Kornitzer Capital Management Inc. KS decreased its position in shares of Hershey Co (NYSE:HSY) by 2.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,492 shares of the company’s stock after selling 923 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Hershey were worth $7,051,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. Krane Funds Advisors LLC purchased a new stake in shares of Hershey during the second quarter valued at $25,000. Country Trust Bank purchased a new stake in shares of Hershey during the third quarter valued at $30,000. Adirondack Trust Co. purchased a new stake in shares of Hershey during the third quarter valued at $31,000. Eii Capital Management Inc. purchased a new stake in shares of Hershey during the third quarter valued at $31,000. Finally, Berman Capital Advisors LLC boosted its stake in shares of Hershey by 172.8% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $28,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 53.50% of the company’s stock.
In other Hershey news, major shareholder Hershey Trust Co sold 3,100 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $158.38, for a total transaction of $490,978.00. Following the completion of the sale, the insider now directly owns 83,230 shares of the company’s stock, valued at $13,181,967.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin R. Walling sold 17,745 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total transaction 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 $6,878,503.77. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,009 shares of company stock valued at $5,103,372. 0.41% of the stock is owned by insiders.
NYSE:HSY traded down $0.35 during mid-day trading on Friday, reaching $140.97. The company’s stock had a trading volume of 453,727 shares, compared to its average volume of 1,204,769. Hershey Co has a 1 year low of $100.80 and a 1 year high of $162.20. The stock has a fifty day moving average of $150.66 and a 200-day moving average of $143.55. 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. The company has a quick ratio of 0.47, a current ratio of 0.80 and a debt-to-equity ratio of 1.64.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, October 24th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.01. Hershey had a net margin of 16.18% and a return on equity of 77.39%. The company had revenue of $2.13 billion during the quarter, compared to analyst estimates of $2.12 billion. During the same period in the prior year, the firm earned $1.55 earnings per share. The firm’s revenue for the quarter was up 2.6% compared to the same quarter last year. On average, analysts expect that Hershey Co will post 5.73 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 22nd will be paid a $0.773 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 57.65%.
HSY has been the subject of a number of recent analyst reports. Wells Fargo & Co boosted their target price on shares of Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Citigroup boosted their target price on shares of Hershey from $140.00 to $170.00 and gave the company a “buy” rating in a research note on Thursday, July 18th. Credit Suisse Group boosted their target price on shares of Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Goldman Sachs Group raised shares of Hershey from a “sell” rating to a “neutral” rating and boosted their target price for the company from $86.00 to $142.00 in a research note on Wednesday, July 17th. Finally, Royal Bank of Canada initiated coverage on shares of Hershey in a research note on Thursday, October 17th. They set a “sector perform” rating and a $158.00 target price for the company. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the stock. Hershey currently has a consensus rating of “Hold” and an average target price of $145.57.
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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