Hormel Foods Corporation (HRL) : Traders are bullish on Hormel Foods Corporation (HRL) as it has outperformed the S&P 500 by a wide margin of 1.13% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.73%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.79% in the last 1 week, and is up 2.18% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.09% and the 50-Day Moving Average is 3.58%. Hormel Foods Corporation (NYSE:HRL): stock turned positive on Friday. Though the stock opened at $36.56, the bulls momentum made the stock top out at $37.1 level for the day. The stock recorded a low of $36.53 and closed the trading day at $37.06, in the green by 1.73%. The total traded volume for the day was 1,720,254. The stock had closed at $36.43 in the previous days trading.
The company Insiders own 3.54% of Hormel Foods Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -4.93% . Institutional Investors own 32.31% of Hormel Foods Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -6.54%. Also, Jefferies maintains its view on Hormel Foods Corporation (NYSE:HRL) according to the research report released by the firm to its investors. The shares have now been rated Hold by the stock experts at the ratings house. Jefferies raises the price target from $34 per share to $38 per share on Hormel Foods Corporation. The rating by the firm was issued on July 27, 2016.
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.