Hormel Foods stock slides 1.49% and underperforms peers
Updated
Updated · MarketWatch · May 8
Hormel Foods stock slides 1.49% and underperforms peers
8 articles · Updated · MarketWatch · May 8
Shares closed at $20.44 on Friday as the S&P 500 rose 0.84% to 7,398.93 and the Dow Jones Industrial Average added 0.02% to 49,609.16.
Hormel finished 35.84% below its 52-week high of $31.86 reached on 10 July. It lagged Kraft Heinz and Mondelez, while PepsiCo also fell.
Trading volume was 4.1 million shares, about 618,293 below Hormel's 50-day average of 4.7 million, indicating lighter-than-usual activity during the decline.
Hormel beat earnings estimates yet its stock fell. What does Wall Street see that the company's results don't show?
As Hormel's stock tumbles, is its legendary 'Dividend King' status a safe bet or a dangerous value trap for investors?
Hormel is shedding legacy brands, but can it innovate fast enough to win in the fiercely competitive modern protein market?