Hormel Foods (HRL): A Dividend King Worth Considering for October’s Capture Strategy

Hormel Foods Corporation (NYSE:HRL) is included among the Best High Yield Stocks to Buy in October.

Hormel Foods Corporation (NYSE:HRL) is an American multinational manufacturer and marketer of processed food. It has three segments: Grocery Products, which is the largest producer of manufactured meat and food products for retail sales in the United States and includes branded retail products such as Planters, SPAM, Skippy, Herdez, Jennie-O and Hormel; Foodservice, which supplies food products for use in restaurants and other foodservice operations; and International, which sells internationally and manages foreign investments.

Hormel Foods Corporation (NYSE:HRL) posted its quarterly earnings results recently. It wasn’t much of a stretch. Analysts had forecast $0.41 per share on $2.98 billion in revenue. The organic products sales increased 6% versus the prior year, and overall revenue grew 4.5%. Still, earnings per share slumped 5.4% year-on-year, and the company added to investor disappointment with soft forward guidance.

On the other hand, for investors seeking income, Hormel Foods Corporation (NYSE:HRL) may be worth a glance, given that it has a dividend policy. The company has been increasing its dividends for 59 years consecutively and has now declared a quarterly dividend of $0.29 per share. The stock offers a dividend yield of 4.69%, as of 27th September.

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Disclosure: None.