Tower Research Capital LLC TRC lowered its stake in shares of Hershey Co (NYSE:HSY) by 11.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,545 shares of the company’s stock after selling 441 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Hershey were worth $549,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Krane Funds Advisors LLC bought a new position in shares of Hershey in the second quarter worth approximately $25,000. Berman Capital Advisors LLC boosted its position in shares of Hershey by 172.8% in the second 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. Country Trust Bank bought a new position in shares of Hershey in the third quarter worth approximately $30,000. Adirondack Trust Co. bought a new position in shares of Hershey in the third quarter worth approximately $31,000. Finally, Eii Capital Management Inc. bought a new position in shares of Hershey in the third quarter worth approximately $31,000. Hedge funds and other institutional investors own 53.61% of the company’s stock.
A number of brokerages recently weighed in on HSY. Credit Suisse Group upped their target price on shares of Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. UBS Group set a $147.00 target price on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, October 25th. BMO Capital Markets upped their target price on shares of Hershey from $133.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Stifel Nicolaus upped their target price on shares of Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Bank of America set a $165.00 target price on shares of Hershey and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $145.57.
Shares of NYSE:HSY opened at $145.75 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.47 and a current ratio of 0.80. The firm has a fifty day moving average price of $149.40 and a 200 day moving average price of $144.29. Hershey Co has a fifty-two week low of $100.80 and a fifty-two week high of $162.20. The firm has a market cap of $30.61 billion, a price-to-earnings ratio of 27.19, a P/E/G ratio of 3.48 and a beta of 0.06.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 24th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.01. The firm had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. Hershey had a net margin of 16.18% and a return on equity of 77.39%. Hershey’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.55 earnings per share. As a group, research analysts predict that Hershey Co will post 5.73 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date of this dividend is Thursday, November 21st. Hershey’s payout ratio is 57.65%.
In related news, major shareholder Hershey Trust Co Trustee In Tr sold 6,800 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $145.06, for a total transaction of $986,408.00. Following the sale, the insider now owns 47,170 shares of the company’s stock, valued at $6,842,480.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $155.13, for a total transaction of $232,695.00. Following the sale, the chief executive officer now directly owns 155,429 shares in the company, valued at approximately $24,111,700.77. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,309 shares of company stock worth $6,432,540. 0.41% of the stock is owned by insiders.
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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