Bks Advisors Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Bks Advisors reduced its stake in Hormel Foods Corp by 9.94% during the most recent quarter end. The investment management company now holds a total of 85,160 shares of Hormel Foods Corp which is valued at $3,102,379 after selling 9,400 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Hormel Foods Corp makes up approximately 1.52% of Bks Advisors’s portfolio.

Other Hedge Funds, Including , Pittenger Anderson Inc boosted its stake in HRL in the latest quarter, The investment management firm added 6,510 additional shares and now holds a total of 81,975 shares of Hormel Foods Corp which is valued at $2,990,448. Hormel Foods Corp makes up approx 0.33% of Pittenger Anderson Inc’s portfolio.Zurcher Kantonalbank (zurich Cantonalbank) reduced its stake in HRL by selling 33,383 shares or 40.61% in the most recent quarter. The Hedge Fund company now holds 48,816 shares of HRL which is valued at $1,763,722. Hormel Foods Corp makes up approx 0.02% of Zurcher Kantonalbank (zurich Cantonalbank)’s portfolio.Conning boosted its stake in HRL in the latest quarter, The investment management firm added 410 additional shares and now holds a total of 8,510 shares of Hormel Foods Corp which is valued at $308,147. Hormel Foods Corp makes up approx 0.01% of Conning’s portfolio.

Hormel Foods Corp opened for trading at $36.13 and hit $36.53 on the upside on Wednesday, eventually ending the session at $36.35, with a gain of 0.44% or 0.16 points. The heightened volatility saw the trading volume jump to 36,89,401 shares. Company has a market cap of $19,260 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.

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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