In today’s session Hormel Foods Corp (HRL) registered an unusually high (1,806) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious HRL increase. With 1,806 contracts traded and 6934 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: HRL161216C00035000 closed last at: $1.15 or 34.3% down. About 948,821 shares traded hands. Hormel Foods Corp (NYSE:HRL) has declined 5.23% since April 21, 2016 and is downtrending. It has underperformed by 10.56% the S&P500.
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. $80 is the highest target while $38 is the lowest. The $61.38 average target is 70.69% above today’s ($35.96) stock price. Hormel Foods Corporation has been the topic of 20 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of Hormel Foods Corp (NYSE:HRL) has “Neutral” rating given on Wednesday, November 25 by Credit Suisse. The company was initiated on Wednesday, December 16 by Jefferies. The stock of Hormel Foods Corp (NYSE:HRL) earned “Perform” rating by Oppenheimer on Friday, September 16. The stock of Hormel Foods Corp (NYSE:HRL) has “Underperform” rating given on Thursday, February 18 by CLSA. The stock of Hormel Foods Corp (NYSE:HRL) has “Neutral” rating given on Monday, October 19 by Buckingham Research. On Wednesday, July 27 the stock rating was maintained by Jefferies with “Hold”. BB&T Capital downgraded the shares of HRL in a report on Tuesday, April 5 to “Underweight” rating. The firm has “Outperform” rating given on Friday, August 19 by BMO Capital Markets. Deutsche Bank downgraded Hormel Foods Corp (NYSE:HRL) on Monday, December 14 to “Hold” rating. On Tuesday, August 25 the stock rating was upgraded by Zacks to “Hold”.
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 1.11 in 2016 Q2. Its down 0.04, from 1.15 in 2016Q1. The ratio dropped, 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.
Boothbay Fund Ltd Liability Co accumulated 6,563 shares or 0.11% of the stock. Raymond James Inc accumulated 139,379 shares or 0.05% of the stock. Qs Lc has invested 0.02% of its portfolio in Hormel Foods Corp (NYSE:HRL). Calvert Invest Management Inc last reported 0.04% of its portfolio in the stock. Blair William And Il accumulated 26,120 shares or 0.01% of the stock. Sigma Investment Counselors reported 65,607 shares or 0.41% of all its holdings. Cls Ltd Com has invested 0.04% of its portfolio in Hormel Foods Corp (NYSE:HRL). The Illinois-based Northern Corp has invested 0.03% in Hormel Foods Corp (NYSE:HRL). The Maryland-based Brown Advisory Incorporated has invested 0% in Hormel Foods Corp (NYSE:HRL). First Midwest Comml Bank Tru Division last reported 64,090 shares in the company. Amer Century Companies holds 0.09% of its portfolio in Hormel Foods Corp (NYSE:HRL) for 2.27M shares. Citigroup holds 0% or 90,641 shares in its portfolio. Us Natl Bank De last reported 0.08% of its portfolio in the stock. Moreover, First Interstate Natl Bank has 0.13% invested in Hormel Foods Corp (NYSE:HRL) for 16,584 shares. Robeco Institutional Asset Mgmt Bv holds 1.70 million shares or 0.47% of its portfolio.
Insider Transactions: Since June 3, 2016, the stock had 0 buys, and 7 insider sales for $3.86 million net activity. BINDER STEVEN G sold $455,743 worth of stock or 12,000 shares. Johnson Brian Dean sold $133,000 worth of Hormel Foods Corp (NYSE:HRL) on Friday, June 3. The insider PIPPINS DAKOTA A sold $183,700. VORPAHL LARRY L also sold $15,152 worth of Hormel Foods Corp (NYSE:HRL) shares. 400 shares were sold by Leitch Glenn R, worth $15,348 on Wednesday, September 28. On Tuesday, August 30 Kremin Donald H sold $3.04M worth of the stock or 80,400 shares. $15,224 worth of Hormel Foods Corp (NYSE:HRL) was sold by Brady Deanna T on Wednesday, September 7.
Hormel Foods Corporation is a multinational maker and marketer of food and meat products. The company has a market cap of $19.53 billion.
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.
More notable recent Hormel Foods Corp (NYSE:HRL) news were published by: Businesswire.com which released: “Hormel Foods Corporation Announces the Sale of Farmer John, Saag’s Specialty …” on November 21, 2016, also Marketwatch.com with their article: “Hormel Foods increases dividend by 17%” published on November 21, 2016, Startribune.com published: “Hormel joins cancer specialists to develop line of ready-made foods for chemo …” on November 20, 2016. More interesting news about Hormel Foods Corp (NYSE:HRL) were released by: Forbes.com and their article: “Hormel Foods Becomes Oversold (HRL)” published on November 10, 2016 as well as Schaeffersresearch.com‘s news article titled: “Buzz Stocks: Dollar Tree, Inc., Hormel Foods Corp, and Star Bulk Carriers Corp.” with publication date: November 22, 2016.
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