GRIMES & Co WEALTH MANAGEMENT LLC grew its holdings in Hershey Company (The) (NYSE:HSY – Free Report) by 30.9% during the third quarter, HoldingsChannel.com reports. The fund owned 88,334 shares of the company’s stock after purchasing an additional 20,843 shares during the quarter. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Hershey were worth $13,922,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of HSY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in Hershey during the 3rd quarter worth $27,950,000. Vise Technologies Inc. boosted its position in Hershey by 5.3% in the 3rd quarter. Vise Technologies Inc. now owns 17,615 shares of the company’s stock valued at $2,776,000 after buying an additional 894 shares during the last quarter. Intrua Financial LLC boosted its position in Hershey by 4.2% in the 3rd quarter. Intrua Financial LLC now owns 1,673 shares of the company’s stock valued at $264,000 after buying an additional 67 shares during the last quarter. State of Wyoming purchased a new position in Hershey in the 3rd quarter valued at about $60,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Hershey by 37.6% during the third quarter. Raleigh Capital Management Inc. now owns 6,378 shares of the company’s stock valued at $1,005,000 after acquiring an additional 1,742 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on HSY shares. Sanford C. Bernstein restated a “market perform” rating and set a $201.00 price objective (down from $208.00) on shares of Hershey in a research note on Friday, July 31st. BNP Paribas Exane cut their target price on Hershey from $195.00 to $190.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 27th. The Goldman Sachs Group reiterated a “buy” rating and set a $194.00 target price on shares of Hershey in a research note on Friday. Stifel Nicolaus decreased their price target on shares of Hershey from $215.00 to $180.00 and set a “hold” rating for the company in a research report on Wednesday, July 22nd. Finally, Barclays dropped their price target on shares of Hershey from $178.00 to $171.00 and set an “equal weight” rating for the company in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $193.81.
Hershey Stock Performance
HSY stock opened at $171.24 on Tuesday. The stock’s 50 day simple moving average is $169.38 and its 200 day simple moving average is $188.91. Hershey Company has a 12-month low of $156.16 and a 12-month high of $239.48. The firm has a market cap of $34.41 billion, a P/E ratio of 19.37, a P/E/G ratio of 1.37 and a beta of 0.10. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 1.03.
Hershey (NYSE:HSY – Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.64 EPS for the quarter, topping analysts’ consensus estimates of $2.11 by $0.53. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.25 billion. Hershey had a net margin of 12.24% and a return on equity of 31.92%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.30 earnings per share. As a group, equities research analysts predict that Hershey Company will post 8.61 EPS for the current year.
Hershey Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be issued a $1.4520 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. Hershey’s payout ratio is 65.72%.
Hershey Company Profile
The Hershey Company (NYSE: HSY) is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.
Hershey’s portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey’s, Reese’s, Hershey’s Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot’s Pretzels.
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