Hormel Foods Corp.’s recent filing unveils that its SENIOR VICE PRESIDENT Myers Kevin L unloaded Company’s shares for reported $0.33 million on Sep 18 ’24. In the deal valued at $32.70 per share,10,000 shares were sold. As a result of this transaction, Myers Kevin L now holds 39,050 shares worth roughly $1.22 million.
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Then, Myers Kevin L bought 14,800 shares, generating $489,880 in total proceeds.
Before that, Brady Deanna T sold 51,600 shares. Hormel Foods Corp. shares valued at $1,648,878 were divested by the EXECUTIVE VICE PRESIDENT at a price of $31.95 per share. As a result of the transaction, Brady Deanna T now holds 72,421 shares, worth roughly $2.26 million.
Citigroup upgraded its Hormel Foods Corp. [HRL] rating to a Buy from a a Neutral in a research note published on August 13, 2024; the price target was increased to $37 from $33. A number of analysts have revised their coverage, including JP Morgan’s analysts, who increased its forecast for the stock in late May from “an Underweight” to “a Neutral”. Citigroup began covering HRL with “Neutral” recommendation on February 01, 2024. Argus revised its rating on March 30, 2023. It rated HRL as “a Hold” which previously was an “a Buy”.
Price Performance Review of HRL
On Tuesday, Hormel Foods Corp. [NYSE:HRL] saw its stock fall -0.98% to $31.17. Over the last five days, the stock has lost -3.71%. Hormel Foods Corp. shares have fallen nearly -2.93% since the year began. Nevertheless, the stocks have fallen -19.89% over the past one year. While a 52-week high of $39.25 was reached on 05/20/24, a 52-week low of $28.51 was recorded on 02/14/24. SMA at 50 days reached $32.03, while 200 days put it at $32.39.
Levels Of Support And Resistance For HRL Stock
The 24-hour chart illustrates a support level at 30.98, which if violated will result in even more drops to 30.79. On the upside, there is a resistance level at 31.49. A further resistance level may holdings at 31.81. The Relative Strength Index (RSI) on the 14-day chart is 41.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.54, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 94.37%. Stochastics %K at 44.41% indicates the stock is a holding.
How much short interest is there in Hormel Foods Corp.?
A steep rise in short interest was recorded in Hormel Foods Corp. stocks on 2024-08-30, dropping by -1.02 million shares to a total of 7.91 million shares. Yahoo Finance data shows the prior-month short interest on 2024-07-31 was 8.93 million shares. There was a decline of -12.92%, which implies that there is a negative sentiment for the stock.
