OppenheimerFunds Inc. reduced its position in shares of Hershey Co (NYSE:HSY) by 69.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,916 shares of the company’s stock after selling 15,437 shares during the period. OppenheimerFunds Inc.’s holdings in Hershey were worth $684,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truewealth LLC bought a new position in shares of Hershey during the fourth quarter valued at about $114,000. Sciencast Management LP bought a new position in shares of Hershey during the fourth quarter valued at about $203,000. Castleview Partners LLC bought a new position in shares of Hershey during the first quarter valued at about $204,000. Fisher Asset Management LLC bought a new position in shares of Hershey during the first quarter valued at about $220,000. Finally, Blue Edge Capital LLC bought a new position in shares of Hershey during the fourth quarter valued at about $227,000. 54.00% of the stock is currently owned by institutional investors.
In other news, Director David L. Shedlarz sold 5,450 shares of the business’s stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $91.25, for a total value of $497,312.50. Following the sale, the director now owns 11,723 shares of the company’s stock, valued at $1,069,723.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.92% of the company’s stock.
Shares of HSY stock opened at $92.67 on Monday. The stock has a market capitalization of $19.39 billion, a price-to-earnings ratio of 19.47, a P/E/G ratio of 2.33 and a beta of 0.34. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.40 and a current ratio of 0.61. Hershey Co has a 52 week low of $89.10 and a 52 week high of $115.82.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 26th. The company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.01. Hershey had a net margin of 13.25% and a return on equity of 113.86%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $1.94 billion. During the same quarter in the previous year, the firm posted $1.31 earnings per share. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. research analysts predict that Hershey Co will post 5.34 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 15th. Stockholders of record on Friday, May 25th were given a $0.656 dividend. This represents a $2.62 annualized dividend and a dividend yield of 2.83%. The ex-dividend date was Thursday, May 24th. Hershey’s dividend payout ratio (DPR) is currently 55.04%.
A number of research analysts recently weighed in on HSY shares. Zacks Investment Research lowered shares of Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. Morgan Stanley set a $93.00 price target on shares of Hershey and gave the company a “sell” rating in a research report on Wednesday, April 18th. UBS Group lowered shares of Hershey from a “neutral” rating to a “sell” rating and dropped their price target for the company from $106.00 to $90.00 in a research report on Tuesday, April 10th. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $106.00 to $98.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 24th. Finally, Argus lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Seven equities research analysts have rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $102.88.
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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