GAM Holding AG acquired a new position in shares of Hershey Co (NYSE:HSY) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 10,832 shares of the company’s stock, valued at approximately $1,104,000.
Several other hedge funds have also bought and sold shares of HSY. Cornerstone Wealth Management LLC bought a new position in Hershey during the second quarter valued at about $335,000. Piedmont Investment Advisors LLC bought a new position in Hershey during the second quarter worth about $148,000. Dupont Capital Management Corp bought a new position in Hershey during the second quarter worth about $262,000. Raymond James Financial Services Advisors Inc. boosted its position in Hershey by 9.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 59,429 shares of the company’s stock worth $5,531,000 after purchasing an additional 5,058 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Hershey by 4.8% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 462,373 shares of the company’s stock worth $43,028,000 after purchasing an additional 21,284 shares during the period. Institutional investors and hedge funds own 52.18% of the company’s stock.
In other news, insider Todd W. Tillemans purchased 2,000 shares of the stock in a transaction dated Tuesday, November 6th. The shares were purchased at an average cost of $107.32 per share, with a total value of $214,640.00. Following the completion of the acquisition, the insider now owns 10,878 shares in the company, valued at approximately $1,167,426.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of the stock in a transaction dated Monday, October 29th. The stock was 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 in the company, valued at $10,846,980. The disclosure for this sale can be found here. Over the last three months, insiders sold 90,881 shares of company stock worth $9,579,554. Insiders own 0.92% of the company’s stock.
A number of equities analysts have weighed in on the stock. Credit Suisse Group upgraded shares of Hershey from an “underperform” rating to a “neutral” rating and set a $104.00 target price for the company in a research report on Tuesday, October 30th. Piper Jaffray Companies set a $105.00 target price on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, October 26th. Susquehanna Bancshares increased their target price on shares of Hershey from $109.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 23rd. Zacks Investment Research upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $117.00 target price for the company in a research report on Monday, October 8th. Finally, Deutsche Bank set a $110.00 target price on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, September 14th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $103.81.
Shares of NYSE:HSY opened at $107.14 on Friday. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.01 and a quick ratio of 0.69. The stock has a market cap of $22.68 billion, a price-to-earnings ratio of 21.08, a price-to-earnings-growth ratio of 2.37 and a beta of 0.18. Hershey Co has a twelve month low of $89.10 and a twelve month high of $115.82.
Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, October 25th. The company reported $1.55 earnings per share (EPS) 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 firm had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. Analysts predict that Hershey Co will post 5.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Wednesday, November 21st will be issued a $0.722 dividend. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend is Tuesday, November 20th. Hershey’s payout ratio is 60.71%.
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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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