Richard C. Young & CO. LTD. raised its stake in shares of Hershey Co (NYSE:HSY) by 16.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,045 shares of the company’s stock after buying an additional 5,047 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Hershey were worth $4,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James & Associates grew its holdings in shares of Hershey by 26.1% in the fourth quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock valued at $6,069,000 after purchasing an additional 11,702 shares in the last quarter. Gotham Asset Management LLC grew its stake in Hershey by 453.3% in the fourth quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock valued at $9,944,000 after purchasing an additional 76,011 shares during the last quarter. Captrust Financial Advisors grew its stake in Hershey by 126.1% in the fourth quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock valued at $91,000 after purchasing an additional 473 shares during the last quarter. Victory Capital Management Inc. grew its stake in Hershey by 5.5% in the fourth quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock valued at $16,729,000 after purchasing an additional 8,098 shares during the last quarter. Finally, United Services Automobile Association grew its stake in Hershey by 0.6% in the fourth quarter. United Services Automobile Association now owns 47,030 shares of the company’s stock valued at $5,041,000 after purchasing an additional 269 shares during the last quarter. 53.04% of the stock is owned by institutional investors and hedge funds.
In other Hershey news, CFO Patricia A. Little sold 19,779 shares of the business’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $109.30, for a total value of $2,161,844.70. Following the completion of the transaction, the chief financial officer now directly owns 36,049 shares of the company’s stock, valued at $3,940,155.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony J. Palmer sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total value of $652,150.00. Following the completion of the transaction, the director now directly owns 10,014 shares of the company’s stock, valued at $1,306,126.02. The disclosure for this sale can be found here. Insiders sold 3,604,898 shares of company stock valued at $453,570,730 over the last three months. 0.41% of the stock is currently owned by corporate insiders.
Shares of Hershey stock traded down $0.03 on Friday, reaching $130.19. 963,769 shares of the stock were exchanged, compared to its average volume of 1,207,608. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27. Hershey Co has a twelve month low of $89.29 and a twelve month high of $131.79. The company has a market capitalization of $27.18 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 2.86 and a beta of 0.18.
Hershey (NYSE:HSY) last released its earnings results on Thursday, April 25th. The company reported $1.59 EPS for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.11. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The firm had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The company’s revenue was up 2.3% compared to the same quarter last year. Research analysts anticipate that Hershey Co will post 5.7 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be issued a $0.722 dividend. This represents a $2.89 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, May 23rd. Hershey’s payout ratio is presently 53.92%.
HSY has been the topic of several analyst reports. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Thursday, May 16th. Bank of America restated a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of Hershey in a research note on Friday, April 26th. ValuEngine upgraded Hershey from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. Barclays boosted their price target on Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a research note on Friday, April 26th. Finally, Credit Suisse Group set a $123.00 price target on Hershey and gave the stock a “hold” rating in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the 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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