The stock of Hormel Foods Corp (NYSE:HRL) is a huge mover today! About 2.42 million shares traded hands or 4.76% up from the average. Hormel Foods Corp (NYSE:HRL) has declined 16.28% since March 3, 2016 and is downtrending. It has underperformed by 24.63% the S&P500.
The move comes after 6 months positive chart setup for the $19.74 billion company. It was reported on Oct, 6 by Barchart.com. We have $58.11 PT which if reached, will make NYSE:HRL worth $10.86B 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 rating was maintained by Credit Suisse on Wednesday, November 25 with “Neutral”. The stock has “Underperform” rating given by CLSA on Thursday, February 18. The stock has “Outperform” rating given by BMO Capital Markets on Friday, August 19. The rating was downgraded by Deutsche Bank to “Hold” on Monday, December 14. The rating was downgraded by Stephens on Thursday, September 17 to “Equal Weight”. Edward Jones upgraded the stock to “Buy” rating in Friday, September 16 report. Jefferies maintained Hormel Foods Corp (NYSE:HRL) rating on Wednesday, July 27. Jefferies has “Hold” rating and $38 price target. The firm has “Hold” rating by BB&T Capital given on Wednesday, September 9. Edward Jones upgraded the shares of HRL in a report on Wednesday, August 24 to “Buy” rating. The rating was upgraded by Credit Suisse on Monday, August 22 to “Outperform”.
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 is negative, 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.
Ls Investment Advsr Limited Liability accumulated 0.2% or 80,549 shares. Moreover, Savings Bank Of America Corporation De has 0.01% invested in Hormel Foods Corp (NYSE:HRL) for 594,781 shares. The Texas-based Employees Retirement Sys Of Texas has invested 0.02% in Hormel Foods Corp (NYSE:HRL). Pension Serv holds 0.07% or 211,709 shares in its portfolio. Moreover, First Tru Advsr Lp has 0.2% invested in Hormel Foods Corp (NYSE:HRL) for 1.70 million shares. Oppenheimer, a New York-based fund reported 118,431 shares. The New York-based Grandfield & Dodd Ltd Liability has invested 3.76% in Hormel Foods Corp (NYSE:HRL). Tower Rech Ltd Liability Co (Trc) last reported 0% of its portfolio in the stock. Wfg Ltd Partnership accumulated 2,933 shares or 0.03% of the stock. Sumitomo Mitsui Asset Management Co Ltd accumulated 27,845 shares or 0.03% of the stock. Icon Advisers has invested 0.06% of its portfolio in Hormel Foods Corp (NYSE:HRL). The New York-based Family Management has invested 2.13% in Hormel Foods Corp (NYSE:HRL). Loomis Sayles & Ltd Partnership accumulated 289 shares or 0% of the stock. Products Prns Limited Liability Com holds 205,200 shares or 0.59% of its portfolio. Shell Asset Management Company accumulated 62,038 shares or 0.05% of the stock.
Insider Transactions: Since June 3, 2016, the stock had 0 buys, and 6 selling transactions for $3.41 million net activity. PIPPINS DAKOTA A also sold $183,700 worth of Hormel Foods Corp (NYSE:HRL) on Friday, July 1. 400 shares were sold by Leitch Glenn R, worth $15,348 on Wednesday, September 28. The insider VORPAHL LARRY L sold 400 shares worth $15,152. The insider Johnson Brian Dean sold 3,500 shares worth $133,000. Brady Deanna T sold $15,224 worth of Hormel Foods Corp (NYSE:HRL) on Wednesday, September 7. On Tuesday, August 30 the insider Kremin Donald H sold $3.04 million.
Another recent and important Hormel Foods Corp (NYSE:HRL) news was published by Forbes.com which published an article titled: “Tuesday Sector Leaders: Consumer Products, Services” on September 13, 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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.