Eukles Asset Management lowered its stake in Hershey Co (NYSE:HSY) by 0.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,146 shares of the company’s stock after selling 100 shares during the quarter. Hershey makes up 1.4% of Eukles Asset Management’s investment portfolio, making the stock its 29th largest position. Eukles Asset Management’s holdings in Hershey were worth $1,628,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its stake in Hershey by 172.8% in the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $28,000 after purchasing an additional 140 shares during the period. Trustcore Financial Services LLC bought a new position in Hershey in the 1st quarter worth about $29,000. Bremer Bank National Association bought a new position in Hershey in the 1st quarter worth about $34,000. Cornerstone Advisors Inc. boosted its stake in Hershey by 37.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after purchasing an additional 82 shares during the period. Finally, Nelson Roberts Investment Advisors LLC bought a new position in Hershey in the 1st quarter worth about $41,000. Institutional investors and hedge funds own 53.89% of the company’s stock.
HSY has been the subject of several analyst reports. BMO Capital Markets raised their target price on Hershey to $133.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Bank of America reaffirmed a “buy” rating and issued a $165.00 price target (up previously from $152.00) on shares of Hershey in a report on Friday, July 26th. Goldman Sachs Group raised Hershey from a “sell” rating to a “neutral” rating and raised their price target for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. Credit Suisse Group raised their price target on Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, UBS Group raised Hershey from a “sell” rating to a “neutral” rating and raised their price target for the company from $100.00 to $145.00 in a report on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $138.71.
Shares of NYSE HSY traded up $2.64 during trading hours on Thursday, reaching $155.06. 37,614 shares of the stock traded hands, compared to its average volume of 1,374,817. The stock has a market cap of $32.67 billion, a P/E ratio of 28.75, a P/E/G ratio of 3.39 and a beta of 0.09. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48. Hershey Co has a 52-week low of $98.01 and a 52-week high of $156.69. The business’s 50-day moving average is $145.09.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.13. The company had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. Hershey’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period last year, the firm posted $1.14 EPS. Analysts predict that Hershey Co will post 5.74 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 23rd will be issued a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 1.99%. This is a boost from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, August 22nd. Hershey’s dividend payout ratio (DPR) is currently 53.92%.
In related news, CEO Michele Buck sold 6,000 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $129.14, for a total transaction of $774,840.00. Following the transaction, the chief executive officer now directly owns 163,429 shares of the company’s stock, valued at approximately $21,105,221.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $129.14, for a total value of $67,702,936.40. Following the transaction, the insider now directly owns 473,052 shares in the company, valued at $61,089,935.28. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 3,100 shares of company stock worth $401,990 and have sold 661,336 shares worth $86,643,260. Company insiders own 0.41% of the company’s stock.
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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