AMP Capital Investors Ltd trimmed its position in Hershey Co (NYSE:HSY) by 10.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,039 shares of the company’s stock after selling 10,344 shares during the period. AMP Capital Investors Ltd’s holdings in Hershey were worth $8,659,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Glen Harbor Capital Management LLC lifted its position in shares of Hershey by 20.0% during the 2nd quarter. Glen Harbor Capital Management LLC now owns 12,914 shares of the company’s stock valued at $1,202,000 after acquiring an additional 2,156 shares during the last quarter. CSat Investment Advisory L.P. acquired a new stake in shares of Hershey during the 2nd quarter valued at $1,268,000. OppenheimerFunds Inc. lifted its position in shares of Hershey by 46.3% during the 2nd quarter. OppenheimerFunds Inc. now owns 10,120 shares of the company’s stock valued at $942,000 after acquiring an additional 3,204 shares during the last quarter. Scharf Investments LLC lifted its position in shares of Hershey by 19.5% during the 2nd quarter. Scharf Investments LLC now owns 1,481,324 shares of the company’s stock valued at $137,849,000 after acquiring an additional 241,662 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Hershey by 110.5% during the 2nd quarter. Van ECK Associates Corp now owns 383,935 shares of the company’s stock valued at $35,729,000 after acquiring an additional 201,510 shares during the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.
In other news, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction on Monday, August 20th. The shares were sold at an average price of $101.90, for a total value of $152,850.00. Following the transaction, the insider now directly owns 173,894 shares of the company’s stock, valued at $17,719,798.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin R. Walling sold 30,835 shares of the company’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $101.18, for a total transaction of $3,119,885.30. Following the completion of the transaction, the senior vice president now directly owns 57,611 shares in the company, valued at $5,829,080.98. The disclosure for this sale can be found here. Insiders sold 33,835 shares of company stock worth $3,411,125 over the last ninety days. 0.92% of the stock is currently owned by company insiders.
HSY opened at $106.60 on Friday. The firm has a market capitalization of $21.81 billion, a PE ratio of 22.39, a price-to-earnings-growth ratio of 2.22 and a beta of 0.32. Hershey Co has a 12-month low of $89.10 and a 12-month high of $115.82. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 3.05.
Hershey (NYSE:HSY) last released its earnings results on Thursday, July 26th. The company reported $1.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.04. The company had revenue of $1.75 billion during the quarter, compared to analyst estimates of $1.74 billion. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 earnings per share. sell-side analysts anticipate that Hershey Co will post 5.36 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Friday, August 24th will be paid a $0.722 dividend. The ex-dividend date is Thursday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.66. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.71%. Hershey’s dividend payout ratio is 60.71%.
HSY has been the subject of a number of recent research reports. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a research report on Wednesday, June 27th. Consumer Edge downgraded Hershey from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 9th. Piper Jaffray Companies set a $100.00 price objective on Hershey and gave the company a “hold” rating in a research report on Wednesday, August 29th. ValuEngine upgraded Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Stifel Nicolaus increased their price objective on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a research report on Friday, July 27th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $102.35.
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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