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 4.43% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.35%, 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 4.32% in the last 1 week, and is up 4.83% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Hormel Foods Corporation is up 11.34% in the last 3-month period. Year-to-Date the stock performance stands at -1.11%. The stock has recorded a 20-day Moving Average of 5.45% and the 50-Day Moving Average is 7.33%.
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 $37.25 and $37.12 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $38.70. The buying momentum continued till the end and the stock did not give up its gains. It closed at $38.66, notching a gain of 4.37% for the day. The total traded volume was 5,060,343 . The stock had closed at $37.04 on the previous day.
Also, BMO Capital upgrades its rating on Hormel Foods Corporation (NYSE:HRL). Analysts at the BMO Capital have a current rating of Outperform on the shares. The shares were previously rated Market Perform. The rating by the firm was issued on August 19, 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.