Corecommodity Management buys $3,619,613 stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Corecommodity Management scooped up 30,345 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 15, 2016. The investment management firm now holds a total of 97,669 shares of Hormel Foods Corp which is valued at $3,619,613.Hormel Foods Corp makes up approximately 3.50% of Corecommodity Management’s portfolio.

Other Hedge Funds, Including , Price T Rowe Associates Inc Md boosted its stake in HRL in the latest quarter, The investment management firm added 13,080 additional shares and now holds a total of 503,656 shares of Hormel Foods Corp which is valued at $18,665,491.Raymond James Associates boosted its stake in HRL in the latest quarter, The investment management firm added 5,132 additional shares and now holds a total of 550,236 shares of Hormel Foods Corp which is valued at $20,391,746. Hormel Foods Corp makes up approx 0.06% of Raymond James Associates’s portfolio.Mizuho Asset Managementltd. boosted its stake in HRL in the latest quarter, The investment management firm added 2,504 additional shares and now holds a total of 3,380 shares of Hormel Foods Corp which is valued at $125,263. Hormel Foods Corp makes up approx 0.02% of Mizuho Asset Managementltd.’s portfolio. Chase Investment Counsel Corp sold out all of its stake in HRL during the most recent quarter. The investment firm sold 24,745 shares of HRL which is valued $896,016.Shinko Asset Management Ltd. reduced its stake in HRL by selling 100 shares or 7.06% in the most recent quarter. The Hedge Fund company now holds 1,316 shares of HRL which is valued at $48,534.

Hormel Foods Corp closed down -0.05 points or -0.13% at $38.21 with 20,24,330 shares getting traded on Thursday. Post opening the session at $38.1, the shares hit an intraday low of $37.85 and an intraday high of $38.33 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

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 Edward Jones to ” Buy” on Aug 24, 2016. 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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