Hendley Co Inc buys $1,353,877 stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Hendley Co Inc scooped up 110 additional shares in Hormel Foods Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 21, 2016. The investment management firm now holds a total of 35,950 shares of Hormel Foods Corp which is valued at $1,353,877.Hormel Foods Corp makes up approximately 0.83% of Hendley Co Inc’s portfolio.

Hormel Foods Corp opened for trading at $38.31 and hit $39.31 on the upside on Wednesday, eventually ending the session at $38.57, with a gain of 0.86% or 0.33 points. The heightened volatility saw the trading volume jump to 32,70,913 shares. Company has a market cap of $20,439 M.

Other Hedge Funds, Including , Weatherly Asset Management L. P. reduced its stake in HRL by selling 650 shares or 0.71% in the most recent quarter. The Hedge Fund company now holds 90,738 shares of HRL which is valued at $3,417,193. Hormel Foods Corp makes up approx 1.16% of Weatherly Asset Management L. P.’s portfolio. Nexus Investment Management added HRL to its portfolio by purchasing 6,000 company shares during the most recent quarter which is valued at $247,020. Hormel Foods Corp makes up approx 0.05% of Nexus Investment Management’s portfolio.

On the company’s financial health, Hormel Foods Corp reported $0.43 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Feb 16, 2016. Analyst had a consensus of $0.37. The company had revenue of $2292.70 million for the quarter, compared to analysts expectations of $2378.60 million. The company’s revenue was down -4.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.69 EPS.

Many Wall Street Analysts have commented on Hormel Foods Corp. Hormel Foods Corp was Resumed by Credit Agricole to “Underperform” on Apr 13, 2016. Hormel Foods Corp was Downgraded by BB&T Capital Mkts to ” Underweight” on Apr 5, 2016. Hormel Foods Corp was Downgraded by Credit Agricole to ” Underperform” on Feb 18, 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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