Standard Life Aberdeen plc boosted its holdings in shares of Hershey Co (NYSE:HSY) by 20.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,965 shares of the company’s stock after purchasing an additional 8,628 shares during the quarter. Standard Life Aberdeen plc’s holdings in Hershey were worth $4,743,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HSY. Schroder Investment Management Group grew its position in shares of Hershey by 349.9% in the 1st quarter. Schroder Investment Management Group now owns 2,134,067 shares of the company’s stock worth $211,187,000 after acquiring an additional 1,659,697 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of Hershey in the 2nd quarter worth approximately $48,331,000. Mawer Investment Management Ltd. acquired a new position in shares of Hershey in the 2nd quarter worth approximately $41,355,000. Schwab Charles Investment Management Inc. grew its position in shares of Hershey by 62.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 965,337 shares of the company’s stock worth $95,530,000 after acquiring an additional 371,878 shares in the last quarter. Finally, American Century Companies Inc. grew its position in shares of Hershey by 58.9% in the 1st quarter. American Century Companies Inc. now owns 942,013 shares of the company’s stock worth $93,222,000 after acquiring an additional 349,264 shares in the last quarter. Institutional investors own 52.68% of the company’s stock.
HSY has been the subject of several research reports. Zacks Investment Research lowered Hershey from a “hold” rating to a “sell” rating in a research report on Monday, May 28th. Credit Suisse Group lifted their target price on Hershey from $80.00 to $85.00 and gave the stock a “sell” rating in a research report on Friday, July 27th. Morgan Stanley lifted their target price on Hershey from $93.00 to $98.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Stifel Nicolaus lifted their target price on Hershey from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Friday, July 27th. Finally, Piper Jaffray Companies boosted their price objective on Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a research report on Friday, July 27th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $102.35.
HSY opened at $102.87 on Thursday. Hershey Co has a one year low of $89.10 and a one year high of $115.82. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.58 and a current ratio of 0.94. The firm has a market capitalization of $21.03 billion, a PE ratio of 20.47, a PEG ratio of 2.14 and a beta of 0.32.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, July 26th. The company reported $1.14 EPS for the quarter, topping the Zacks’ 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 company had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the previous year, the business earned $1.09 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. research analysts forecast that Hershey Co will post 5.36 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be paid a $0.722 dividend. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.66. Hershey’s payout ratio is currently 60.71%.
In other news, SVP Kevin R. Walling sold 30,835 shares of the business’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the sale, the senior vice president now directly owns 57,611 shares of the company’s stock, valued at $5,829,080.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michele Buck sold 1,500 shares of the business’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $101.90, for a total value of $152,850.00. Following the sale, the insider now directly owns 173,894 shares in the company, valued at $17,719,798.60. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $3,411,125 in the last three months. Company insiders own 0.92% of the company’s stock.
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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