Hormel Foods Corporation (HRL) : Traders are increasing their bearish positions on the stock, as is visible by the 3.2% jump in the outstanding short positions; a total addition of 871,848 shares on the sell side. On Jul 29, 2016, the total short positions were 26,903,718 shares, which went up to 27,775,566 shares by the close of trading on August 15, 2016. It will take 15 days for the bears to roll over or cover. An average of 1,794,228 shares exchange hands daily. 10.3% of the float of the stock has been sold short by the bears. The short interest information was released on Wednesday Aug 24th after the market close.
Hormel Foods Corporation (NYSE:HRL): The stock opened at $39.22 on Wednesday but the bulls could not build on the opening and the stock topped out at $39.26 for the day. The stock traded down to $38.57 during the day, due to lack of any buying support eventually closed down at $38.66 with a loss of -1.07% for the day. The stock had closed at $39.08 on the previous day. The total traded volume was 2,345,384 shares.
In a related news, Pippins Dakota A, Director of HORMEL FOODS CORP /DE/, unloaded 5,000 shares at an average price of $36.74 on July 1, 2016. The total amount of the transaction was worth $183,700, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
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.