Perigon Wealth Management LLC raised its holdings in shares of Hershey Co (NYSE:HSY) by 58.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,713 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Perigon Wealth Management LLC’s holdings in Hershey were worth $352,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Douglas Lane & Associates LLC grew its holdings in shares of Hershey by 3.7% during the first quarter. Douglas Lane & Associates LLC now owns 2,054 shares of the company’s stock worth $272,000 after buying an additional 73 shares in the last quarter. Stratos Wealth Partners LTD. grew its holdings in shares of Hershey by 2.2% in the second quarter. Stratos Wealth Partners LTD. now owns 3,575 shares of the company’s stock valued at $464,000 after purchasing an additional 77 shares during the period. Boys Arnold & Co. Inc. grew its holdings in shares of Hershey by 4.6% in the first quarter. Boys Arnold & Co. Inc. now owns 1,781 shares of the company’s stock valued at $236,000 after purchasing an additional 78 shares during the period. Foster Dykema Cabot & Co. Inc. MA grew its holdings in shares of Hershey by 3.6% in the first quarter. Foster Dykema Cabot & Co. Inc. MA now owns 2,557 shares of the company’s stock valued at $339,000 after purchasing an additional 89 shares during the period. Finally, AIA Investment Management Private Ltd grew its holdings in shares of Hershey by 5.4% in the first quarter. AIA Investment Management Private Ltd now owns 1,769 shares of the company’s stock valued at $234,000 after purchasing an additional 91 shares during the period. 52.50% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on HSY shares. BMO Capital Markets upped their price objective on shares of Hershey from $140.00 to $150.00 and gave the company a “market perform” rating in a report on Friday, July 24th. Royal Bank of Canada reissued a “hold” rating and issued a $133.00 price objective on shares of Hershey in a report on Wednesday, April 22nd. Jefferies Financial Group upped their price objective on shares of Hershey from $136.00 to $140.00 and gave the company a “hold” rating in a report on Friday, July 17th. Credit Suisse Group upped their price objective on shares of Hershey from $152.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, July 24th. Finally, Morgan Stanley upped their target price on shares of Hershey from $136.00 to $148.00 and gave the company an “equal weight” rating in a research report on Friday, July 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $146.50.
In related news, Director Pamela M. Arway sold 294 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $128.98, for a total value of $37,920.12. Following the sale, the director now owns 15,970 shares of the company’s stock, valued at $2,059,810.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 29.39% of the stock is owned by company insiders.
Shares of HSY opened at $145.41 on Friday. The stock has a market capitalization of $30.25 billion, a PE ratio of 28.51, a P/E/G ratio of 3.15 and a beta of 0.16. Hershey Co has a 1 year low of $109.88 and a 1 year high of $162.20. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.86 and a current ratio of 1.31. The company’s 50-day simple moving average is $132.89 and its 200-day simple moving average is $140.13.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.18. The business had revenue of $1.71 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Hershey had a net margin of 13.50% and a return on equity of 70.65%. The business’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.31 earnings per share. On average, sell-side analysts predict that Hershey Co will post 6.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, August 21st will be issued a $0.804 dividend. This is a boost from Hershey’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $3.22 annualized dividend and a yield of 2.21%. Hershey’s dividend payout ratio (DPR) is 53.46%.
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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