Will Hormel Foods’ Top Institutional Shareholders Buy More After Earnings?

In 2012, Hormel Foods’ (NYSE:HRL) shares are down 1.67 percent. On Friday, the company reported its fiscal third-quarter earnings increased 13 percent, along with all segments seeing higher profits.

For the quarter, Hormel reported a 111.2 million (41 cents a share) profit, up from $98.5 million (36 cents a share) from the previous year. Sales increased 5.1 percent to $2 billion while overall volume rose 4 percent.

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Jeffrey M. Ettinger, Hormel’s chairman of the board, president and chief executive said, “We had an excellent quarter, with earnings per share and sales up 14 percent and 5 percent, respectively. All five segments reported increased earnings, led by our grocery products segment. Our strong sales growth across multiple segments demonstrates that our products are connecting well with consumers.”

From its earnings and profit increases, will Hormel Foods’ largest shareholders increase their holdings? 366 institutional firms indicated owning shares of Hormel Foods Corp. (NYSE:HRL) in Q2 2012. These firms reported owning a total of 88.69 million shares on 06/30/2012. The shares closed at $30.26 on 06/30/2012.

Here are the ten largest positions in Hormel Foods Corp. at the end of June 30th, 2012.

Vanguard Group Inc held 10,069,674 shares on 06/30/2012 worth $306,319,484. This brought the portfolio total to 0.04%.

UBS Global Asset Management Americas Inc held 8,214,799 shares on 06/30/2012 worth $249,894,186. This brought the portfolio total to 0.35%.

State Street Corp held 5,787,990 shares on 06/30/2012 worth $176,070,656. This brought the portfolio total to 0.03%.

Blackrock Institutional Trust Company N.A. held 3,623,668 shares on 06/30/2012 worth $110,231,981. This brought the portfolio total to 0.03%.

Mairs & Power Inc held 3,433,292 shares on 06/30/2012 worth $104,440,743. This brought the portfolio total to 2.7%.

Bank of New York Mellon Corp held 1,777,197 shares on 06/30/2012 worth $54,062,333. This brought the portfolio total to 0.02%.

Northern Trust Corp held 1,750,680 shares on 06/30/2012 worth $53,255,686. This brought the portfolio total to 0.02%.

Wellington Management Co LLP held 1,692,070 shares on 06/30/2012 worth $51,472,770. This brought the portfolio total to 0.02%.

Invesco Ltd. held 1,670,945 shares on 06/30/2012 worth $50,830,147. This brought the portfolio total to 0.03%.

Guggenheim Capital LLC held 1,494,737 shares on 06/30/2012 worth $45,469,900. This brought the portfolio total to 0.23%.

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