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Why should you keep an eye on Hormel Foods Corp. (HRL)?

Hormel Foods Corp. (NYSE: HRL) is 8.94% higher on its value in year-to-date trading and has touched a low of $28.51 and a high of $41.73 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The HRL stock was last observed hovering at around $34.89 in the last trading session, with the day’s gains setting it 0.09%.

Currently trading at $34.98, the stock is 2.22% and 9.80% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.23 million and changing 0.26% at the moment leaves the stock -0.23% off its SMA200. HRL registered -10.99% loss for a year compared to 6-month loss of -8.02%. The firm has a 50-day simple moving average (SMA 50) of $1.77 and a 200-day simple moving average (SMA200) of $15.91.

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The stock witnessed a -0.96% gain in the last 1 month and extending the period to 3 months gives it a 9.52%, and is 1.75% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.06% over the week and 1.69% over the month.

Hormel Foods Corp. (HRL) has around 20000 employees, a market worth around $19.16B and $12.14B in sales. Current P/E ratio is 24.14 and Fwd P/E is 20.77. Profit margin for the company is 6.55%. Distance from 52-week low is 22.69% and -16.18% from its 52-week high. The company has generated returns on investments over the last 12 months (7.79%).

Hormel Foods Corp. quarterly earnings per share for the current quarter are estimated at $0.36 with sales reaching $2.97B over the same period.The EPS is expected to shrink by -1.18% this year, but quarterly earnings will post 1.40% year-over-year.

Hormel Foods Corp. (HRL) Top Institutional Holders

921 institutions hold shares in Hormel Foods Corp. (HRL), with institutional investors hold 89.43% of the company’s shares. The shares outstanding are 546.60M, and float is at 289.37M with Short Float at 3.68%. Institutions hold 89.23% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 35.44 million shares valued at $1.43 billion. The investor’s holdings represent 6.48% of the HRL Shares outstanding. As of Jun 29, 2023, the second largest holder is State Street Corporation with 27.87 million shares valued at $1.12 billion to account for 5.10% of the shares outstanding. The other top investors are Blackrock Inc. which holds 27.69 million shares representing 5.07% and valued at over $1.11 billion, while Capital International Investors holds 2.47% of the shares totaling 13.47 million with a market value of $541.84 million.

Hormel Foods Corp. (HRL) Insider Activity

The most recent transaction is an insider sale by Coffey Mark A,the company’sGROUP VICE PRESIDENT. SEC filings show that Coffey Mark A sold 15,400 shares of the company’s common stock on Mar 28 ’24 at a price of $35.00 per share for a total of $0.54 million. Following the sale, the insider now owns 68029.0 shares.

Hormel Foods Corp. disclosed in a document filed with the SEC on Mar 28 ’24 that Myers Kevin L (SENIOR VICE PRESIDENT) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Mar 28 ’24 and was made at $34.95 per share for $0.35 million. Following the transaction, the insider now directly holds 38708.0 shares of the HRL stock.

Still, SEC filings show that on Mar 08 ’24, Coffey Mark A (GROUP VICE PRESIDENT) disposed off 15,400 shares at an average price of $34.18 for $0.53 million. The insider now directly holds 68,029 shares of Hormel Foods Corp. (HRL).

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