Trust Department Mb Financial Bank N A Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Trust Department Mb Financial Bank N A reduced its stake in Hormel Foods Corp by 50.0% during the most recent quarter end. The investment management company now holds a total of 93,526 shares of Hormel Foods Corp which is valued at $3,690,536 after selling 93,526 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on Apr 15, 2016.Hormel Foods Corp makes up approximately 0.42% of Trust Department Mb Financial Bank N A’s portfolio.

Hormel Foods Corp closed down -0.75 points or -1.94% at $37.84 with 41,04,253 shares getting traded on Wednesday. Post opening the session at $38.54, the shares hit an intraday low of $37.634 and an intraday high of $38.56 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

Other Hedge Funds, Including , Palisade Asset Management reduced its stake in HRL by selling 600 shares or 4.78% in the most recent quarter. The Hedge Fund company now holds 11,960 shares of HRL which is valued at $471,942. Hormel Foods Corp makes up approx 0.09% of Palisade Asset Management’s portfolio.Capstone Asset Management Co reduced its stake in HRL by selling 5,440 shares or 8.63% in the most recent quarter. The Hedge Fund company now holds 57,616 shares of HRL which is valued at $2,273,527. Hormel Foods Corp makes up approx 0.06% of Capstone Asset Management Co’s portfolio.Carlson Capital Management reduced its stake in HRL by selling 970 shares or 8.6% in the most recent quarter. The Hedge Fund company now holds 10,308 shares of HRL which is valued at $424,380. Hormel Foods Corp makes up approx 0.16% of Carlson Capital 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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