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Hormel Foods Raises Dividend 17%, But Trades At A Premium P/E

|Includes: Hormel Foods Corporation (HRL)

 

Hormel Foods' (NYSE:HRL) dividend was increased by a solid 17% last week. Its overall yield is 1.92%. The firm has paid a dividend since February of 1993.

Hormel Foods Incorporated is a global maker and marketer of consumer-branded meat and food products. Hormel manufactures and distributes a wide range of basic food products primarily in the meat segment including Spam, Jennie-O Turkey, Little Sizzlers, Cure 81, and Chi Chi's. Poultry products like turkey and perishable account for the majority of sales. The firm distributes products to supermarkets and independent food stores across the United States and maintains a smaller international presence. Hormel Foods was founded in 1891 and is based in Austin, Minnesota. One item of note is that Jeffrey M. Ettinger retired as chief executive officer on October 30, 2016. Ettinger will continue to serve as Hormel Foods chairman of the board. The Board of Directors elected James P. Snee to be the company's next chief executive officer, effective October 31, 2016.

Hormel Foods has maintained a solid three-year growth rate of dividends of 19.5 percent. Hormel Foods currently ranks 1st in yield within the large cap consumer goods, meat products category. The quarterly dividend for the January payment will be $0.17 versus ...............

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Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.