The Barchart Chart of the Day belongs to the global food company Hormel Foods (NYSE:HRL). I found the stock by using Barchart to sort today's New 52 Week High List by the highest Weighted Alpha then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 10/9 the stock gained 2.92%.
Hormel Foods Corporation is a global branded food company with across 75 countries worldwide. Its brands include SKIPPY, SPAM, Hormel Natural Choice, Applegate, Justin's, Wholly Guacamole, Hormel Black Label and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named one of `The 100 Best Corporate Citizens` by Corporate Responsibility Magazine for the eighth year in a row, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company announced its new vision for the future – Inspired People. Inspired Food – focusing on its legacy of innovation. Bringing high-quality branded products that are flavorful, nutritious and convenient puts us among the most trusted and well-known food companies in the world. Hormel Foods has brought innovation, beloved brands and outstanding value to their consumers, customers, communities and shareholders.
Barchart's Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
Barchart technical indicators:
- 88% technical buy signals
- 36.32+ Weighted Alpha
- 37.37% gain in the last year
- Trend Spotter buy signal
- Above its 20, 50 and 100 day moving averages
- 12 new highs and up 5.20% in the last year
- Relative Strength Index 59.78%
- Technical support level at 41.52
- Recently traded at 41.91 with a 50 day moving average of 40.03
Fundamental factors:
- Market Cap $22.34 billion
- P/E 25.26
- Dividend yield 1.79%
- Revenue expected to grow 4.80% this year and another 2.80% next year
- Earnings estimated to increase 19.10% this year, decrease by 1.60% next year but compound at an annual rate of 10.50% for the next 5 years
- Wall Street analysts have 1 strong buy, 1 buy, 8 hold and 1 under perform call in place on the stock
