fairness of 13.92% and a web margin of seven.93%. Hormel Meals’s quarterly income was up 6.0% on a year-over-year foundation. Throughout the identical quarter within the prior 12 months, the agency posted $0.39 earnings per share. Analysts anticipate that Hormel Meals will put up 1.81 earnings per share for the present fiscal 12 months.

Wall Avenue Analysts Forecast Development

HRL has been the subject of quite a lot of analysis analyst stories. Stephens decreased their goal worth on Hormel Meals to $52.00 in a analysis report on Tuesday, September sixth. Argus decreased their goal worth on Hormel Meals from $54.00 to $53.00 and set a “purchase” ranking on the inventory in a analysis report on Thursday. Credit score Suisse Group decreased their goal worth on Hormel Meals to $44.00 in a analysis report on Friday, June third. Lastly, Piper Sandler decreased their worth goal on Hormel Meals from $48.00 to $47.00 and set a “impartial” ranking on the inventory in a analysis report on Friday, September 2nd. One equities analysis analyst has rated the inventory with a promote ranking, six have assigned a maintain ranking and one has given a purchase ranking to the corporate. Primarily based on information from MarketBeat.com, the corporate presently has a mean ranking of “Maintain” and a mean goal worth of $48.00.

Insider Shopping for and Promoting at Hormel Meals

In different information, SVP Kevin L. Myers offered 5,000 shares of the corporate’s inventory in a transaction that occurred on Friday, September ninth. The inventory was offered at a mean worth of $47.20, for a complete transaction of $236,000.00. Following the transaction, the senior vp now owns 32,954 shares of the corporate’s inventory, valued at $1,555,428.80. The transaction was disclosed in a authorized submitting with the SEC, which is on the market at this hyperlink. Firm insiders personal 0.78% of the corporate’s inventory.

Institutional Inflows and Outflows

Plenty of hedge funds have just lately modified their holdings of HRL. Renaissance Applied sciences LLC grew its stake in shares of Hormel Meals by 58.1% throughout the first quarter. Renaissance Applied sciences LLC now owns 2,764,663 shares of the corporate’s inventory valued at $142,491,000 after shopping for an extra 1,016,300 shares over the last quarter. Vanguard Group Inc. grew its stake in Hormel Meals by 1.7% within the first quarter. Vanguard Group Inc. now owns 33,500,871 shares of the corporate’s inventory price $1,726,636,000 after buying an extra 547,495 shares within the final quarter. Nationwide Pension Service purchased a brand new place in Hormel Meals within the first quarter price roughly $24,181,000. Bridgewater Associates LP grew its stake in Hormel Meals by 39.6% within the first quarter. Bridgewater Associates LP now owns 873,384 shares of the corporate’s inventory price $45,014,000 after buying an extra 247,605 shares within the final quarter. Lastly, BNP Paribas Arbitrage SA grew its stake in Hormel Meals by 118.4% within the first quarter. BNP Paribas Arbitrage SA now owns 411,451 shares of the corporate’s inventory price $21,206,000 after buying an extra 223,037 shares within the final quarter. Institutional traders personal 39.95% of the corporate’s inventory.

Hormel Meals Firm Profile

(Get Score)

Hormel Meals Company develops, processes, and distributes varied meat, nuts, and meals merchandise to retail, foodservice, deli, and industrial prospects in the USA and internationally. The corporate operates via 4 segments: Grocery Merchandise, Refrigerated Meals, Jennie-O Turkey Retailer, and Worldwide & Different.

Additional Studying

Dividend History for Hormel Foods (NYSE:HRL)

This instantaneous information alert was generated by narrative science know-how and monetary information from MarketBeat in an effort to present readers with the quickest and most correct reporting. This story was reviewed by MarketBeat’s editorial staff previous to publication. Please ship any questions or feedback about this story to contact@marketbeat.com.

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