Burns J W & Co. Inc. NY trimmed its stake in Hershey Co (NYSE:HSY) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,949 shares of the company’s stock after selling 300 shares during the quarter. Burns J W & Co. Inc. NY’s holdings in Hershey were worth $1,387,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Krane Funds Advisors LLC bought a new position in shares of Hershey during the 2nd quarter worth approximately $25,000. Country Trust Bank bought a new position in shares of Hershey during the 3rd quarter worth approximately $30,000. Adirondack Trust Co. bought a new position in shares of Hershey during the 3rd quarter worth approximately $31,000. Berman Capital Advisors LLC boosted its stake in shares of Hershey by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $28,000 after acquiring an additional 140 shares during the period. Finally, First Interstate Bank bought a new position in shares of Hershey during the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.
NYSE HSY traded down $0.66 during midday trading on Friday, hitting $155.64. The company had a trading volume of 15,074 shares, compared to its average volume of 1,179,886. The company has a market capitalization of $32.76 billion, a PE ratio of 29.05, a P/E/G ratio of 3.71 and a beta of 0.07. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 1.71. The firm has a 50-day moving average price of $155.77 and a 200-day moving average price of $138.89. Hershey Co has a twelve month low of $99.15 and a twelve month high of $162.20.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.13. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.14 EPS. On average, equities analysts anticipate that Hershey Co will post 5.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 23rd were issued a $0.773 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 annualized dividend and a yield of 1.99%. Hershey’s payout ratio is currently 57.65%.
In other news, CEO Michele Buck sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $155.13, for a total transaction of $232,695.00. Following the completion of the transaction, the chief executive officer now owns 155,429 shares of the company’s stock, valued at approximately $24,111,700.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hershey Trust Co sold 6,000 shares of the business’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $153.05, for a total value of $918,300.00. Following the transaction, the insider now directly owns 86,330 shares of the company’s stock, valued at approximately $13,212,806.50. The disclosure for this sale can be found here. Insiders sold a total of 43,677 shares of company stock valued at $6,733,480 over the last ninety days. Insiders own 0.41% of the company’s stock.
HSY has been the subject of several research analyst reports. ValuEngine downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets lifted their price target on Hershey to $133.00 and gave the stock a “market perform” rating in a report on Friday, July 26th. Goldman Sachs Group raised Hershey from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $86.00 to $142.00 in a report on Wednesday, July 17th. Stifel Nicolaus lifted their price target on Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Finally, Piper Jaffray Companies cut Hershey from a “neutral” rating to an “underweight” rating and lifted their price target for the stock from $122.00 to $125.00 in a report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $141.93.
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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