Huntington National Bank lessened its position in shares of Hershey Co (NYSE:HSY) by 1.5% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 7,590 shares of the company’s stock after selling 117 shares during the quarter. Huntington National Bank’s holdings in Hershey were worth $1,176,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Krane Funds Advisors LLC purchased a new stake in shares of Hershey during the 2nd quarter valued at approximately $25,000. Berman Capital Advisors LLC raised its position in shares of Hershey by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $28,000 after buying an additional 140 shares during the period. Country Trust Bank purchased a new stake in shares of Hershey during the 3rd quarter valued at approximately $30,000. Adirondack Trust Co. purchased a new stake in shares of Hershey during the 3rd quarter valued at approximately $31,000. Finally, Eii Capital Management Inc. purchased a new stake in shares of Hershey during the 3rd quarter valued at approximately $31,000. 53.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Hershey stock traded down $0.64 on Friday, reaching $140.68. 186,008 shares of the stock were exchanged, compared to its average volume of 1,062,683. Hershey Co has a 1-year low of $100.80 and a 1-year high of $162.20. The company has a current ratio of 0.80, a quick ratio of 0.47 and a debt-to-equity ratio of 1.64. The business has a fifty day moving average price of $150.91 and a two-hundred day moving average price of $143.44. The firm has a market capitalization of $29.35 billion, a PE ratio of 26.25, a PEG ratio of 3.34 and a beta of 0.06.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.01. Hershey had a net margin of 16.18% and a return on equity of 77.39%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period in the previous year, the business posted $1.55 earnings per share. The business’s revenue was up 2.6% compared to the same quarter last year. Research analysts expect that Hershey Co will post 5.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be paid a dividend of $0.773 per share. The ex-dividend date is Thursday, November 21st. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.20%. Hershey’s dividend payout ratio (DPR) is 57.65%.
In other Hershey news, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.56, for a total transaction of $233,340.00. Following the transaction, the insider now directly owns 156,929 shares in the company, valued at $24,411,875.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin R. Walling sold 17,745 shares of the company’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $154.23, for a total transaction of $2,736,811.35. Following the transaction, the senior vice president now owns 44,599 shares in the company, valued at $6,878,503.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 33,009 shares of company stock worth $5,103,372. Company insiders own 0.41% of the company’s stock.
Several analysts have recently commented on the stock. Wells Fargo & Co lifted their price target on shares of Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Credit Suisse Group upped their target price on shares of Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada assumed coverage on shares of Hershey in a report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 target price for the company. Stifel Nicolaus upped their target price on shares of Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, BMO Capital Markets upped their target price on shares of Hershey from $133.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $145.57.
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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