Hormel Foods Corp (HRL) : Peninsula Asset Management Inc reduced its stake in Hormel Foods Corp by 2.11% during the most recent quarter end. The investment management company now holds a total of 99,124 shares of Hormel Foods Corp which is valued at $3,673,535 after selling 2,135 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Hormel Foods Corp makes up approximately 2.94% of Peninsula Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Formidable Asset Management added HRL to its portfolio by purchasing 15,964 company shares during the most recent quarter which is valued at $591,626. Hormel Foods Corp makes up approx 0.33% of Formidable Asset Management’s portfolio.Tredje Ap-fonden boosted its stake in HRL in the latest quarter, The investment management firm added 357 additional shares and now holds a total of 29,486 shares of Hormel Foods Corp which is valued at $1,092,751. Hormel Foods Corp makes up approx 0.05% of Tredje Ap-fonden’s portfolio.Alliancebernstein reduced its stake in HRL by selling 6,723 shares or 1.35% in the most recent quarter. The Hedge Fund company now holds 492,957 shares of HRL which is valued at $18,268,986. Hormel Foods Corp makes up approx 0.02% of Alliancebernstein’s portfolio. Acrospire Investment Management sold out all of its stake in HRL during the most recent quarter. The investment firm sold 1,200 shares of HRL which is valued $43,776.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 $38 and hit $38.44 on the upside on Monday, eventually ending the session at $38.4, with a gain of 1.27% or 0.48 points. The heightened volatility saw the trading volume jump to 25,29,949 shares. Company has a market cap of $20,347 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 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.