Recent Buy – HRL (Hormel Foods)

Recent Buy: 8/24/17

Today, I purchased 21 shares of HRL (Hormel Foods) for $31.99/share or $671.83 in total capital. I had 0 shares of HRL prior to this purchase, so my total shares are 21. This increases my forward dividends by $21.53/year.

Hormel Foods released their earnings report for the 3rd Quarter before the market opened this morning and people weren’t pleased, to say the least. The stock immediately dropped about 6%, creating a great level to start or add to a position.

Revenue for Q3 came in at $2.21 billion, a 3.9% decrease from the same time last year and $30 million less than expected by analysts. Hormel also announced a $425 million acquisition of Fontanini Italian Meats & Sausages.

Dividend Yield: 1.98%.        Total Forward Dividends: $668.07

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