Navellier Associates Inc Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Navellier Associates Inc reduced its stake in Hormel Foods Corp by 27.32% during the most recent quarter end. The investment management company now holds a total of 303,186 shares of Hormel Foods Corp which is valued at $10,954,110 after selling 113,966 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.Hormel Foods Corp makes up approximately 1.60% of Navellier Associates Inc’s portfolio.

Other Hedge Funds, Including , State Treasurer State Of Michigan boosted its stake in HRL in the latest quarter, The investment management firm added 800 additional shares and now holds a total of 93,864 shares of Hormel Foods Corp which is valued at $3,391,306. Hormel Foods Corp makes up approx 0.03% of State Treasurer State Of Michigan’s portfolio. Smith Asset Management Group Lp sold out all of its stake in HRL during the most recent quarter. The investment firm sold 288,040 shares of HRL which is valued $10,429,928.Huntington National Bank boosted its stake in HRL in the latest quarter, The investment management firm added 1,000 additional shares and now holds a total of 3,500 shares of Hormel Foods Corp which is valued at $126,735.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 $36.47 and hit $36.48 on the upside on Monday, eventually ending the session at $36.48, with a gain of 0.19% or 0.07 points. The heightened volatility saw the trading volume jump to 14,42,690 shares. Company has a market cap of $19,329 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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