Haverford Trust Co. Trims Stock Position in Hershey Co (NYSE:HSY)

Haverford Trust Co. cut its holdings in shares of Hershey Co (NYSE:HSY) by 10.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,304 shares of the company’s stock after selling 400 shares during the quarter. Haverford Trust Co.’s holdings in Hershey were worth $512,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. BlackRock Inc. raised its holdings in shares of Hershey by 0.9% during the 2nd quarter. BlackRock Inc. now owns 14,273,827 shares of the company’s stock valued at $1,913,121,000 after buying an additional 127,820 shares during the period. Vanguard Group Inc. raised its holdings in shares of Hershey by 4.8% during the 2nd quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock valued at $1,578,920,000 after buying an additional 537,363 shares during the period. Renaissance Technologies LLC raised its holdings in shares of Hershey by 60.0% during the 2nd quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock valued at $568,363,000 after buying an additional 1,589,800 shares during the period. APG Asset Management N.V. raised its holdings in shares of Hershey by 145.7% during the 2nd quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock valued at $319,972,000 after buying an additional 1,612,100 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in shares of Hershey by 6.7% during the 2nd quarter. Janus Henderson Group PLC now owns 2,373,660 shares of the company’s stock valued at $318,137,000 after buying an additional 149,260 shares during the period. Hedge funds and other institutional investors own 53.50% of the company’s stock.

A number of brokerages have weighed in on HSY. Stifel Nicolaus raised their price objective on Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, July 26th. UBS Group set a $147.00 price objective on Hershey and gave the company a “hold” rating in a research note on Friday, October 25th. Citigroup raised their price objective on Hershey from $140.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price objective for the company. in a research note on Thursday, September 12th. They noted that the move was a valuation call. Finally, Credit Suisse Group raised their price objective on Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. Hershey has an average rating of “Hold” and a consensus price target of $145.57.

Shares of HSY traded down $0.35 during mid-day trading on Friday, hitting $140.97. The stock had a trading volume of 453,727 shares, compared to its average volume of 1,204,769. The company has a market cap of $29.35 billion, a PE ratio of 26.30, a PEG ratio of 3.34 and a beta of 0.06. The company’s fifty day simple moving average is $150.66 and its two-hundred day simple moving average is $143.55. The company has a quick ratio of 0.47, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Hershey Co has a fifty-two week low of $100.80 and a fifty-two week high of $162.20.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 24th. The company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. Hershey had a return on equity of 77.39% and a net margin of 16.18%. The business’s revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 EPS. Equities analysts expect that Hershey Co will post 5.73 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a $0.773 dividend. The ex-dividend date is Thursday, November 21st. This represents a $3.09 annualized dividend and a dividend yield of 2.19%. Hershey’s payout ratio is 57.65%.

In other news, CEO Michele Buck sold 3,832 shares of Hershey stock in a transaction that occurred on Wednesday, October 16th. The stock was sold at an average price of $152.04, for a total value of $582,617.28. Following the completion of the transaction, the chief executive officer now owns 157,761 shares in the company, valued at approximately $23,985,982.44. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Hershey Trust Co sold 3,100 shares of Hershey stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $158.38, for a total value of $490,978.00. Following the completion of the transaction, the insider now owns 83,230 shares of the company’s stock, valued at approximately $13,181,967.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,009 shares of company stock valued at $5,103,372. Insiders own 0.41% of the company’s stock.

About Hershey

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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