Hormel Foods Corporation (HRL) has been under a strong bear grip, hence the stock is down -2.25% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.06% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.68% in the last 1 week, and is up 4.36% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Hormel Foods Corporation (NYSE:HRL): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $36.81 and $36.75 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $37.04. The buying momentum continued till the end and the stock did not give up its gains. It closed at $36.88, notching a gain of 0.08% for the day. The total traded volume was 1,411,441 . The stock had closed at $36.85 on the previous day.
The stock has recorded a 20-day Moving Average of 2.08% and the 50-Day Moving Average is 3.33%. Hormel Foods Corporation has dropped 1.68% during the last 3-month period . Year-to-Date the stock performance stands at -5.66%.
Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products. The Company has five segments: Grocery Products, which consists of the processing, marketing and sale of shelf-stable food products sold primarily in the retail market; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork and beef products for retail, foodservice and fresh product customers; Jennie-O Turkey Store, which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; Specialty Foods, which consists of the packaging and sale of private label shelf stable products, nutritional products, sugar and condiments to industrial, retail and foodservice customers, and International & Other, which includes the Hormel Foods International operating segment, which manufactures, markets and sells the Company products internationally.