Northstar Asset Management LLC maintained its position in Hershey Co (NYSE:HSY) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,607 shares of the company’s stock at the end of the second quarter. Northstar Asset Management LLC’s holdings in Hershey were worth $1,783,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Invictus RG purchased a new stake in shares of Hershey during the first quarter worth about $155,000. Independent Portfolio Consultants Inc. raised its stake in shares of Hershey by 139.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,521 shares of the company’s stock worth $163,000 after buying an additional 886 shares during the period. YorkBridge Wealth Partners LLC raised its stake in shares of Hershey by 43.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock worth $168,000 after buying an additional 475 shares during the period. Enterprise Financial Services Corp raised its stake in shares of Hershey by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 1,681 shares of the company’s stock worth $184,000 after buying an additional 14 shares during the period. Finally, Johnson Financial Group Inc. raised its stake in shares of Hershey by 9.5% in the first quarter. Johnson Financial Group Inc. now owns 1,733 shares of the company’s stock worth $189,000 after buying an additional 150 shares during the period. 51.16% of the stock is currently owned by institutional investors.
Shares of Hershey Co (NYSE:HSY) traded down 0.09% during midday trading on Friday, hitting $105.20. 572,176 shares of the stock traded hands. Hershey Co has a 12-month low of $94.03 and a 12-month high of $116.49. The stock has a market cap of $22.35 billion, a price-to-earnings ratio of 33.61 and a beta of 0.38. The company’s 50 day moving average price is $106.14 and its 200-day moving average price is $108.56.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Wednesday, July 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The business had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.65 billion. Hershey had a return on equity of 96.86% and a net margin of 12.19%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. On average, equities research analysts expect that Hershey Co will post $4.82 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a dividend of $0.656 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.49%. This is a positive change from Hershey’s previous quarterly dividend of $0.62. Hershey’s dividend payout ratio (DPR) is presently 78.66%.
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A number of equities research analysts have recently weighed in on HSY shares. Credit Suisse Group reaffirmed an “outperform” rating on shares of Hershey in a research note on Sunday, April 23rd. Deutsche Bank AG lowered their price target on shares of Hershey from $117.00 to $114.00 and set a “hold” rating for the company in a research report on Friday, April 28th. Susquehanna Bancshares Inc reissued a “neutral” rating and set a $115.00 price target (down from $119.00) on shares of Hershey in a research report on Friday, June 2nd. BidaskClub cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $116.00 target price (down from $119.00) on shares of Hershey in a report on Wednesday, June 28th. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $109.14.
In other Hershey news, SVP Terence L. O’day sold 37,875 shares of the firm’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $113.88, for a total value of $4,313,205.00. Following the sale, the senior vice president now directly owns 75,303 shares of the company’s stock, valued at approximately $8,575,505.64. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the completion of the sale, the insider now directly owns 166,097 shares in the company, valued at $17,938,476. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,408 shares of company stock worth $11,100,636. Corporate insiders own 0.92% of the company’s stock.
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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