Private Advisor Group LLC increased its holdings in Hershey Co (NYSE:HSY) by 43.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,971 shares of the company’s stock after acquiring an additional 1,499 shares during the period. Private Advisor Group LLC’s holdings in Hershey were worth $459,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in HSY. Schroder Investment Management Group increased its position in 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 purchasing an additional 1,659,697 shares during the last quarter. Bank of Montreal Can acquired a new position in Hershey in the 2nd quarter worth about $48,331,000. Mawer Investment Management Ltd. acquired a new position in Hershey in the 2nd quarter worth about $41,355,000. Schwab Charles Investment Management Inc. increased its position in 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 purchasing an additional 371,878 shares during the last quarter. Finally, American Century Companies Inc. increased its position in 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 purchasing an additional 349,264 shares during the last quarter. 52.68% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on the company. ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Piper Jaffray Companies set a $100.00 target price on Hershey and gave the stock a “hold” rating in a research report on Wednesday, August 29th. Credit Suisse Group set a $85.00 target price on Hershey and gave the stock a “sell” rating in a research report on Wednesday, August 29th. Morgan Stanley upped 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. Finally, Stifel Nicolaus upped 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. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $102.35.
Shares of NYSE HSY opened at $104.24 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.05. The stock has a market cap of $21.53 billion, a PE ratio of 20.95, a P/E/G ratio of 2.19 and a beta of 0.32. Hershey Co has a 52 week low of $89.10 and a 52 week high of $115.82.
Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.14 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. The business had revenue of $1.75 billion for the quarter, compared to analyst estimates of $1.74 billion. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 EPS. research analysts expect that Hershey Co will post 5.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be issued a dividend of $0.722 per share. This is a positive change from Hershey’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Thursday, August 23rd. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.77%. Hershey’s dividend payout ratio is currently 60.71%.
In other Hershey news, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $92.26, for a total value of $138,390.00. Following the sale, the insider now owns 175,394 shares of the company’s stock, valued at approximately $16,181,850.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin R. Walling sold 30,835 shares of the firm’s 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 completion of the sale, the senior vice president now directly owns 57,611 shares in the company, valued at approximately $5,829,080.98. 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 currently owned by 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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