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Do Traders Think Hormel Foods Corp (HRL) Can Turn Around Tuesday?

Tuesday, November 28, 2023 03:25 PM | InvestorsObserver Analysts

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Do Traders Think Hormel Foods Corp (HRL) Can Turn Around Tuesday?

Hormel Foods Corp (HRL) stock is down 0.65% over the past week and gets a Bearish rating from InvestorsObserver Sentiment Indicator.

Sentiment Score - ,bearish
Hormel Foods Corp has a Bearish sentiment reading. Find out what this means for you and get the rest of the rankings on HRL!

What is Stock Sentiment?

Sentiment is a very short-term indicator that is entirely technical. There is no information about the health of profitability of the underlying company in our sentiment score. As a technical indicator, news about the stock, or company, such as an earnings release or other event, could move the stock counter to the recent trend. Sentiment is how investors, or the market, feels about a stock. There are lots of ways to measure sentiment. At the core, sentiment is pretty easy to understand. If a stock is going up, investors must be bullish, while if it is going down, sentiment is bearish. InvestorsObserver’s Sentiment Indicator looks at price trends over the past week and also considers changes in volume. Increasing volume can mean a trend is getting stronger, while decreasing volume can mean a trend is nearing a conclusion. For stocks that have options, our system also considers the balance between calls, which are often bets that the price will go up, and puts, which are frequently bets that the price will fall.

What's Happening With HRL Stock Today?

Hormel Foods Corp (HRL) stock has gained 0.06% while the S&P 500 is down -0.1% as of 3:22 PM on Tuesday, Nov 28. HRL is up $0.02 from the previous closing price of $31.96 on volume of 3,538,115 shares. Over the past year the S&P 500 is up 14.69% while HRL is down -34.88%. HRL earned $1.60 a per share in the over the last 12 months, giving it a price-to-earnings ratio of 20.04.

More About Hormel Foods Corp

Hormel Foods is a protein-focused branded food company. Its brands include its namesake Hormel, Spam, Jennie-O, Dinty Moore, Applegate, Wholly Guacamole, and Skippy. The vast majority of the company's revenue is U.S.-based: 64% U.S. retail, 28% U.S. food service, and 8% international. By product type, in fiscal 2021, 23% of revenue was shelf-stable foods, 18% was poultry (branded and commodity), 55% was other perishable food, and 3% was other, primarily nutritional products. The company holds the number-one market position in shelf-stable meat, shelf-stable ready meals, pepperoni, natural/organic deli meat, and guacamole and the number-two position in turkey, bacon, chilled ready meals, and peanut butter. Click Here to get the full Stock Report for Hormel Foods Corp stock.

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