M Holdings Securities Inc. purchased a new position in shares of Hershey Company (The) (NYSE:HSY – Free Report) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,480 shares of the company’s stock, valued at approximately $596,000.
Several other large investors also recently modified their holdings of the stock. Fifth Third Bancorp boosted its position in shares of Hershey by 126.4% during the 1st quarter. Fifth Third Bancorp now owns 84,215 shares of the company’s stock worth $17,508,000 after purchasing an additional 47,017 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in Hershey by 125.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 196,337 shares of the company’s stock valued at $34,447,000 after buying an additional 109,418 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Hershey in the 2nd quarter valued at about $62,664,000. Bank of America Corp DE acquired a new position in Hershey during the 2nd quarter worth approximately $274,871,000. Finally, First Bank & Trust acquired a new position in Hershey during the 3rd quarter worth approximately $1,555,000. Institutional investors and hedge funds own 57.96% of the company’s stock.
Hershey Price Performance
HSY stock opened at $173.81 on Wednesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.72 and a current ratio of 1.24. The business has a 50-day simple moving average of $168.27 and a two-hundred day simple moving average of $188.21. The company has a market capitalization of $34.93 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 1.56 and a beta of 0.08. Hershey Company has a 52-week low of $156.16 and a 52-week high of $239.48.
Hershey (NYSE:HSY – Get Free Report) last posted its earnings results on Thursday, October 29th. The company reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.11 by $0.53. Hershey had a return on equity of 37.12% and a net margin of 14.63%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same quarter last year, the company earned $1.30 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. Research analysts expect that Hershey Company will post 8.63 EPS for the current fiscal year.
Hershey Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 16th will be given a $1.4520 dividend. This represents a $5.81 dividend on an annualized basis and a yield of 3.3%. The ex-dividend date of this dividend is Monday, November 16th. Hershey’s dividend payout ratio is presently 65.72%.
Analyst Upgrades and Downgrades
A number of brokerages have commented on HSY. Sanford C. Bernstein reissued a “market perform” rating and issued a $201.00 price objective (down from $208.00) on shares of Hershey in a research note on Friday, July 31st. Weiss Ratings lowered Hershey from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, November 4th. Bank of America reaffirmed a “neutral” rating and set a $170.00 target price on shares of Hershey in a research report on Friday, October 30th. The Goldman Sachs Group reiterated a “buy” rating and issued a $194.00 target price on shares of Hershey in a report on Friday, October 30th. Finally, Jefferies Financial Group reissued a “hold” rating and issued a $178.00 price target (down from $190.00) on shares of Hershey in a research report on Wednesday, October 14th. Seven equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $193.81.
Check Out Our Latest Stock Analysis on Hershey
About Hershey
The Hershey Company is a global confectionery company best known for its chocolate and candy products. Milton S. Hershey established the Hershey Chocolate Company in 1894, and the company is headquartered in Hershey, Pennsylvania. Its portfolio includes chocolate bars, packaged candy, gum, mints and other snacks. Well-known brands include Hershey’s, Reese’s, Kisses, Jolly Rancher and Ice Breakers; the company also sells salty snacks under brands such as SkinnyPop and Dot’s Pretzels. Hershey sells its products primarily in North America and also serves consumers in international markets through its operations and distribution partners.
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