Mercer Capital Advisers adds Hormel Foods Corp (HRL) to its portfolio

Hormel Foods Corp (HRL) : Mercer Capital Advisers added new position in Hormel Foods Corp during the most recent quarter end. The investment management firm now holds 400 shares of Hormel Foods Corp which is valued at $15,064 , the company said in a statement filed on Apr 21, 2016 with the SEC.Hormel Foods Corp makes up approximately 0.01% of Mercer Capital Advisers’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 , Hendley Co Inc boosted its stake in HRL in the latest quarter, The investment management firm added 110 additional shares and now holds a total of 35,950 shares of Hormel Foods Corp which is valued at $1,353,877. Hormel Foods Corp makes up approx 0.83% of Hendley Co Inc’s portfolio.New York State Teachers Retirement System boosted its stake in HRL in the latest quarter, The investment management firm added 2,842 additional shares and now holds a total of 478,352 shares of Hormel Foods Corp which is valued at $18,014,736. Hormel Foods Corp makes up approx 0.05% of New York State Teachers Retirement System’s portfolio. Fox Run Management L.l.c. added HRL to its portfolio by purchasing 6,100 company shares during the most recent quarter which is valued at $229,726. Hormel Foods Corp makes up approx 0.15% of Fox Run Management L.l.c.’s portfolio. Benjamin F. Edwards Company added HRL to its portfolio by purchasing 600 company shares during the most recent quarter which is valued at $23,676.

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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