Corecommodity Management Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Corecommodity Management reduced its stake in Hormel Foods Corp by 46.34% during the most recent quarter end. The investment management company now holds a total of 52,413 shares of Hormel Foods Corp which is valued at $1,838,124 after selling 45,256 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Hormel Foods Corp makes up approximately 1.89% of Corecommodity Management’s portfolio.

Other Hedge Funds, Including , C M Bidwell Associates Ltd added HRL to its portfolio by purchasing 15,755 company shares during the most recent quarter which is valued at $552,528. Hormel Foods Corp makes up approx 0.13% of C M Bidwell Associates Ltd’s portfolio.Dorsey Whitney Trust Co reduced its stake in HRL by selling 2,874 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 176,350 shares of HRL which is valued at $6,133,453. Hormel Foods Corp makes up approx 1.41% of Dorsey Whitney Trust Co’s portfolio.Ubs Asset Management Americas Inc reduced its stake in HRL by selling 243,285 shares or 7.67% in the most recent quarter. The Hedge Fund company now holds 2,929,656 shares of HRL which is valued at $106,727,368. Hormel Foods Corp makes up approx 0.12% of Ubs Asset Management Americas Inc’s portfolio.Punch Associates Investment Management boosted its stake in HRL in the latest quarter, The investment management firm added 1,502 additional shares and now holds a total of 113,050 shares of Hormel Foods Corp which is valued at $4,271,029. Hormel Foods Corp makes up approx 0.49% of Punch Associates Investment Management’s portfolio.

Hormel Foods Corp closed down -0.36 points or -1.00% at $35.58 with 26,33,005 shares getting traded on Monday. Post opening the session at $35.97, the shares hit an intraday low of $35.42 and an intraday high of $36 and the price fluctuated in this range throughout the day.Shares ended Monday 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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