HBK Investments L P cut its holdings in Hershey Co (NYSE:HSY) by 66.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 68,612 shares of the company’s stock after selling 137,388 shares during the period. HBK Investments L P’s holdings in Hershey were worth $7,788,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Rodgers Brothers Inc. lifted its holdings in Hershey by 5.6% in the third quarter. Rodgers Brothers Inc. now owns 8,900 shares of the company’s stock valued at $972,000 after acquiring an additional 475 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Hershey by 2.6% during the third quarter. CIBC Asset Management Inc now owns 19,288 shares of the company’s stock worth $2,106,000 after purchasing an additional 495 shares in the last quarter. Fernwood Investment Management LLC lifted its stake in Hershey by 10.6% during the third quarter. Fernwood Investment Management LLC now owns 5,225 shares of the company’s stock worth $570,000 after purchasing an additional 500 shares in the last quarter. Palo Capital Inc. lifted its stake in Hershey by 6.9% during the fourth quarter. Palo Capital Inc. now owns 8,138 shares of the company’s stock worth $924,000 after purchasing an additional 522 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in Hershey by 12.2% during the third quarter. Commerzbank Aktiengesellschaft FI now owns 4,870 shares of the company’s stock worth $532,000 after purchasing an additional 528 shares in the last quarter. Hedge funds and other institutional investors own 53.11% of the company’s stock.
A number of research analysts have commented on the company. Barclays decreased their price target on Hershey from $110.00 to $107.00 and set an “equal weight” rating on the stock in a research note on Friday, February 2nd. Royal Bank of Canada restated a “hold” rating and set a $122.00 price target on shares of Hershey in a research note on Friday, December 22nd. Susquehanna Bancshares restated a “neutral” rating and set a $110.00 price target (up from $108.00) on shares of Hershey in a research note on Tuesday, January 30th. Goldman Sachs Group cut Hershey from a “neutral” rating to a “sell” rating and set a $101.00 price target on the stock. in a research note on Tuesday, January 16th. Finally, Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research note on Friday, December 29th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $111.53.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). Hershey had a return on equity of 116.74% and a net margin of 10.42%. The company had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the prior year, the company posted $1.17 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. research analysts forecast that Hershey Co will post 5.36 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd will be given a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date of this dividend is Thursday, February 22nd. Hershey’s dividend payout ratio is currently 71.58%.
In other news, CEO Michele Buck sold 400 shares of the company’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $111.55, for a total transaction of $44,620.00. Following the sale, the chief executive officer now owns 163,697 shares of the company’s stock, valued at $18,260,400.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by corporate insiders.
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The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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