Sei Investments Co. lifted its stake in shares of Hershey Company (The) (NYSE:HSY) by 4.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 111,223 shares of the company’s stock after buying an additional 4,566 shares during the quarter. Sei Investments Co. owned approximately 0.05% of Hershey Company (The) worth $12,143,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in HSY. Janus Henderson Group PLC grew its position in shares of Hershey Company (The) by 19,853.3% during the second quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock worth $406,519,000 after buying an additional 3,767,172 shares in the last quarter. APG Asset Management N.V. lifted its stake in Hershey Company (The) by 417.5% during the third quarter. APG Asset Management N.V. now owns 1,297,179 shares of the company’s stock worth $141,613,000 after purchasing an additional 1,046,500 shares during the last quarter. AJO LP lifted its stake in Hershey Company (The) by 13,232.0% during the second quarter. AJO LP now owns 747,924 shares of the company’s stock worth $80,305,000 after purchasing an additional 742,314 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Hershey Company (The) by 60.3% during the second quarter. Renaissance Technologies LLC now owns 1,699,400 shares of the company’s stock worth $182,465,000 after purchasing an additional 639,400 shares during the last quarter. Finally, Koch Industries Inc. purchased a new stake in Hershey Company (The) during the second quarter worth approximately $614,000. 50.22% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Hershey Company (The) from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Monday, October 2nd. Credit Suisse Group reiterated a “buy” rating and issued a $121.00 price objective on shares of Hershey Company (The) in a research note on Friday, July 28th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $115.00 price objective (up previously from $114.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Susquehanna Bancshares Inc set a $118.00 price objective on Hershey Company (The) and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $111.00 price objective (down previously from $112.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average price target of $113.35.
Shares of Hershey Company (NYSE HSY) opened at $109.10 on Friday. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55. Hershey Company has a 12-month low of $95.68 and a 12-month high of $116.49. The stock has a market capitalization of $22,983.88, a price-to-earnings ratio of 22.27, a PEG ratio of 2.97 and a beta of 0.36.
Hershey Company (The) (NYSE:HSY) last released its earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Hershey Company (The) had a return on equity of 124.06% and a net margin of 9.52%. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the prior year, the business posted $1.29 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. sell-side analysts anticipate that Hershey Company will post 4.8 EPS for the current fiscal year.
Hershey Company (The) announced that its Board of Directors has authorized a share repurchase plan on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be issued a $0.656 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.41%. Hershey Company (The)’s dividend payout ratio (DPR) is 77.98%.
In other news, VP Javier H. Idrovo sold 15,132 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $110.04, for a total value of $1,665,125.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP D Michael Wege sold 15,517 shares of the stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,534,049 shares of company stock worth $480,760,013. Company insiders own 0.92% of the company’s stock.
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Hershey Company (The) Company Profile
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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