Kornitzer Capital Management Inc. KS boosted its stake in Hershey Co (NYSE:HSY) by 7.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,920 shares of the company’s stock after purchasing an additional 1,280 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Hershey were worth $2,034,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. WFG Advisors LP lifted its stake in Hershey by 25.2% in the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after purchasing an additional 201 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Hershey by 528.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock worth $166,000 after purchasing an additional 1,232 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Hershey in the 4th quarter worth $169,000. Valeo Financial Advisors LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at about $174,000. Finally, Douglas Lane & Associates LLC purchased a new stake in shares of Hershey during the 3rd quarter valued at about $202,000. Institutional investors and hedge funds own 51.97% of the company’s stock.
Hershey Co (NYSE:HSY) opened at $100.17 on Tuesday. The company has a market cap of $21,692.48, a PE ratio of 27.37, a P/E/G ratio of 2.51 and a beta of 0.26. Hershey Co has a fifty-two week low of $100.17 and a fifty-two week high of $116.49. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 2.21.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.03). The firm had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. Hershey had a net margin of 10.42% and a return on equity of 116.74%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.17 earnings per share. equities analysts predict that Hershey Co will post 5.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, February 23rd will be issued a dividend of $0.656 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.62 annualized dividend and a yield of 2.62%. Hershey’s payout ratio is 71.58%.
Hershey declared that its Board of Directors has approved a share buyback program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.
HSY has been the topic of several recent research reports. Zacks Investment Research cut shares of Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Susquehanna Bancshares set a $113.00 target price on shares of Hershey and gave the company a “hold” rating in a research report on Monday, December 18th. Citigroup upped their target price on shares of Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 27th. BMO Capital Markets restated a “hold” rating and set a $105.00 target price on shares of Hershey in a research report on Friday, October 27th. Finally, Morgan Stanley cut shares of Hershey from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 10th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. Hershey presently has an average rating of “Hold” and a consensus price target of $111.72.
In related news, SVP D Michael Wege sold 15,517 shares of the company’s stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $108.18, for a total transaction of $1,678,629.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the transaction, the insider now owns 164,897 shares in the company, valued at $17,808,876. The disclosure for this sale can be found here. Insiders have sold a total of 17,117 shares of company stock worth $1,855,629 over the last quarter. 0.92% of the stock is currently owned by insiders.
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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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