Haverford Trust Co. lowered its position in Hershey Co (NYSE:HSY) by 10.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,304 shares of the company’s stock after selling 400 shares during the quarter. Haverford Trust Co.’s holdings in Hershey were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HSY. APG Asset Management N.V. lifted its stake in Hershey by 145.7% in the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock valued at $319,972,000 after buying an additional 1,612,100 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Hershey by 60.0% during the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock worth $568,363,000 after purchasing an additional 1,589,800 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Hershey by 34,749.1% during the second quarter. Nuveen Asset Management LLC now owns 1,015,850 shares of the company’s stock worth $136,154,000 after purchasing an additional 1,012,935 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hershey by 4.8% during the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock worth $1,578,920,000 after purchasing an additional 537,363 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Hershey by 236.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock worth $92,368,000 after purchasing an additional 484,496 shares during the last quarter. Institutional investors own 53.50% of the company’s stock.
HSY stock traded down $0.35 on Friday, reaching $140.97. 453,727 shares of the company’s stock were exchanged, compared to its average volume of 1,204,769. The stock has a fifty day moving average of $150.66 and a 200-day moving average of $143.55. Hershey Co has a twelve month low of $100.80 and a twelve month high of $162.20. The firm has a market cap of $29.35 billion, a PE ratio of 26.30, a P/E/G ratio of 3.34 and a beta of 0.06. The company has a quick ratio of 0.47, a current ratio of 0.80 and a debt-to-equity ratio of 1.64.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, October 24th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.01. Hershey had a return on equity of 77.39% and a net margin of 16.18%. The firm had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company posted $1.55 earnings per share. Hershey’s quarterly revenue was up 2.6% on a year-over-year basis. On average, equities research analysts predict that Hershey Co will post 5.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be issued a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio is presently 57.65%.
Several equities research analysts have recently commented on HSY shares. BMO Capital Markets upped their price target on Hershey from $133.00 to $138.00 and gave the stock a “market perform” rating in a research note on Friday, October 25th. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and upped their price target for the stock from $86.00 to $142.00 in a research note on Wednesday, July 17th. Royal Bank of Canada started coverage on Hershey in a research note on Thursday, October 17th. They set a “sector perform” rating and a $158.00 price target for the company. Citigroup upped their price target on Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, Credit Suisse Group upped their price target on Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $145.57.
In related news, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $155.13, for a total transaction of $232,695.00. Following the transaction, the chief executive officer now owns 155,429 shares of the company’s stock, valued at $24,111,700.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin R. Walling sold 17,745 shares of the company’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $154.23, for a total value of $2,736,811.35. Following the transaction, the senior vice president now directly owns 44,599 shares in the company, valued at approximately $6,878,503.77. The disclosure for this sale can be found here. Insiders have sold 33,009 shares of company stock worth $5,103,372 in the last ninety days. 0.41% of the stock is currently owned by corporate insiders.
Hershey Company Profile
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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