People s United Financial Inc. lowered its holdings in Hershey Co (NYSE:HSY) by 9.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,299 shares of the company’s stock after selling 1,356 shares during the quarter. People s United Financial Inc.’s holdings in Hershey were worth $1,356,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. grew its stake in Hershey by 11.5% during the third quarter. BlackRock Inc. now owns 12,694,041 shares of the company’s stock worth $1,294,795,000 after buying an additional 1,311,392 shares during the last quarter. FMR LLC lifted its position in shares of Hershey by 9.9% during the third quarter. FMR LLC now owns 5,591,781 shares of the company’s stock worth $570,362,000 after purchasing an additional 502,725 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Hershey by 11.3% during the second quarter. Schroder Investment Management Group now owns 2,374,353 shares of the company’s stock worth $223,616,000 after purchasing an additional 240,286 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Hershey by 2.3% in the second quarter. Renaissance Technologies LLC now owns 2,188,000 shares of the company’s stock valued at $203,615,000 after buying an additional 48,700 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in Hershey by 51.2% in the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock valued at $203,829,000 after buying an additional 676,300 shares during the period. 52.18% of the stock is currently owned by institutional investors and hedge funds.
HSY opened at $107.14 on Friday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.69 and a current ratio of 1.01. Hershey Co has a 1-year low of $89.10 and a 1-year high of $115.82. The firm has a market cap of $22.68 billion, a price-to-earnings ratio of 22.51, a price-to-earnings-growth ratio of 2.37 and a beta of 0.18.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 25th. The company reported $1.55 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.55. The company had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.08 billion. Hershey had a net margin of 13.20% and a return on equity of 102.30%. On average, equities research analysts anticipate that Hershey Co will post 5.37 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Wednesday, November 21st will be given a dividend of $0.722 per share. The ex-dividend date of this dividend is Tuesday, November 20th. This represents a $2.89 dividend on an annualized basis and a yield of 2.70%. Hershey’s dividend payout ratio is presently 60.71%.
In related news, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of the firm’s stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $106.00, for a total value of $5,000,020.00. Following the sale, the insider now directly owns 102,330 shares of the company’s stock, valued at $10,846,980. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Todd W. Tillemans bought 2,000 shares of the stock in a transaction that occurred on Tuesday, November 6th. The stock was bought at an average cost of $107.32 per share, for a total transaction of $214,640.00. Following the completion of the purchase, the insider now directly owns 10,878 shares of the company’s stock, valued at $1,167,426.96. The disclosure for this purchase 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.
Several research firms have weighed in on HSY. 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 report on Tuesday, October 23rd. Credit Suisse Group set a $85.00 target price on shares of Hershey and gave the company a “sell” rating in a research report on Thursday, September 13th. Zacks Investment Research raised 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. Deutsche Bank set a $110.00 price objective on shares of Hershey and gave the company a “hold” rating in a research report on Friday, September 14th. Finally, Piper Jaffray Companies set a $105.00 price objective on shares of Hershey and gave the company a “hold” rating in a research report on Friday, October 26th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target 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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