Amg National Trust Bank buys $17 Million stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Amg National Trust Bank scooped up 3,400 additional shares in Hormel Foods Corp during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 425,856 shares of Hormel Foods Corp which is valued at $17 Million.Hormel Foods Corp makes up approximately 1.58% of Amg National Trust Bank’s portfolio.

Other Hedge Funds, Including , Meiji Yasuda Asset Management Co Ltd. boosted its stake in HRL in the latest quarter, The investment management firm added 1,100 additional shares and now holds a total of 10,808 shares of Hormel Foods Corp which is valued at $431,239. Hormel Foods Corp makes up approx 0.10% of Meiji Yasuda Asset Management Co Ltd.’s portfolio. Mackenzie Financial Corp added HRL to its portfolio by purchasing 13,542 company shares during the most recent quarter which is valued at $540,326.Norges Bank reduced its stake in HRL by selling 397,382 shares or 12.11% in the most recent quarter. The Hedge Fund company now holds 2,883,158 shares of HRL which is valued at $115 Million. Hormel Foods Corp makes up approx 0.06% of Norges Bank’s portfolio. Checchi Capital Advisers added HRL to its portfolio by purchasing 2,662 company shares during the most recent quarter which is valued at $102,620. Hormel Foods Corp makes up approx 0.03% of Checchi Capital Advisers’s portfolio.

Hormel Foods Corp closed down -0.19 points or -0.55% at $34.61 with 44,54,223 shares getting traded on Wednesday. Post opening the session at $34.79, the shares hit an intraday low of $34.28 and an intraday high of $34.88 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

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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