Tdam USA Inc. grew its stake in Hershey Co (NYSE:HSY) by 2.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,753 shares of the company’s stock after acquiring an additional 73 shares during the period. Tdam USA Inc.’s holdings in Hershey were worth $369,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in shares of Hershey by 2.0% in the first quarter. Nordea Investment Management AB now owns 632,033 shares of the company’s stock worth $72,575,000 after buying an additional 12,630 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Hershey by 9.9% during the first quarter. Keybank National Association OH now owns 21,577 shares of the company’s stock worth $2,478,000 after purchasing an additional 1,952 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Hershey by 8.3% during the second quarter. Nisa Investment Advisors LLC now owns 63,776 shares of the company’s stock worth $8,548,000 after purchasing an additional 4,894 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of Hershey by 3.1% during the second quarter. New York State Teachers Retirement System now owns 185,547 shares of the company’s stock worth $24,869,000 after purchasing an additional 5,612 shares during the last quarter. Finally, DNB Asset Management AS raised its holdings in shares of Hershey by 16.6% during the second quarter. DNB Asset Management AS now owns 81,188 shares of the company’s stock worth $10,882,000 after purchasing an additional 11,550 shares during the last quarter. Hedge funds and other institutional investors own 53.89% of the company’s stock.
Several research analysts recently issued reports on HSY shares. Citigroup raised their target price on shares of Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, July 18th. Credit Suisse Group raised their target price on shares of Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Piper Jaffray Companies cut shares of Hershey from a “neutral” rating to an “underweight” rating and raised their target price for the stock from $122.00 to $125.00 in a report on Wednesday, June 19th. Barclays raised their target price on shares of Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Finally, Evercore ISI started coverage on shares of Hershey in a report on Tuesday, June 11th. They set an “in-line” rating and a $145.00 target price for the company. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $138.71.
In other news, Director Anthony J. Palmer sold 5,000 shares of Hershey stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total value of $652,150.00. Following the sale, the director now owns 10,014 shares in the company, valued at $1,306,126.02. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $129.14, for a total transaction of $67,702,936.40. Following the transaction, the insider now owns 473,052 shares in the company, valued at $61,089,935.28. The disclosure for this sale can be found here. In the last quarter, insiders bought 3,100 shares of company stock worth $401,990 and sold 661,336 shares worth $86,643,260. 0.41% of the stock is owned by company insiders.
HSY stock traded up $1.34 during midday trading on Thursday, hitting $153.76. 15,052 shares of the stock traded hands, compared to its average volume of 1,374,817. The firm has a market capitalization of $32.67 billion, a price-to-earnings ratio of 28.71, 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 quick ratio of 0.48 and a current ratio of 0.88. The company’s fifty day moving average is $145.09. Hershey Co has a 1-year low of $98.01 and a 1-year high of $156.69.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.13. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Hershey had a net margin of 15.51% and a return on equity of 83.29%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business earned $1.14 earnings per share. Sell-side analysts anticipate that Hershey Co will post 5.74 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be given a $0.773 dividend. This is a positive change from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.09 annualized dividend and a dividend yield of 2.01%. Hershey’s dividend payout ratio (DPR) is 53.92%.
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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