Cobiz Investment Management Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Cobiz Investment Management reduced its stake in Hormel Foods Corp by 68.13% during the most recent quarter end. The investment management company now holds a total of 44,626 shares of Hormel Foods Corp which is valued at $1,612,337 after selling 95,416 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Hormel Foods Corp makes up approximately 0.39% of Cobiz Investment Management’s portfolio.

Other Hedge Funds, Including , Uss Investment Management Ltd boosted its stake in HRL in the latest quarter, The investment management firm added 38,900 additional shares and now holds a total of 647,098 shares of Hormel Foods Corp which is valued at $23,379,651. Hormel Foods Corp makes up approx 0.39% of Uss Investment Management Ltd’s portfolio. Spectrum Management Group sold out all of its stake in HRL during the most recent quarter. The investment firm sold 13,958 shares of HRL which is valued $521,331. Park Avenue Securities sold out all of its stake in HRL during the most recent quarter. The investment firm sold 7,424 shares of HRL which is valued $268,823.Cibc World Markets reduced its stake in HRL by selling 31,045 shares or 62.16% in the most recent quarter. The Hedge Fund company now holds 18,897 shares of HRL which is valued at $696,921. West Oak Capital added HRL to its portfolio by purchasing 620 company shares during the most recent quarter which is valued at $22,698. Hormel Foods Corp makes up approx 0.02% of West Oak Capital’s portfolio.

Hormel Foods Corp opened for trading at $36.31 and hit $36.55 on the upside on Thursday, eventually ending the session at $36.29, with a gain of 0.44% or 0.16 points. The heightened volatility saw the trading volume jump to 17,34,900 shares. Company has a market cap of $19,229 M.

On the company’s financial health, Hormel Foods Corp reported $0.40 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on May 18, 2016. Analyst had a consensus of $0.39. The company had revenue of $2300.00 million for the quarter, compared to analysts expectations of $2309.24 million. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.67 EPS.

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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