American Century Companies Inc. grew its holdings in shares of Hershey Co (NYSE:HSY) by 78.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,316,025 shares of the company’s stock after acquiring an additional 580,206 shares during the period. American Century Companies Inc. owned about 0.63% of Hershey worth $134,235,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in HSY. FTB Advisors Inc. raised its stake in shares of Hershey by 108.4% during the second quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock valued at $107,000 after acquiring an additional 607 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA bought a new position in shares of Hershey during the second quarter valued at $121,000. Fort L.P. bought a new position in shares of Hershey during the second quarter valued at $123,000. grace capital bought a new position in shares of Hershey during the second quarter valued at $130,000. Finally, Flagship Harbor Advisors LLC bought a new position in shares of Hershey during the second quarter valued at $130,000. 52.73% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Kevin R. Walling sold 30,835 shares of Hershey stock in a transaction on Friday, August 17th. The shares were 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 owns 57,611 shares of the company’s stock, valued at $5,829,080.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of Hershey stock in a transaction on Monday, October 29th. The shares were sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the completion of the sale, the insider now directly owns 102,330 shares of the company’s stock, valued at $10,846,980. The disclosure for this sale can be found here. Insiders have sold 121,716 shares of company stock valued at $12,690,499 in the last three months. 0.92% of the stock is owned by insiders.
Shares of NYSE HSY opened at $108.58 on Friday. Hershey Co has a twelve month low of $89.10 and a twelve month high of $115.82. The firm has a market cap of $22.58 billion, a P/E ratio of 22.81, a PEG ratio of 2.36 and a beta of 0.17. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 2.60.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, October 25th. The company reported $1.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.55. Hershey had a net margin of 13.20% and a return on equity of 102.30%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.08 billion. On average, research analysts predict that Hershey Co will post 5.37 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Tuesday, November 20th. Hershey’s dividend payout ratio is presently 60.71%.
Several equities analysts have recently issued reports on HSY shares. Stifel Nicolaus raised their price target on shares of Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Piper Jaffray Companies raised their price target on shares of Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Credit Suisse Group raised their price target on shares of Hershey from $80.00 to $85.00 and gave the company a “sell” rating in a research note on Friday, July 27th. Morgan Stanley raised their price target on shares of Hershey from $93.00 to $98.00 and gave the company an “underweight” rating in a research note on Friday, July 27th. Finally, ValuEngine raised shares of Hershey from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Hershey presently has a consensus rating of “Hold” and a consensus target price of $103.81.
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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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