Hormel Foods Corporation ($HRL) Stock Forecast: Down 7.5% Today

What is Hormel Foods Corporation?

Hormel Foods Corporation (NYSE: HRL) is a leading food company known for its diverse portfolio of popular brands. Today, the stock experienced a significant bearish movement in the market.

Why is Hormel Foods Corporation going down?

HRL stock is down 7.5% on Sep 4, 2024 13:44

• Hormel Foods' Q3 earnings report may have disappointed investors, leading to a bearish sentiment.
• The high SG&A costs and potential pressure on the International unit could have contributed to the negative market reaction.
• Despite the bearish movement, investors might still be eyeing the company's dividends, given its annual yield of 3.47%.
• The contrasting bullish setups in other companies like Anheuser-Busch InBev (BUD) further emphasize the specific challenges faced by Hormel Foods in today's trading session.

HRL Price Chart

HRL Technical Analysis

HRL News

Hormel: How To Earn $500 A Month Ahead Of Q3 Earnings Report - Hormel Foods ( NYSE:HRL )

Hormel Foods Corporation HRL is set to release earnings results for its third quarter, after the closing bell on Wednesday, Sept. 4. Some investors may be eyeing potential gains from the company's dividends too. As of now, Hormel Foods offers an annual dividend yield of 3.47%.

https://www.benzinga.com/news/earnings/24/09/40686869/how-to-earn-500-a-month-from-hormel-foods-stock-ahead-of-q3-earnings-report

Hormel Foods' Q3 Earnings Coming Up: What Awaits HRL Stock?

Hormel Foods' Q3 results are likely to reflect high SG&A costs. The International unit is likely to have been under pressure, while the Foodservice unit looks good.

https://www.zacks.com/stock/news/2330207/hormel-foods-q3-earnings-coming-up-what-awaits-hrl-stock

Anheuser-Busch InBev: 1 Of 3 Bullish Defensive Plays (Technical Analysis)

Elliott Wave Theory with Fibonacci Pinball is used to project price movements and offer structured trading scenarios. See why HRL, SWBI, & BUD exhibit bullish setups.

https://seekingalpha.com/article/4718188-anheuser-busch-inbev-1-of-3-bullish-defensive-plays?source=feed_all_articles

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Hormel Foods Corporation Price History

04.08.2024 - HRL Stock was down 7.5%

• Hormel Foods' Q3 earnings report may have disappointed investors, leading to a bearish sentiment.
• The high SG&A costs and potential pressure on the International unit could have contributed to the negative market reaction.
• Despite the bearish movement, investors might still be eyeing the company's dividends, given its annual yield of 3.47%.
• The contrasting bullish setups in other companies like Anheuser-Busch InBev (BUD) further emphasize the specific challenges faced by Hormel Foods in today's trading session.

29.10.2023 - HRL Stock was down 6.1%

• HRL reported Q4 earnings miss and lower-than-expected revenue, indicating a decline in sales performance.
• The company's retail sales declined by 4%, while international sales decreased by 12%.
• The softness in the China business and lower turkey markets impacted HRL's earnings in the first half of the fiscal year.
• Despite the earnings miss, HRL's foodservice segment remained strong, providing some stability to the overall performance.

01.11.2023 - HRL Stock was up 0.4%

• HRL shares fell around 4.6% after reporting weaker-than-expected earnings for its fourth quarter.
• The company experienced falling demand and softness in the China market, leading to missed earnings and revenue estimates.
• The stock hit an 8-year low and a 52-week low following the earnings miss.
• Despite the decline in HRL, the overall market saw gains, with the Dow Jones index gaining over 100 points.
• Overall, HRL's bearish movement can be attributed to its earnings miss and challenges in the China market, while the broader market remained positive.

13.09.2023 - HRL Stock was down 6.0%

• The bearish movement in HRL stock today can be attributed to the following factors:
• 1. Strategic Plan Update: Hormel Foods recently provided a strategic update, aiming to boost growth and achieve $250 million in operating income growth. However, the market may have reacted negatively to the plan, potentially perceiving it as insufficient or not meeting expectations.
• 2. Union Contract Settlement: Hormel Foods also settled with union workers on a new contract. While the details of the contract are not mentioned, it is possible that the market interpreted the settlement as unfavorable for the company, leading to a decline in stock price.
• 3. Wage Increases: One of the articles mentions "largest wage increases" sinking the company's stock. If the wage increases mentioned in the article are related to Hormel Foods, it could have negatively impacted the company's profitability and investor sentiment.
• 4. Overreaction: One of the articles suggests that the recent selloff in HRL stock may be overdone, indicating that the market reaction might be exaggerated or based on temporary factors. This could imply a potential buying opportunity for opportunistic investors.
• Overall, the bearish movement in HRL stock today can be attributed to the strategic plan update, union contract settlement, potential wage increases, and a possible market overreaction.

29.01.2024 - HRL Stock was up 13.5%

• Hormel Foods Corporation (HRL) experienced a strong bullish movement today, with shares soaring over 13%.
• The bullish trend can be attributed to the company delivering better-than-expected earnings results for the first quarter of 2024 and reaffirming its outlook for the fiscal year.
• The upbeat earnings report and reaffirmed outlook indicate continued momentum from Hormel's foodservice business, showcasing resilient demand for its products.
• Investors reacted positively to the news, driving the stock price higher as they responded favorably to the company's performance and future prospects in the market.

29.01.2024 - HRL Stock was up 13.5%

• Hormel Foods (HRL) experienced a strong bullish movement today following the release of its first-quarter earnings report.
• The company reported better-than-expected earnings and revenue, beating analyst estimates and reaffirming its outlook for the fiscal year 2024.
• The resilient demand for its products, including Skippy peanut butter, contributed to the positive market sentiment and drove the stock price higher.
• Investors reacted positively to the news, leading to a significant increase in HRL's stock price as it outperformed market expectations and demonstrated strong performance in a challenging economic environment.

29.01.2024 - HRL Stock was up 14.6%

• The company reported better-than-expected first-quarter earnings and reaffirmed its FY24 outlook, leading to increased investor confidence.
• Fiscal first-quarter results surpassed expectations, driven by increased demand across its business segments, particularly with strength in Planters nuts.
• Net sales were up 1% from the same period last year with earnings beating estimates, showcasing strong performance in a competitive market environment.
• The positive earnings and revenue beat likely contributed to the surge in the stock price, reflecting investor optimism in the company's growth trajectory.

30.04.2024 - HRL Stock was down 9.5%

• Earnings per share for the second quarter of 2024 were reported at 38 cents, surpassing analyst estimates.
• The company's revenue of $2.89 billion fell below the analyst estimate, suggesting a slight revenue miss.
• Despite exceeding earnings expectations, the stock possibly faced a bearish trend due to the revenue miss and a year-over-year decline in sales and volumes.
• The market's response to the mixed results and cautious outlook shared during the earnings call may be contributing to the bearish sentiment towards HRL stock.

30.04.2024 - HRL Stock was down 7.6%

• Hormel Foods (HRL) experienced a bearish movement today due to the following reasons:
• Sales for the second quarter of fiscal 2024 declined by 3% year-over-year, missing market expectations.
• Despite beating profit expectations and raising full-year earnings, the decline in sales, particularly in the Retail segment, contributed to the negative market sentiment.
• The mixed performance across segments, with Retail sales declining by 6.7% while Foodservice gained 5.7%, added to the uncertainty surrounding the company's growth prospects.
• The company's ability to maintain its sales forecast and adjust its earnings view will be crucial in restoring investor confidence and reversing the bearish trend in the future.

04.03.2024 - HRL Stock was up 1.5%

• The bullish movement in HRL stock today could be attributed to positive market sentiment driven by strong financial performance and growth prospects.
• The series of insider selling activities by Director Elsa Murano and an executive might have initially raised concerns among investors, but the market seems to have shrugged off these sales.
• The resignation of a board member could have initially caused some uncertainty, but investors might have viewed it as a strategic decision for the company's future direction.
• Overall, the market seems to be focusing more on the company's underlying fundamentals and growth potential rather than the insider selling and board member resignation updates.

30.04.2024 - HRL Stock was down 9.4%

• Hormel Foods (HRL) reported earnings per share of 38 cents, surpassing analyst estimates, while revenue of $2.89 billion fell short of expectations.
• Despite strength in the Foodservice business and improvement in the International unit, overall sales and volumes decreased year over year.
• The mixed segment performance, with Retail sales decreasing and Foodservice increasing, contributed to the negative movement in the stock.
• The demand for higher-priced meats helped Hormel Foods achieve a profit beat for the quarter, although the overall sales decline and missed revenue expectations likely impacted investor sentiment, resulting in the downward market movement.

01.02.2024 - HRL Stock was down 5.0%

• Today, despite the positive earnings and sales beat, Hormel Foods (HRL) experienced a strong bearish movement in the market. This unexpected downturn could be attributed to several factors:
• Market expectations: The market may have had overly optimistic expectations following the impressive first-quarter results, leading to profit-taking and a subsequent bearish trend.
• Profit realization: Investors who had initially driven the stock price up in anticipation of strong earnings may have decided to realize their profits, causing a downward pressure on the stock.
• External factors: Macro-economic conditions or sector-specific news could have influenced the market sentiment, overshadowing the positive earnings report from Hormel Foods.