Veritas Investment Management LLP cut its stake in shares of Hershey Company (The) (NYSE:HSY) by 37.7% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 3,783 shares of the company’s stock after selling 2,290 shares during the period. Hershey Company (The) makes up approximately 0.1% of Veritas Investment Management LLP’s holdings, making the stock its 29th largest holding. Veritas Investment Management LLP’s holdings in Hershey Company (The) were worth $413,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in HSY. Koch Industries Inc. bought a new position in Hershey Company (The) during the 2nd quarter worth $614,000. HighTower Advisors LLC lifted its holdings in Hershey Company (The) by 10.8% during the second quarter. HighTower Advisors LLC now owns 44,186 shares of the company’s stock worth $4,747,000 after acquiring an additional 4,297 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in Hershey Company (The) by 16.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 140,777 shares of the company’s stock worth $15,117,000 after acquiring an additional 20,116 shares in the last quarter. NorthCoast Asset Management LLC bought a new position in Hershey Company (The) during the second quarter worth about $677,000. Finally, BB&T Securities LLC lifted its holdings in Hershey Company (The) by 8.0% during the second quarter. BB&T Securities LLC now owns 10,459 shares of the company’s stock worth $1,123,000 after acquiring an additional 778 shares in the last quarter. 50.22% of the stock is currently owned by hedge funds and other institutional investors.
Hershey Company (NYSE:HSY) traded down $0.42 during trading hours on Tuesday, hitting $108.18. The company had a trading volume of 939,800 shares, compared to its average volume of 1,031,222. The company has a current ratio of 0.95, a quick ratio of 0.55 and a debt-to-equity ratio of 2.45. The firm has a market capitalization of $22,878.54, a P/E ratio of 22.16, a P/E/G ratio of 2.95 and a beta of 0.36. Hershey Company has a twelve month low of $95.68 and a twelve month high of $116.49.
Hershey Company (The) (NYSE:HSY) last released its earnings results on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.04. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.01 billion. Hershey Company (The) had a return on equity of 124.06% and a net margin of 9.52%. Hershey Company (The)’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. research analysts anticipate that Hershey Company will post 4.8 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be given a $0.656 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Tuesday, November 21st. Hershey Company (The)’s dividend payout ratio is currently 77.98%.
Hershey Company (The) declared that its Board of Directors has authorized a share repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
In other Hershey Company (The) news, VP Javier H. Idrovo sold 15,132 shares of the business’s stock in a transaction that occurred on Wednesday, October 11th. The stock was sold at an average price of $110.04, for a total transaction of $1,665,125.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michele Buck sold 400 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the transaction, the insider now directly owns 164,897 shares in the company, valued at approximately $17,808,876. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,518,532 shares of company stock worth $479,081,384. 0.92% of the stock is owned by company insiders.
A number of analysts have recently commented on the company. Susquehanna Bancshares Inc set a $118.00 price target on Hershey Company (The) and gave the company a “hold” rating in a report on Wednesday, July 26th. Sanford C. Bernstein upgraded Hershey Company (The) from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $109.00 to $127.00 in a report on Thursday, August 17th. Royal Bank Of Canada restated a “sector perform” rating and issued a $115.00 price target (up from $114.00) on shares of Hershey Company (The) in a report on Thursday, July 27th. Credit Suisse Group restated a “buy” rating and issued a $121.00 price target on shares of Hershey Company (The) in a report on Friday, July 28th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $111.00 price target (down from $112.00) on shares of Hershey Company (The) in a report on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $113.35.
Hershey Company (The) Company Profile
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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