C M Bidwell Associates Ltd buys $6.8 Million stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : C M Bidwell Associates Ltd scooped up 150,480 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 11, 2016. The investment management firm now holds a total of 170,310 shares of Hormel Foods Corp which is valued at $6.8 Million.Hormel Foods Corp makes up approximately 1.70% of C M Bidwell Associates Ltd’s portfolio.

Other Hedge Funds, Including , Shell Asset Management Co reduced its stake in HRL by selling 20,799 shares or 26.01% in the most recent quarter. The Hedge Fund company now holds 59,181 shares of HRL which is valued at $2.4 Million. Hormel Foods Corp makes up approx 0.06% of Shell Asset Management Co’s portfolio.Autus Asset Management boosted its stake in HRL in the latest quarter, The investment management firm added 3,071 additional shares and now holds a total of 26,091 shares of Hormel Foods Corp which is valued at $1 Million. Hormel Foods Corp makes up approx 0.25% of Autus Asset Management’s portfolio.Grandfield Dodd reduced its stake in HRL by selling 38,921 shares or 4.87% in the most recent quarter. The Hedge Fund company now holds 760,909 shares of HRL which is valued at $29.3 Million. Hormel Foods Corp makes up approx 4.26% of Grandfield Dodd’s portfolio.Scout Investments reduced its stake in HRL by selling 126,645 shares or 37.8% in the most recent quarter. The Hedge Fund company now holds 208,419 shares of HRL which is valued at $8 Million. Hormel Foods Corp makes up approx 0.22% of Scout Investments’s portfolio.

Hormel Foods Corp opened for trading at $39.86 and hit $40.36 on the upside on Monday, eventually ending the session at $40.24, with a gain of 0.85% or 0.34 points. The heightened volatility saw the trading volume jump to 29,16,837 shares. Company has a market cap of $21,324 M.

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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