5 Best Dividend Aristocrat Stocks To Buy Now

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1. Hormel Foods Corporation (NYSE:HRL)

Dividend Yield: 4.84%

Number of Hedge Fund Holders: 35

Hormel Foods Corporation (NYSE:HRL) is one of the best dividend aristocrat stocks to buy now.

On May 28, Hormel Foods Corporation (NYSE:HRL) delivered strong second-quarter results characterized by profitable growth and improved performance. The company achieved a sixth consecutive quarter of organic top-line growth and double-digit adjusted earnings growth.

Net sales in the year were up 3% to $2.97 billion, with diluted earnings per share of $0.29 and adjusted earnings per share of $0.40. Hormel Foods Corporation expects full-year net sales to range between $12.2 billion and $12.5 billion, with organic net sales growing by between 1% and 4%. The company has also reaffirmed adjusted diluted earnings per share of $1.43 to $1.51, reflecting growth of 4% to 10%.

During the quarter, the company completed the divestiture of its whole-bird turkey business. The transaction affirmed the company’s strategic shift towards expanding its value-added protein portfolio and reducing exposure to more volatile businesses.

Hormel Foods Corporation (NYSE:HRL) is a multinational branded food company that manufactures and markets a wide variety of meat and grocery products worldwide. Their portfolio spans retail, foodservice, and international markets, supplying everything from canned meals and deli meats to peanut butter.

While we acknowledge the potential of HRL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HRL and that has 100x upside potential, check out our report about the cheapest AI stock.

READ NEXT: 10 UK Stocks with the Highest Dividends and 10 Best Falling Stocks to Invest In According to Analysts.

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