Large Outflow of Money Witnessed in Hormel Foods Corporation

Hormel Foods Corporation (HRL) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (0.51 million) in Hormel Foods Corporation (HRL). On Friday, The value of composite uptick trades was $0.18 million, whereas, the value of composite downtick trades was $0.69 million and the ratio between the two was 0.27, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $0.51 million. The negative money flow of ($0.51 million) shows selling on strength. Hormel Foods Corporation (HRL) gained $0.03 intraday at $36.88 and registrered 0.08% for the week.

Hormel

Hormel Foods Corporation (HRL) : The highest level Hormel Foods Corporation (HRL) is projected to reach is $39 for the short term and the lowest estimate is at $26. The consolidated price target from 6 rating analysts who initiate coverage on the stock is $34 and the possibility the share price can swing is $4.97.

Hormel Foods Corporation (NYSE:HRL): stock turned positive on Friday. Though the stock opened at $36.81, the bulls momentum made the stock top out at $37.04 level for the day. The stock recorded a low of $36.75 and closed the trading day at $36.88, in the green by 0.08%. The total traded volume for the day was 1,411,441. The stock had closed at $36.85 in the previous days trading.

In a related news, Pippins Dakota A, Director of HORMEL FOODS CORP /DE/, unloaded 5,000 shares at an average price of $36.74 on July 1, 2016. The total amount of the transaction was worth $183,700, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Hormel Foods Corporation is a multinational manufacturer and marketer of food and meat products. The Company has five segments: Grocery Products, which consists of the processing, marketing and sale of shelf-stable food products sold primarily in the retail market; Refrigerated Foods, which consists of the processing, marketing and sale of branded and unbranded pork and beef products for retail, foodservice and fresh product customers; Jennie-O Turkey Store, which consists of the processing, marketing and sale of branded and unbranded turkey products for retail, foodservice and fresh product customers; Specialty Foods, which consists of the packaging and sale of private label shelf stable products, nutritional products, sugar and condiments to industrial, retail and foodservice customers, and International & Other, which includes the Hormel Foods International operating segment, which manufactures, markets and sells the Company products internationally.

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