Hutchens Investment Management Inc buys $1,706,650 stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Hutchens Investment Management Inc scooped up 10,551 additional shares in Hormel Foods Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 46,051 shares of Hormel Foods Corp which is valued at $1,706,650.Hormel Foods Corp makes up approximately 1.57% of Hutchens Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Credit Agricole S A boosted its stake in HRL in the latest quarter, The investment management firm added 310,926 additional shares and now holds a total of 719,168 shares of Hormel Foods Corp which is valued at $26,652,366. Hormel Foods Corp makes up approx 0.10% of Credit Agricole S A’s portfolio.Ubs Asset Management Americas Inc reduced its stake in HRL by selling 886,287 shares or 21.83% in the most recent quarter. The Hedge Fund company now holds 3,172,941 shares of HRL which is valued at $115,590,241. Hormel Foods Corp makes up approx 0.13% of Ubs Asset Management Americas Inc’s portfolio.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.Gemmer Asset Management boosted its stake in HRL in the latest quarter, The investment management firm added 16,128 additional shares and now holds a total of 16,396 shares of Hormel Foods Corp which is valued at $604,684. Hormel Foods Corp makes up approx 0.32% of Gemmer Asset Management’s portfolio.Regentatlantic Capital reduced its stake in HRL by selling 550 shares or 6.95% in the most recent quarter. The Hedge Fund company now holds 7,365 shares of HRL which is valued at $271,327. Hormel Foods Corp makes up approx 0.03% of Regentatlantic Capital’s portfolio.

Hormel Foods Corp opened for trading at $37.25 and hit $38.7 on the upside on Friday, eventually ending the session at $38.66, with a gain of 4.37% or 1.62 points. The heightened volatility saw the trading volume jump to 50,60,343 shares. Company has a market cap of $20,484 M.

On the company’s financial health, Hormel Foods Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.35. The company had revenue of $2302.38 million for the quarter, compared to analysts expectations of $2260.70 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Hormel Foods Corp. Hormel Foods Corp was Upgraded by Credit Suisse to ” Outperform” on Aug 22, 2016.

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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