The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Hormel Foods Corp shares valued at $159,246 were purchased by LYKKEN STEVEN J on Dec 06 ’24. At $32.47 per share, LYKKEN STEVEN J acquired 4,904 shares. The insider’s holdings grew to 7,100 shares worth approximately $0.2 million following the completion of this transaction.
Also, LYKKEN STEVEN J sold 9,800 shares, netting a total of over 312,689 in proceeds. Following the sale of shares at $31.91 each, the insider now holds 30,589 shares.
Before that, LYKKEN STEVEN J had added 9,800 shares to its account. In a trade valued at $312,688, the Officer bought Hormel Foods Corp shares for $31.91 each.
As published in their initiating research note from Exane BNP Paribas on October 21, 2024, Hormel Foods Corp [HRL] has been an Underperform and the price target has been revised to $28. As of August 13, 2024, Citigroup has increased its “Neutral” rating to a “Buy” for HRL. Earlier on May 31, 2024, JP Morgan upgraded its rating. Their new recommendation was “a Neutral” for HRL stock which previously was a “an Underweight”.
Analyzing HRL Stock Performance
During the last five days, there has been a drop of approximately -2.53%. Over the course of the year, Hormel Foods Corp shares have dropped approximately -9.05%. Shares of the company reached a 52-week high of $31.95 on 01/27/25 and a 52-week low of $28.52 on 02/12/25. A 50-day SMA is recorded $31.02, while a 200-day SMA reached $31.69. Nevertheless, trading volume fell to 2.66 million shares from 2.42 million shares the previous day.
Support And Resistance Levels for Hormel Foods Corp (HRL)
According to the 24-hour chart, there is a support level at 28.40, which, if violated, would cause prices to drop to 28.28. In the upper region, resistance lies at 28.78. The next price resistance is at 29.03. RSI (Relative Strength Index) is 31.95 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.94, which suggests the price will decrease in the coming days. Percent R is at 99.85%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
