Hormel Foods Corporation [HRL] stock was sold by Myers Kevin L at the price of US$0.24 million

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In a filing, Hormel Foods Corporation revealed its SENIOR VICE PRESIDENT Myers Kevin L unloaded Company’s shares for reported $0.24 million on Sep 09. In the deal valued at $47.20 per share,5,000 shares were sold. As a result of this transaction, Myers Kevin L now holds 32,954 shares worth roughly $ 1.55 million.


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Then, Policinski Christopher J. sold 2,110 shares, generating $97,633 in total proceeds. Upon selling the shares at $46.27, the Director now owns 85,254 shares.

Before that, Myers Kevin L sold 5,000 shares. Hormel Foods Corporation shares valued at $225,334 were divested by the SENIOR VICE PRESIDENT at a price of $45.07 per share. As a result of the transaction, Myers Kevin L now holds 32,869 shares, worth roughly $1.55 million.

Goldman downgraded its Hormel Foods Corporation [HRL] rating to a Sell from a a Neutral in a research note published on Monday. PT values the company’s stock at a premium of -6.84 to its Monday closing price. A number of analysts have revised their coverage, including Argus’s analysts, who increased its forecast for the stock in early March from “a Hold” to “a Buy”. JP Morgan also remained covering HRL and has increased its forecast on October 08, 2021 with a “Neutral” recommendation from previously “an Underweight” rating. Argus revised its rating on December 09, 2020. It rated HRL as “a Hold” which previously was an “a Buy”.

Price Performance Review of HRL

On Monday, Hormel Foods Corporation [NYSE:HRL] saw its stock jump 2.06% to $47.01. On the same session, the stock had its day’s lowest price of $46.1653, but rose to a high of $47.14. Over the last five days, the stock has gained 1.21%. Hormel Foods Corporation shares have fallen nearly -3.69% since the year began. Nevertheless, the stocks have risen 8.79% over the past one year. While a 52-week high of $55.11 was reached on 04/21/22, a 52-week low of $41.25 was recorded on 06/16/22. SMA at 50 days reached $46.38, while 200 days put it at $48.61. A total of 1.45 million shares were traded, compared to the trading of 88535.0 shares in the previous session.

Levels Of Support And Resistance For HRL Stock

The 24-hour chart illustrates a support level at 46.40, which if violated will result in even more drops to 45.80. On the upside, there is a resistance level at 47.38. A further resistance level may holdings at 47.75. The Relative Strength Index (RSI) on the 14-day chart is 57.08, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.36, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 6.78%. Stochastics %K at 66.35% indicates the stock is a holding.

How much short interest is there in Hormel Foods Corporation?

A steep rise in short interest was recorded in Hormel Foods Corporation stocks on Jul 14, 2022, growing by 60000.0 shares to a total of 10.85 million shares. Yahoo Finance data shows the prior-month short interest on Jun 14, 2022 was 10.79 million shares. There was a rise of 0.55%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 3.76% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.7.

Hormel Foods Corporation [HRL] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 33,109,723 shares, or roughly 6.06% of the outstanding HRL shares. In other words, the investor’s shares have risen by 766,622 from its previous 13-F filing of 32343101.0. Additionally, SSgA Funds Management, Inc. decreased -2.75% of its stake after which the total value it holdings stand at $1,226,925,167, while BlackRock Fund Advisors added 4.32% of its stake to hold $915.06 million in the firm. Over the last quarter, Capital Research & Management Co sold -635,704 shares of Hormel Foods Corporation, while Geode Capital Management LLC sold 274,448 shares. At present, Principal Global Investors LLC is holding 5,938,151 shares valued at $269.83 million. Mairs & Power, Inc. owned 4,996,466 shares of the company at the time of its most recent 13F filing, worth $227.04 million.

According to FactSet, Hormel Foods Corporation’s share price will average $46.22 in the next year, based on opinions of analysts polled by the firm. This is up nearly 2.04 percent from its previous closing price of $46.06. Analysts expect Hormel Foods Corporation stock to reach the higher price of $52.00, while the lowest price estimate is $38.00. However, 14 analysts have rated HRL stock as a Hold in their predictions for 2022. The most recent change occurred on September 08, 2020 when Seaport Global Securities began covering the stock and recommended ‘”a Neutral”‘ rating.

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