Delta Investment Management LLC trimmed its holdings in shares of Hershey Co (NYSE:HSY) by 12.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,034 shares of the company’s stock after selling 2,168 shares during the quarter. Hershey accounts for approximately 1.2% of Delta Investment Management LLC’s investment portfolio, making the stock its 20th largest holding. Delta Investment Management LLC’s holdings in Hershey were worth $2,330,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Arthur M. Cohen & Associates LLC raised its holdings in shares of Hershey by 3.8% in the third quarter. Arthur M. Cohen & Associates LLC now owns 23,449 shares of the company’s stock valued at $3,645,000 after acquiring an additional 848 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Hershey in the third quarter valued at about $370,000. Front Barnett Associates LLC bought a new stake in shares of Hershey in the third quarter valued at about $202,000. Thompson Investment Management Inc. bought a new stake in shares of Hershey in the third quarter valued at about $212,000. Finally, First Trust Advisors LP raised its holdings in shares of Hershey by 27.2% in the third quarter. First Trust Advisors LP now owns 714,174 shares of the company’s stock valued at $110,690,000 after acquiring an additional 152,588 shares in the last quarter. Institutional investors and hedge funds own 53.50% of the company’s stock.
In other Hershey news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.56, for a total value of $233,340.00. Following the transaction, the insider now owns 156,929 shares in the company, valued at $24,411,875.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hershey Trust Co sold 3,100 shares of Hershey stock in a transaction dated Monday, August 26th. The shares were 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 in the company, valued at approximately $13,181,967.40. The disclosure for this sale can be found here. Insiders sold 33,009 shares of company stock worth $5,103,372 in the last quarter. 0.41% of the stock is owned by insiders.
Several analysts recently weighed in on the company. Royal Bank of Canada assumed coverage on Hershey in a report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 price objective for the company. ValuEngine downgraded Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. Credit Suisse Group lifted their price objective on Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Citigroup lifted their price objective on Hershey from $140.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $145.57.
HSY opened at $140.97 on Friday. The business’s 50-day moving average is $150.66 and its two-hundred day moving average is $143.55. Hershey Co has a 1 year low of $100.80 and a 1 year high of $162.20. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47. The firm has a market capitalization of $29.35 billion, a PE ratio of 26.30, a price-to-earnings-growth ratio of 3.34 and a beta of 0.06.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Hershey had a return on equity of 77.39% and a net margin of 16.18%. The company had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the previous year, the firm earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. As a group, sell-side analysts expect that Hershey Co will post 5.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a $0.773 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.09 annualized dividend and a yield of 2.19%. Hershey’s dividend payout ratio (DPR) is presently 57.65%.
Hershey Company Profile
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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