The ex-dividend date for Hormel Foods Corporation (NYSE:HRL) is tomorrow, October 19, 2011. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $28.49 as of 9:30 a.m., the dividend yield is 1.8%.
NEW YORK ( TheStreet) -- The ex-dividend date for Hormel Foods Corporation (NYSE: HRL) is tomorrow, October 19, 2011. Owners of shares as of market close today will be eligible for a dividend of 13 cents per share. At a price of $28.49 as of 9:30 a.m. ET, the dividend yield is 1.8%. The average volume for Hormel has been 1.3 million shares per day over the past 30 days. Hormel has a market cap of $7.7 billion and is part of the consumer goods sector and food & beverage industry. Shares are up 12.6% year to date as of the close of trading on Monday. Hormel Foods Corporation, together with its subsidiaries, produces and markets various meat and food products in the United States and Internationally. It offers meat products, including fresh, frozen, cured, smoked, cooked, and canned meat. The company has a P/E ratio of 16.4, equal to the average food & beverage industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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TheStreet Ratings rates Hormel as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, reasonable valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Hormel Ratings Report. See our dividend calendar or top-yielding stocks list.