Eastern Bank Invests $288,000 in The Hershey Company (NYSE:HSY)

Eastern Bank acquired a new stake in The Hershey Company (NYSE:HSY) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,500 shares of the company’s stock, valued at approximately $288,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Sky Investment Group LLC bought a new position in shares of Hershey during the 3rd quarter worth $209,000. Foundations Investment Advisors LLC raised its stake in Hershey by 22.1% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,367 shares of the company’s stock valued at $262,000 after acquiring an additional 247 shares during the period. Ledyard National Bank boosted its position in Hershey by 140.0% during the third quarter. Ledyard National Bank now owns 3,127 shares of the company’s stock worth $600,000 after purchasing an additional 1,824 shares during the period. Venture Visionary Partners LLC boosted its position in Hershey by 1.7% during the third quarter. Venture Visionary Partners LLC now owns 46,429 shares of the company’s stock worth $8,905,000 after purchasing an additional 762 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hershey in the third quarter worth about $121,000. 57.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on HSY shares. The Goldman Sachs Group began coverage on shares of Hershey in a research note on Monday, August 12th. They set a “sell” rating and a $185.00 price target on the stock. Royal Bank of Canada cut their price target on Hershey from $209.00 to $205.00 and set a “sector perform” rating for the company in a report on Friday, August 2nd. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $230.00 to $205.00 in a research note on Monday, October 7th. Citigroup downgraded Hershey from a “neutral” rating to a “sell” rating and cut their target price for the stock from $195.00 to $182.00 in a research note on Tuesday, August 27th. Finally, Barclays decreased their price target on Hershey from $204.00 to $202.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 24th. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $192.80.

Hershey Price Performance

Shares of NYSE:HSY opened at $181.98 on Thursday. The company’s fifty day moving average is $193.04 and its 200 day moving average is $192.88. The company has a quick ratio of 0.48, a current ratio of 0.86 and a debt-to-equity ratio of 0.87. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $211.92. The stock has a market cap of $36.80 billion, a PE ratio of 18.04, a PEG ratio of 5.44 and a beta of 0.37.

Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, August 1st. The company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.17). The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.30 billion. Hershey had a return on equity of 45.36% and a net margin of 16.76%. The firm’s quarterly revenue was down 16.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.01 EPS. Research analysts anticipate that The Hershey Company will post 9.47 earnings per share for the current year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.01%. The ex-dividend date of this dividend was Friday, August 16th. Hershey’s dividend payout ratio (DPR) is presently 54.31%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 538 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $199.17, for a total transaction of $107,153.46. Following the completion of the sale, the chief accounting officer now directly owns 3,238 shares in the company, valued at $644,912.46. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.34% of the company’s stock.

Hershey Company Profile

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.