Ropes Wealth Advisors LLC raised its stake in Hershey Co (NYSE:HSY) by 3.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,072 shares of the company’s stock after acquiring an additional 200 shares during the quarter. Ropes Wealth Advisors LLC’s holdings in Hershey were worth $941,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. APG Asset Management N.V. raised its holdings in shares of Hershey by 145.7% in the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock worth $319,972,000 after acquiring an additional 1,612,100 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Hershey by 60.0% in the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock valued at $568,363,000 after purchasing an additional 1,589,800 shares during the period. Nuveen Asset Management LLC grew its position in shares of Hershey by 34,749.1% in the second quarter. Nuveen Asset Management LLC now owns 1,015,850 shares of the company’s stock valued at $136,154,000 after purchasing an additional 1,012,935 shares during the period. Vanguard Group Inc. grew its position in shares of Hershey by 4.8% in the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock valued at $1,578,920,000 after purchasing an additional 537,363 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of Hershey by 236.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock valued at $92,368,000 after purchasing an additional 484,496 shares during the period. 53.50% of the stock is owned by institutional investors.
In other Hershey news, CEO Michele Buck sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $155.13, for a total transaction of $232,695.00. Following the completion of the sale, the chief executive officer now owns 155,429 shares of the company’s stock, valued at $24,111,700.77. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Kevin R. Walling sold 17,745 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total value of $2,736,811.35. Following the sale, the senior vice president now directly owns 44,599 shares of the company’s stock, valued at approximately $6,878,503.77. The disclosure for this sale can be found here. In the last three months, insiders have sold 31,509 shares of company stock valued at $4,870,032. 0.41% of the stock is owned by company insiders.
HSY stock traded up $0.76 during trading on Monday, reaching $141.73. 510,942 shares of the stock traded hands, compared to its average volume of 1,204,769. The business’s 50 day moving average price is $150.66 and its 200-day moving average price is $143.55. Hershey Co has a 52-week low of $100.80 and a 52-week 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 26.44, a P/E/G ratio of 3.34 and a beta of 0.06.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ 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 firm had revenue of $2.13 billion during the quarter, compared to the consensus estimate of $2.12 billion. During the same quarter in the previous year, the business earned $1.55 earnings per share. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Hershey Co will post 5.73 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 57.65%.
A number of brokerages have recently commented on HSY. Credit Suisse Group lifted their price objective on Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. UBS Group set a $147.00 price objective on Hershey and gave the company a “hold” rating in a research report on Friday, October 25th. Goldman Sachs Group raised 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 research report on Wednesday, July 17th. Stifel Nicolaus lifted their price objective on Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research 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 research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. Hershey currently has an average rating of “Hold” and an average price target of $145.57.
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.
Read More: FAANG Stocks
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co (NYSE:HSY).
Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.