Hormel Foods Corp (HRL) : Peninsula Asset Management Inc reduced its stake in Hormel Foods Corp by 1.11% during the most recent quarter end. The investment management company now holds a total of 101,259 shares of Hormel Foods Corp which is valued at $4 Million after selling 1,141 shares in Hormel Foods Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.Hormel Foods Corp makes up approximately 3.40% of Peninsula Asset Management Inc’s portfolio.
Other Hedge Funds, Including , Park Avenue Institutional Advisers reduced its stake in HRL by selling 60 shares or 3.41% in the most recent quarter. The Hedge Fund company now holds 1,700 shares of HRL which is valued at $67,830. Hormel Foods Corp makes up approx 0.06% of Park Avenue Institutional Advisers’s portfolio.Teacher Retirement System Of Texas boosted its stake in HRL in the latest quarter, The investment management firm added 15,843 additional shares and now holds a total of 115,403 shares of Hormel Foods Corp which is valued at $4.6 Million. Hormel Foods Corp makes up approx 0.03% of Teacher Retirement System Of Texas’s portfolio. Allegis Investment Advisors sold out all of its stake in HRL during the most recent quarter. The investment firm sold 808 shares of HRL which is valued $32,239.
Hormel Foods Corp closed down -0.51 points or -1.44% at $34.86 with 77,26,234 shares getting traded on Friday. Post opening the session at $35.46, the shares hit an intraday low of $34.73 and an intraday high of $35.58 and the price fluctuated in this range throughout the day.Shares ended Friday 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.