Lcnb Corp lowered its holdings in Hershey Co (NYSE:HSY) by 11.2% during the second quarter, Holdings Channel reports. The fund owned 8,570 shares of the company’s stock after selling 1,085 shares during the period. Lcnb Corp’s holdings in Hershey were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. FTB Advisors Inc. raised its holdings in shares of Hershey by 108.4% during the second quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock valued at $107,000 after buying an additional 607 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new stake in shares of Hershey during the second quarter valued at approximately $121,000. Piedmont Investment Advisors LLC bought a new stake in shares of Hershey during the second quarter valued at approximately $148,000. Cerebellum GP LLC bought a new stake in shares of Hershey during the second quarter valued at approximately $179,000. Finally, Private Capital Group LLC raised its holdings in shares of Hershey by 55.8% during the first quarter. Private Capital Group LLC now owns 1,869 shares of the company’s stock valued at $185,000 after buying an additional 669 shares during the last quarter. 52.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:HSY opened at $102.87 on Thursday. Hershey Co has a 12 month low of $89.10 and a 12 month high of $115.82. The company has a market cap of $21.03 billion, a P/E ratio of 21.61, a PEG ratio of 2.14 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.05.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 26th. The company reported $1.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.04. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. analysts anticipate that Hershey Co will post 5.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be issued a dividend of $0.722 per share. This is a boost from Hershey’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, August 23rd. This represents a $2.89 annualized dividend and a yield of 2.81%. Hershey’s payout ratio is presently 60.71%.
A number of equities research analysts have recently weighed in on the company. Credit Suisse Group cut Hershey from a “neutral” rating to a “sell” rating and cut their price target for the company from $90.00 to $80.00 in a report on Wednesday, June 13th. Morgan Stanley lifted their price target on Hershey from $93.00 to $98.00 and gave the company an “underweight” rating in a report on Friday, July 27th. Piper Jaffray Companies lifted their price target on Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a report on Friday, July 27th. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $106.00 price target on the stock in a report on Wednesday, June 27th. Finally, ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a report on Wednesday, August 15th. Five investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $102.35.
In other Hershey news, SVP Kevin R. Walling sold 30,835 shares of Hershey stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $101.18, for a total value of $3,119,885.30. Following the transaction, the senior vice president now owns 57,611 shares in the company, valued at $5,829,080.98. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $92.26, for a total transaction of $138,390.00. Following the completion of the transaction, the insider now owns 175,394 shares in the company, valued at approximately $16,181,850.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,835 shares of company stock worth $3,411,125. 0.92% of the stock is owned by corporate insiders.
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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