Accuvest Global Advisors adds Hormel Foods Corp (HRL) to its portfolio

Hormel Foods Corp (HRL) : Accuvest Global Advisors added new position in Hormel Foods Corp during the most recent quarter end. The investment management firm now holds 8,850 shares of Hormel Foods Corp which is valued at $327,981 , the company said in a statement filed on Aug 11, 2016 with the SEC.Hormel Foods Corp makes up approximately 0.19% of Accuvest Global Advisors’s portfolio.

Other Hedge Funds, Including , Dixon Hubard Feinour Brown Incva sold out all of its stake in HRL during the most recent quarter. The investment firm sold 182,550 shares of HRL which is valued $6,765,303.Commerce Bank reduced its stake in HRL by selling 894 shares or 5.07% in the most recent quarter. The Hedge Fund company now holds 16,733 shares of HRL which is valued at $609,583. Hormel Foods Corp makes up approx 0.01% of Commerce Bank’s portfolio.Bank Of Hawaii reduced its stake in HRL by selling 20 shares or 0.1% in the most recent quarter. The Hedge Fund company now holds 19,058 shares of HRL which is valued at $688,566. Hormel Foods Corp makes up approx 0.07% of Bank Of Hawaii’s portfolio.

Hormel Foods Corp closed down -0.43 points or -1.09% at $39.08 with 19,11,920 shares getting traded on Tuesday. Post opening the session at $39.58, the shares hit an intraday low of $38.97 and an intraday high of $39.65 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Hormel Foods Corp reported $0.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 18, 2016. Analyst had a consensus of $0.35. The company had revenue of $2302.38 million for the quarter, compared to analysts expectations of $2260.70 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.56 EPS.

Many Wall Street Analysts have commented on Hormel Foods Corp. Hormel Foods Corp was Upgraded by Edward Jones to ” Buy” on Aug 24, 2016. Hormel Foods Corp was Upgraded by Credit Suisse to ” Outperform” on Aug 22, 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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