Hershey Co (NYSE:HSY) Director Anthony J. Palmer sold 5,000 shares of Hershey stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total transaction of $652,150.00. Following the completion of the sale, the director now directly owns 10,014 shares in the company, valued at approximately $1,306,126.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
HSY traded up $0.10 on Friday, hitting $130.32. 252,006 shares of the company’s stock were exchanged, compared to its average volume of 1,210,171. Hershey Co has a fifty-two week low of $89.29 and a fifty-two week high of $131.79. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27. The stock has a market cap of $27.21 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.48 by $0.11. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. As a group, research analysts anticipate that Hershey Co will post 5.7 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a dividend of $0.722 per share. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 annualized dividend and a yield of 2.22%. Hershey’s dividend payout ratio (DPR) is presently 53.92%.
Institutional investors and hedge funds have recently made changes to their positions in the business. Accident Compensation Corp raised its holdings in shares of Hershey by 15.1% during the 1st quarter. Accident Compensation Corp now owns 19,030 shares of the company’s stock worth $2,185,000 after acquiring an additional 2,499 shares during the period. GYL Financial Synergies LLC purchased a new position in shares of Hershey during the 1st quarter worth $1,478,000. Cerebellum GP LLC raised its holdings in shares of Hershey by 23.4% during the 1st quarter. Cerebellum GP LLC now owns 2,885 shares of the company’s stock worth $331,000 after acquiring an additional 548 shares during the period. Allstate Corp raised its holdings in shares of Hershey by 22.5% during the 1st quarter. Allstate Corp now owns 11,021 shares of the company’s stock worth $1,266,000 after acquiring an additional 2,023 shares during the period. Finally, Hendley & Co. Inc. raised its holdings in shares of Hershey by 0.7% during the 1st quarter. Hendley & Co. Inc. now owns 43,718 shares of the company’s stock worth $5,020,000 after acquiring an additional 305 shares during the period. 53.04% of the stock is currently owned by institutional investors.
HSY has been the topic of a number of research analyst reports. ValuEngine cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Thursday, January 24th. Zacks Investment Research cut shares of Hershey from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. Bank of America reissued a “buy” rating and issued a $130.00 price target (up previously from $120.00) on shares of Hershey in a research note on Friday, April 26th. BMO Capital Markets lifted their price target on shares of Hershey from $93.00 to $108.00 and gave the company a “market perform” rating in a research note on Friday, April 26th. Finally, Barclays lifted their price target on shares of Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Hershey currently has an average rating of “Hold” and a consensus target price of $113.27.
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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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