Strategic Family Wealth Counselors L.L.C. purchased a new stake in shares of Hershey Co (NYSE:HSY) in the third quarter, according to its most recent filing with the SEC. The firm purchased 1,475 shares of the company’s stock, valued at approximately $229,000.
Other hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Hershey by 3.1% during the 2nd quarter. New York State Teachers Retirement System now owns 185,547 shares of the company’s stock worth $24,869,000 after purchasing an additional 5,612 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Hershey by 8.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 63,776 shares of the company’s stock worth $8,548,000 after purchasing an additional 4,894 shares during the last quarter. U S Global Investors Inc. acquired a new position in shares of Hershey during the 2nd quarter worth approximately $1,561,000. Colony Group LLC acquired a new position in shares of Hershey during the 2nd quarter worth approximately $274,000. Finally, Hyman Charles D acquired a new position in shares of Hershey during the 2nd quarter worth approximately $214,000. Institutional investors own 53.68% of the company’s stock.
In other news, CEO Michele Buck sold 3,832 shares of the business’s stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $152.04, for a total transaction of $582,617.28. Following the completion of the sale, the chief executive officer now directly owns 157,761 shares of the company’s stock, valued at approximately $23,985,982.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hershey Trust Co sold 10,000 shares of the business’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $152.82, for a total transaction of $1,528,200.00. Following the sale, the insider now directly owns 92,330 shares of the company’s stock, valued at $14,109,870.60. The disclosure for this sale can be found here. Insiders sold a total of 49,009 shares of company stock valued at $7,549,872 over the last ninety days. 0.41% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on the company. Citigroup lifted their price objective on Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Credit Suisse Group lifted their price objective on Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. ValuEngine downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Sanford C. Bernstein cut shares of Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 target price for the company. in a research note on Thursday, September 12th. They noted that the move was a valuation call. Finally, Stifel Nicolaus lifted their target price on shares of Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $143.00.
HSY stock traded up $0.90 during midday trading on Friday, hitting $153.63. The stock had a trading volume of 431,799 shares, compared to its average volume of 987,981. The firm has a market cap of $31.97 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 3.63 and a beta of 0.07. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48. Hershey Co has a 12-month low of $99.15 and a 12-month high of $162.20. The company’s 50-day moving average price is $155.24 and its 200 day moving average price is $140.32.
Hershey (NYSE:HSY) last released its earnings results on Thursday, July 25th. The company reported $1.31 EPS for the quarter, topping 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 net margin of 15.51% and a return on equity of 83.29%. Hershey’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.14 EPS. As a group, sell-side analysts anticipate that Hershey Co will post 5.74 EPS for the current year.
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.
Further Reading: What are Institutional Investors?
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