Hormel Declares 2-for-1 Stock Split

The company remains keen on enhancing its shareholders’ value through tactical capital deployment programs. The change was measured at 67,173 shares or 0.8%. The 52-week low of the share price is at $50.06. Hormel Foods Corp has a one year low of $50.06 and a one year high of $73.53.

Hormel Foods on Wednesday said its board authorized a 2-for-1 split of the company’s common stock-the tenth such stock split in the company’s history-a day after it reported a boost in profit during its latest quarter. ( HRL ) reported fourth quarter record non-GAAP adjusted earnings per share of $0.74, up 17 percent from $0.63 per share, a year ago. The business had revenue of $2.40 billion for the quarter, compared to analyst estimates of $2.51 billion. On Tuesday, small cap Fresh Del Monte Produce fell 0.61% to $44.24 (FDP has a 52 week trading range of $31.11 to $47.49 a share) for a market cap of $2.33 billion plus shares are up 31.9% since the start of the year and up 99.7% over the past five years. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share. Stockholders of record on Tuesday, January 19th will be paid a $0.29 dividend. The ex-dividend date is Thursday, January 14th. This represents a $1.16 annualized dividend and a dividend yield of 1.59%. Also, because of different datasources, our reporting and figures may be different then the numbers reported by FactSet and other sources.

Shares hit an all-time high Tuesday.

“Our employees continue to produce and deliver safe, wholesome and high-quality products to our customers and consumers”, said James P. Snee, president and chief operating officer at Hormel Foods. Actual earnings share as last reported was 0.55.

Research firm Zacks has rated Hormel Foods Corporation (NYSE:HRL) and has ranked it at 3, indicating that for the short term the shares are a hold. They set a “hold” rating for the company. The company had a buy rating from 1 analysts. The stock now has an average rating of “Hold” and a consensus price target of $71.50.

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. They expect lower input costs to provide a tailwind for their Grocery Products and Refrigerated Foods value-added businesses in 2016, offsetting modestly lower pork operating margins. That’s not bad considering the World Health Organization cautioned about the hazards of consuming some of the types of meat products Hormel sells. Perishable meat includes fresh meats, refrigerated meal solutions, sausages, hams, wieners, and bacon (excluding JOTS products).