Hendley & Co. Inc. raised its position in Hershey Co (NYSE:HSY) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 43,718 shares of the company’s stock after buying an additional 305 shares during the quarter. Hershey accounts for 2.6% of Hendley & Co. Inc.’s holdings, making the stock its 15th largest position. Hendley & Co. Inc.’s holdings in Hershey were worth $5,020,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in HSY. Oregon Public Employees Retirement Fund boosted its holdings in Hershey by 10,179.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock valued at $32,000 after purchasing an additional 3,423,036 shares during the period. Norges Bank bought a new stake in shares of Hershey during the 4th quarter worth $142,502,000. BlackRock Inc. lifted its holdings in shares of Hershey by 8.4% during the 4th quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock worth $1,475,299,000 after acquiring an additional 1,070,632 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Hershey by 365.2% during the 1st quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock worth $109,523,000 after acquiring an additional 748,757 shares during the last quarter. Finally, FMR LLC lifted its holdings in shares of Hershey by 9.8% during the 4th quarter. FMR LLC now owns 6,142,122 shares of the company’s stock worth $658,314,000 after acquiring an additional 550,341 shares during the last quarter. 53.56% of the stock is owned by hedge funds and other institutional investors.
Shares of HSY opened at $138.32 on Monday. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59. The stock has a market cap of $28.88 billion, a P/E ratio of 25.81, a P/E/G ratio of 3.03 and a beta of 0.11. Hershey Co has a 1-year low of $90.52 and a 1-year high of $139.34.
Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.11. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. During the same quarter in the previous year, the firm earned $1.41 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Research analysts forecast that Hershey Co will post 5.7 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were paid a $0.722 dividend. This represents a $2.89 annualized dividend and a dividend yield of 2.09%. The ex-dividend date of this dividend was Thursday, May 23rd. Hershey’s dividend payout ratio is currently 53.92%.
In related news, Director Anthony J. Palmer sold 5,000 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $130.43, for a total value of $652,150.00. Following the completion of the transaction, the director now directly owns 10,014 shares in the company, valued at approximately $1,306,126.02. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Michele Buck sold 1,500 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $138.01, for a total transaction of $207,015.00. Following the completion of the transaction, the chief executive officer now owns 159,929 shares of the company’s stock, valued at $22,071,801.29. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 3,100 shares of company stock valued at $401,990 and sold 3,628,751 shares valued at $457,274,702. Insiders own 0.41% of the company’s stock.
A number of analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Hershey from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, May 16th. Credit Suisse Group set a $123.00 price target on shares of Hershey and gave the stock a “hold” rating in a research note on Friday, April 26th. Evercore ISI began coverage on shares of Hershey in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $145.00 price objective on the stock. UBS Group set a $100.00 price objective on shares of Hershey and gave the company a “sell” rating in a research report on Friday, April 26th. Finally, Barclays boosted their price target on shares of Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a research report on Friday, April 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $116.50.
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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.
Further Reading: Strike Price
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