Nomura Asset Management Co. Ltd. boosted its stake in shares of Hershey Co (NYSE:HSY) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,623 shares of the company’s stock after buying an additional 813 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Hershey were worth $3,363,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Calton & Associates Inc. purchased a new stake in Hershey during the fourth quarter worth $108,000. Truewealth LLC purchased a new stake in Hershey during the fourth quarter worth $114,000. Benjamin F. Edwards & Company Inc. lifted its holdings in Hershey by 528.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock worth $166,000 after buying an additional 1,232 shares during the period. Dupont Capital Management Corp purchased a new stake in Hershey during the fourth quarter worth $169,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Hershey during the third quarter worth $174,000. Institutional investors own 53.11% of the company’s stock.
Several analysts have recently commented on HSY shares. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Friday, December 29th. Sanford C. Bernstein set a $124.00 price objective on Hershey and gave the company a “buy” rating in a report on Tuesday, December 19th. Argus decreased their price objective on Hershey from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Barclays decreased their price objective on Hershey from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Finally, Berenberg Bank upgraded Hershey from a “sell” rating to a “hold” rating and set a $90.00 price objective for the company in a report on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $111.53.
Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Hershey had a return on equity of 116.74% and a net margin of 10.42%. Hershey’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.17 earnings per share. research analysts predict that Hershey Co will post 5.36 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be given a dividend of $0.656 per share. This represents a $2.62 annualized dividend and a 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 Hershey news, CEO Michele Buck sold 400 shares of the stock in a transaction dated 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 directly owns 163,697 shares of the company’s stock, valued at approximately $18,260,400.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.92% of the stock is currently owned by company insiders.
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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