Gulf International Bank UK Ltd cut its position in Hershey Co (NYSE:HSY) by 30.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,867 shares of the company’s stock after selling 13,473 shares during the period. Gulf International Bank UK Ltd’s holdings in Hershey were worth $3,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently modified their holdings of the company. Buckingham Capital Management Inc. boosted its stake in Hershey by 2.8% during the third quarter. Buckingham Capital Management Inc. now owns 7,896 shares of the company’s stock worth $805,000 after buying an additional 216 shares during the last quarter. Csenge Advisory Group acquired a new position in Hershey during the third quarter worth $31,000. Stonebridge Capital Advisors LLC boosted its stake in Hershey by 3.4% during the third quarter. Stonebridge Capital Advisors LLC now owns 15,023 shares of the company’s stock worth $1,532,000 after buying an additional 490 shares during the last quarter. Hamel Associates Inc. boosted its stake in Hershey by 17.5% during the third quarter. Hamel Associates Inc. now owns 3,525 shares of the company’s stock worth $360,000 after buying an additional 525 shares during the last quarter. Finally, First National Trust Co boosted its stake in Hershey by 8.5% during the third quarter. First National Trust Co now owns 6,756 shares of the company’s stock worth $689,000 after buying an additional 529 shares during the last quarter. 52.06% of the stock is currently owned by hedge funds and other institutional investors.
NYSE:HSY opened at $106.59 on Friday. Hershey Co has a 52 week low of $89.10 and a 52 week high of $111.81. The company has a current ratio of 1.01, a quick ratio of 0.69 and a debt-to-equity ratio of 2.60. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 22.39, a price-to-earnings-growth ratio of 2.19 and a beta of 0.18.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 25th. The company reported $1.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.55. Hershey had a return on equity of 102.30% and a net margin of 13.20%. The company had revenue of $2.08 billion for the quarter, compared to the consensus estimate of $2.08 billion. On average, research analysts predict that Hershey Co will post 5.37 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 14th. Investors of record on Wednesday, November 21st were issued a $0.722 dividend. The ex-dividend date of this dividend was Tuesday, November 20th. This represents a $2.89 annualized dividend and a dividend yield of 2.71%. Hershey’s dividend payout ratio is presently 60.71%.
HSY has been the topic of a number of recent research reports. Deutsche Bank set a $110.00 price objective on Hershey and gave the stock a “hold” rating in a research note on Friday, September 14th. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Monday, September 24th. Susquehanna Bancshares boosted their price objective on Hershey from $109.00 to $114.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 23rd. Piper Jaffray Companies set a $105.00 price objective on Hershey and gave the stock a “hold” rating in a research note on Friday, October 26th. Finally, Credit Suisse Group raised Hershey from an “underperform” rating to a “neutral” rating and set a $104.00 price objective on the stock in a research note on Tuesday, October 30th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $104.53.
In related news, insider Michele Buck sold 1,500 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $106.61, for a total value of $159,915.00. Following the sale, the insider now owns 170,894 shares in the company, valued at approximately $18,219,009.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 102,330 shares in the company, valued at approximately $10,846,980. The disclosure for this sale can be found here. Insiders sold a total of 51,670 shares of company stock worth $5,481,745 in the last quarter. Company insiders own 0.87% of the company’s stock.
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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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