Prospera Financial Services Inc grew its holdings in shares of Hershey Co (NYSE:HSY) by 34.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 2,728 shares of the company’s stock after purchasing an additional 696 shares during the period. Prospera Financial Services Inc’s holdings in Hershey were worth $291,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in HSY. Krane Funds Advisors LLC purchased a new stake in Hershey during the 2nd quarter valued at $25,000. Berman Capital Advisors LLC boosted its holdings 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 buying an additional 140 shares during the period. Bremer Bank National Association bought a new position in Hershey in the 1st quarter worth $34,000. Cornerstone Advisors Inc. boosted its holdings 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 buying an additional 82 shares during the period. Finally, First Interstate Bank bought a new position in Hershey in the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 53.60% of the company’s stock.
In related news, major shareholder Hershey Trust Co sold 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $153.05, for a total transaction of $918,300.00. Following the transaction, the insider now directly owns 86,330 shares of the company’s stock, valued at approximately $13,212,806.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the transaction, the chief executive officer now directly owns 158,429 shares in the company, valued at $21,953,506.53. The disclosure for this sale can be found here. Insiders sold a total of 23,600 shares of company stock valued at $3,611,368 over the last ninety days. Insiders own 0.41% of the company’s stock.
HSY stock traded up $0.33 during mid-day trading on Thursday, reaching $153.38. The company had a trading volume of 40,700 shares, compared to its average volume of 1,194,382. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48. The stock has a 50 day simple moving average of $155.28 and a two-hundred day simple moving average of $134.06. The company has a market capitalization of $32.16 billion, a price-to-earnings ratio of 28.63, a PEG ratio of 3.23 and a beta of 0.06. Hershey Co has a 52 week low of $99.15 and a 52 week high of $162.20.
Hershey (NYSE:HSY) last posted its quarterly earnings results 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 firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. On average, equities analysts predict that Hershey Co will post 5.74 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 23rd were issued a $0.773 dividend. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 annualized dividend and a yield of 2.02%. Hershey’s payout ratio is currently 57.65%.
Several research analysts recently weighed in on the stock. Bank of America reaffirmed a “buy” rating and issued a $165.00 target price (up previously from $152.00) on shares of Hershey in a report on Friday, July 26th. Piper Jaffray Companies lowered Hershey from a “neutral” rating to an “underweight” rating and raised their price target for the stock from $122.00 to $125.00 in a research report on Wednesday, June 19th. Citigroup raised their price target on Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. Goldman Sachs Group raised Hershey from a “sell” rating to a “neutral” rating and raised their price target for the stock from $86.00 to $142.00 in a research report on Wednesday, July 17th. Finally, BMO Capital Markets raised their price target on Hershey to $133.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $141.93.
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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