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Hormel NYSE: HRL shares came under intense pressure last year due to rising costs, margin struggles, and lack of growth. The situation raised doubt about dividend growth, long-term outlooks for profits, and valuation now laid to rest.
Hormel Foods (HRL) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.40 per share a year ago.
Shares of Hormel Foods Corp. HRL, -0.23% jumped 4.7% toward an eight-week high in premarket trading Thursday, after the branded food company reported fiscal first-quarter results that beat expectations amid “robust” demand in the foodservice business and strength in Planters snack nuts. Net income for the quarter to Jan. 28 was $218.9 million, or 40 cents a share, after net income of $217.7 million, or 40 cents a share, in the year-ago period.
Hormel has paid and increased its dividend for 58 consecutive years. The company generates most of its profits from its foodservice business segment.
Hormel Foods' (HRL) fiscal first-quarter results are likely to reflect challenges in the International segment, while capacity expansion endeavors bode well.
Hormel (HRL) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Hormel Foods Corporation has underperformed the market and suffered its largest drawdown from peak price. We go over the three main reasons why we are here today - a lofty valuation, dividend growth, and ignoring actual headwinds. We tell you why a bounce is highly probable and offer trades for shorter and longer term timeframes.
Hormel: Discounted Dividend King With Historically High Yield
"Dividend Aristocrats. in the S&P 500 Index… have raised their annual payouts every year for at least 25 consecutive years. "--Kiplinger.com. 67 Aristocrats, screened as of February 5, 2024 represented all eleven Morningstar Sectors. Broker estimated-top-ten net-gains ranged 11.95%-40.69% topped-by APD & ADM.
Hormel Foods (HRL) is battling weakness in the International segment. In addition, inflationary headwinds continue to hurt.