Hormel Foods Corp. [NYSE: HRL] plunged by -$0.76 during the normal trading session on while it closed the day at $33.72. The company report on March 13, 2024 at 8:00 AM that Hormel Foods Expects to Once Again Wow the Crowd at International Pizza Expo with its Latest Pizza-Topping Innovation: HORMEL® Ribbon Pepperoni.
With buzz already building around the new product, Hormel Foods anticipates HORMEL® Ribbon Pepperoni to be a showstopper in Las Vegas.
Hormel Foods takes its role as a leader in the pizza and foodservice industries seriously, and this spring, the company is once again positioned as a trend setter. Those attending next week’s International Pizza Expo in Las Vegas will get to witness this expertise firsthand with the unveiling of HORMEL® Ribbon Pepperoni, the latest food-forward innovation from the pizza-topping experts at Hormel Foods.
Hormel Foods Corp. stock has also loss -0.74% of its value over the past 7 days. However, HRL stock has inclined by 6.51% in the 3 months of the year. Over the past six months meanwhile, it has lost -10.20% and gained 5.01% year-on date.
The market cap for HRL stock reached $18.47 billion, with 546.60 million shares outstanding and 289.37 million shares in the current float. Compared to the average trading volume of 3.25M shares, HRL reached a trading volume of 3273190 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about 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 $31.74 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 3.54. 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 0.79, with the Price to Sales ratio for HRL stock in the period of the last 12 months amounting to 1.52. The Price to Book ratio for the last quarter was 2.35, with the Price to Cash per share for the same quarter was set at 1.79. Price to Free Cash Flow for HRL in the course of the last twelve months was 19.08 with Quick ratio for the last quarter at 0.79.
HRL stock trade performance evaluation
Hormel Foods Corp. [HRL] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.74. With this latest performance, HRL shares gained by 17.41% in over the last four-week period, additionally sinking by -10.20% over the last 6 months – not to mention a drop of -14.22% 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 60.14, with the RSI for the last a single of trading hit 58.84, and the three-weeks RSI is set at 59.09 for Hormel Foods Corp. [HRL]. The present Moving Average for the last 50 days of trading for this stock 31.36, while it was recorded at 34.13 for the last single week of trading, and 35.35 for the last 200 days.
Hormel Foods Corp. [HRL]: An insightful look at the core fundamentals
Hormel Foods Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.79 and a Current Ratio set at 1.49.
Earnings per share (EPS) analysis for Hormel Foods Corp. [HRL] stock
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 0.4/share. 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 7.40%.
Hormel Foods Corp. [HRL]: Institutional Ownership
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%.
