Mckinley Carter Wealth Services Lowers stake in Hormel Foods Corp (HRL)

Hormel Foods Corp (HRL) : Mckinley Carter Wealth Services reduced its stake in Hormel Foods Corp by 2.7% during the most recent quarter end. The investment management company now holds a total of 64,794 shares of Hormel Foods Corp which is valued at $2.6 Million after selling 1,800 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Hormel Foods Corp makes up approximately 1.44% of Mckinley Carter Wealth Services’s portfolio.

Other Hedge Funds, Including , Mizuho Asset Managementltd. reduced its stake in HRL by selling 2,504 shares or 74.08% in the most recent quarter. The Hedge Fund company now holds 876 shares of HRL which is valued at $34,952. Hormel Foods Corp makes up approx 0.01% of Mizuho Asset Managementltd.’s portfolio.Eulav Asset Management reduced its stake in HRL by selling 6,000 shares or 1.22% in the most recent quarter. The Hedge Fund company now holds 484,000 shares of HRL which is valued at $19.3 Million. Hormel Foods Corp makes up approx 1.08% of Eulav Asset Management’s portfolio.First Allied Advisory Services reduced its stake in HRL by selling 23,095 shares or 24.0% in the most recent quarter. The Hedge Fund company now holds 73,151 shares of HRL which is valued at $2.9 Million. Hormel Foods Corp makes up approx 0.16% of First Allied Advisory Services’s portfolio.Dupont Capital Management Corp reduced its stake in HRL by selling 59,525 shares or 40.66% in the most recent quarter. The Hedge Fund company now holds 86,863 shares of HRL which is valued at $3.3 Million. Hormel Foods Corp makes up approx 0.08% of Dupont Capital Management Corp’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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