Price Action to Note: Could Hormel Foods Corp Decline After Today’s Big Increase?

Price Action to Note: Could Hormel Foods Corp Decline After Today's Big Increase?

The stock of Hormel Foods Corp (NYSE:HRL) is a huge mover today! About 1.26 million shares traded hands. Hormel Foods Corp (NYSE:HRL) has declined 13.75% since April 5, 2016 and is downtrending. It has underperformed by 15.71% the S&P500.
The move comes after 8 months positive chart setup for the $20.19 billion company. It was reported on Nov, 8 by Barchart.com. We have $58.83 PT which if reached, will make NYSE:HRL worth $11.51 billion more.

Hormel Foods Corp (NYSE:HRL) Ratings Coverage

Out of 10 analysts covering Hormel Foods Corporation (NYSE:HRL), 4 rate it a “Buy”, 2 “Sell”, while 4 “Hold”. This means 40% are positive. Hormel Foods Corporation has been the topic of 20 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm earned “Perform” rating on Friday, September 16 by Oppenheimer. The firm has “Hold” rating by Deutsche Bank given on Monday, December 14. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Hold”. The rating was upgraded by Edward Jones to “Buy” on Wednesday, August 24. The rating was downgraded by Stephens to “Equal Weight” on Thursday, September 17. The firm earned “Hold” rating on Wednesday, July 27 by Jefferies. The firm has “Hold” rating by BB&T Capital given on Wednesday, September 9. Credit Suisse maintained Hormel Foods Corp (NYSE:HRL) on Wednesday, November 25 with “Neutral” rating. As per Monday, August 22, the company rating was upgraded by Credit Suisse. The company was upgraded on Wednesday, November 25 by Stephens.

According to Zacks Investment Research, “Hormel Foods Corporation is a multinational manufacturer and marketer of consumer-branded meat and food products, many of which are among the best known and trusted in the food industry. Products manufactured by the corporation include hams, bacon, sausages, franks, canned luncheon meats, stews, chilies, hash, meat spreads, shelf-stable microwaveable entrees, salsas and frozen processed foods. These selections are sold to retail, foodservice and wholesale operations under many well-established trademarks some include BLACK LABEL, CHI-CHI’S, DINTY MOORE, & HORMEL.”

Insitutional Activity: The institutional sentiment decreased to 1.15 in Q2 2016. Its down 6.42, from 7.57 in 2016Q1. The ratio worsened, as 66 funds sold all Hormel Foods Corp shares owned while 141 reduced positions. 58 funds bought stakes while 180 increased positions. They now own 173.55 million shares or 50.49% less from 350.56 million shares in 2016Q1.
The Tennessee-based Ftb Advisors Inc has invested 0.01% in Hormel Foods Corp (NYSE:HRL). Blackrock reported 912,582 shares or 0.05% of all its holdings. Calvert Mgmt owns 20,893 shares or 0.04% of their US portfolio. Stevens Capital Lp last reported 0.17% of its portfolio in the stock. Eulav Asset Management last reported 498,000 shares in the company. Investec Asset Mgmt Limited reported 89,653 shares or 0.02% of all its holdings. United Serv Automobile Association holds 0.01% of its portfolio in Hormel Foods Corp (NYSE:HRL) for 83,317 shares. Wfg Advisors L P owns 2,933 shares or 0.03% of their US portfolio. Creative Planning, a Kansas-based fund reported 133,730 shares. Mitsubishi Ufj Tru Banking has 0.05% invested in the company for 611,695 shares. Virginia Retirement Systems Et Al reported 391,476 shares or 0.21% of all its holdings. Pittenger & Anderson Inc reported 81,975 shares or 0.33% of all its holdings. Nexus Inv Mgmt Incorporated last reported 0.04% of its portfolio in the stock. Carlson Ltd Partnership, a Texas-based fund reported 625,587 shares. Verition Fund Lc has invested 0.09% of its portfolio in Hormel Foods Corp (NYSE:HRL).

Insider Transactions: Since June 3, 2016, the stock had 0 insider purchases, and 7 insider sales for $3.86 million net activity. 5,000 shares were sold by PIPPINS DAKOTA A, worth $183,700 on Friday, July 1. Leitch Glenn R also sold $15,348 worth of Hormel Foods Corp (NYSE:HRL) shares. BINDER STEVEN G sold $455,743 worth of stock or 12,000 shares. VORPAHL LARRY L sold $15,152 worth of stock or 400 shares. Another trade for 3,500 shares valued at $133,000 was sold by Johnson Brian Dean. Another trade for 400 shares valued at $15,224 was made by Brady Deanna T on Wednesday, September 7. Kremin Donald H sold $3.04M worth of Hormel Foods Corp (NYSE:HRL) on Tuesday, August 30.

Another recent and important Hormel Foods Corp (NYSE:HRL) news was published by Forbes.com which published an article titled: “Ex-Dividend Reminder: Thor Industries, Hormel Foods and Colgate-Palmolive” on October 18, 2016.

HRL Company Profile

Hormel Foods Corporation, incorporated on September 20, 1928, is engaged in the production of a range of meat and food products and the marketing of those products throughout the United States and internationally. The Firm operates through five divisions: Grocery Products, Refrigerated Foods, Jennie-O Turkey Store (JOTS), Specialty Foods, and International & Other. The Company’s products consist of meat and other food products. The meat products are sold fresh, frozen, cured, smoked, cooked and canned. Internationally, the Company markets its products through its subsidiary, Hormel Foods International Corporation (HFIC). The Firm offers its products under perishable, poultry, shelf-stable and miscellaneous categories. The Perishable category includes fresh meats, frozen items, refrigerated meal solutions, sausages, hams, wieners, guacamole and bacon. The Poultry category is composed of JOTS products. The Shelf-stable category includes canned luncheon meats, shelf-stable microwaveable meals, stews, chilies, hash, meat spreads, flour and corn tortillas, salsas, tortilla chips, peanut butter and other items that do not require refrigeration. The Miscellaneous category consists of nutritional food products and supplements, sugar and sugar substitutes, dessert and drink mixes, and industrial gelatin products.

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