Texas Permanent School Fund Corp Acquires 79 Shares of The Hershey Company (NYSE:HSY)

Texas Permanent School Fund Corp raised its stake in shares of The Hershey Company (NYSE:HSYFree Report) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 30,966 shares of the company’s stock after buying an additional 79 shares during the period. Texas Permanent School Fund Corp’s holdings in Hershey were worth $6,196,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HSY. Institutional & Family Asset Management LLC bought a new position in Hershey in the 2nd quarter worth $25,000. Pinnacle Bancorp Inc. purchased a new stake in shares of Hershey during the 3rd quarter valued at about $25,000. Costello Asset Management INC purchased a new stake in Hershey in the 3rd quarter worth about $25,000. Zions Bancorporation N.A. raised its position in Hershey by 121.3% in the 1st quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after purchasing an additional 74 shares during the period. Finally, Indiana Trust & Investment Management CO purchased a new stake in Hershey in the 3rd quarter worth about $30,000. 56.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Hershey

In related news, insider Charles R. Raup sold 2,065 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the sale, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Hershey news, insider Charles R. Raup sold 2,065 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $191.85, for a total transaction of $396,170.25. Following the completion of the sale, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Jennifer Mccalman sold 453 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the sale, the chief accounting officer now owns 1,862 shares of the company’s stock, valued at $369,681.48. The disclosure for this sale can be found here. Insiders sold a total of 7,018 shares of company stock worth $1,331,734 over the last ninety days. 0.22% of the stock is currently owned by corporate insiders.

Hershey Stock Down 3.4 %

Shares of NYSE HSY opened at $195.45 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $276.88. The firm has a 50-day moving average price of $189.41 and a 200 day moving average price of $199.04. The stock has a market capitalization of $39.97 billion, a price-to-earnings ratio of 21.60, a price-to-earnings-growth ratio of 2.63 and a beta of 0.36.

Hershey (NYSE:HSYGet Free Report) last announced its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.07. The company had revenue of $2.66 billion during the quarter, compared to analysts’ expectations of $2.72 billion. Hershey had a net margin of 16.67% and a return on equity of 51.79%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 earnings per share. Equities research analysts anticipate that The Hershey Company will post 9.6 EPS for the current fiscal year.

Hershey Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th will be issued a dividend of $1.37 per share. The ex-dividend date is Friday, February 16th. This is an increase from Hershey’s previous quarterly dividend of $1.19. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.80%. Hershey’s payout ratio is 52.71%.

Analyst Ratings Changes

A number of equities analysts have recently commented on HSY shares. Stifel Nicolaus raised their target price on shares of Hershey from $195.00 to $205.00 and gave the stock a “hold” rating in a research report on Thursday, January 25th. Citigroup assumed coverage on shares of Hershey in a report on Thursday, February 1st. They issued a “neutral” rating and a $213.00 price target on the stock. DA Davidson initiated coverage on shares of Hershey in a report on Friday, December 8th. They issued a “neutral” rating and a $205.00 price target on the stock. Morgan Stanley lowered shares of Hershey from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $191.00 to $183.00 in a report on Monday. Finally, Bank of America downgraded shares of Hershey from a “buy” rating to a “neutral” rating and decreased their target price for the company from $250.00 to $200.00 in a research report on Friday, December 15th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hershey has a consensus rating of “Hold” and a consensus target price of $227.86.

Read Our Latest Research Report on HSY

Hershey Profile

(Free Report)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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