Hormel Foods Corp. [NYSE: HRL] stock went on a downward path that fall over -0.23% on Wednesday, amounting to a one-week price increase of more than 3.67%. The company report on February 28, 2024 at 4:03 PM that Hormel Foods Hosts Student Winners of its 13th Annual Dr. Martin Luther King Jr. Essay Contest.
Hormel Foods team members commemorate MLK Day and Black History Month with an essay competition for elementary and middle school students from across the country.
Three winners of the 13th annual Hormel Foods MLK essay contest visited the company’s World Headquarters on Wednesday, Feb. 28, to read their winning essays to Hormel Foods team members. Three students – Yvanna Lopez from Austin, Minnesota; Madison Blair from Minneapolis, Minnesota; and Aisha Mohamed from Barron, Wisconsin – claimed the top honors among hundreds of entries from 15 schools this year.
Over the last 12 months, HRL stock dropped by -31.18%. The one-year Hormel Foods Corp. stock forecast points to a potential downside of -1.48. The average equity rating for HRL stock is currently 3.46, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $16.86 billion, with 546.60 million shares outstanding and 288.93 million shares in the current float. Compared to the average trading volume of 3.14M shares, HRL stock reached a trading volume of 4662933 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Hormel Foods Corp. [HRL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for HRL shares is $30.38 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on HRL stock is a recommendation set at 3.46. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Hormel Foods Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 01, 2024. The new note on the price target was released on March 30, 2023, representing the official price target for Hormel Foods Corp. stock. Previously, the target price had yet another drop from $47 to $38, while JP Morgan kept a Underweight rating on HRL stock.
The Average True Range (ATR) for Hormel Foods Corp. is set at 0.60, with the Price to Sales ratio for HRL stock in the period of the last 12 months amounting to 1.39. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 1.38. Price to Free Cash Flow for HRL in the course of the last twelve months was 21.68 with Quick ratio for the last quarter at 0.70.
HRL Stock Performance Analysis:
Hormel Foods Corp. [HRL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.67. With this latest performance, HRL shares gained by 0.85% in over the last four-week period, additionally sinking by -22.42% over the last 6 months – not to mention a drop of -31.18% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for HRL stock in for the last two-week period is set at 56.94, with the RSI for the last a single of trading hit 64.29, and the three-weeks RSI is set at 52.62 for Hormel Foods Corp. [HRL]. The present Moving Average for the last 50 days of trading for this stock 30.85, while it was recorded at 30.59 for the last single week of trading, and 35.62 for the last 200 days.
Insight into Hormel Foods Corp. Fundamentals:
Hormel Foods Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 1.43.
HRL Stock EPS
With the latest financial reports released by the company, Hormel Foods Corp. posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.45/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -11.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for HRL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Hormel Foods Corp. go to 8.20%.
Hormel Foods Corp. [HRL] Institutonal Ownership Details
The top three institutional holders of HRL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in HRL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in HRL stock with ownership which is approximately 5.8325%.
