Leavell Investment Management Inc. raised its stake in shares of The Hershey Company (NYSE:HSY) by 5.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,044 shares of the company’s stock after acquiring an additional 542 shares during the period. Leavell Investment Management Inc.’s holdings in The Hershey were worth $1,440,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of HSY. Two Sigma Advisers LP purchased a new stake in The Hershey during the 1st quarter valued at approximately $756,000. Tower Research Capital LLC TRC purchased a new stake in The Hershey during the 1st quarter valued at approximately $52,000. Squarepoint Ops LLC purchased a new stake in The Hershey during the 1st quarter valued at approximately $320,000. AXA raised its stake in The Hershey by 0.7% during the 1st quarter. AXA now owns 136,689 shares of the company’s stock valued at $18,112,000 after acquiring an additional 888 shares during the last quarter. Finally, State Street Corp raised its stake in The Hershey by 0.9% during the 1st quarter. State Street Corp now owns 7,800,362 shares of the company’s stock valued at $1,033,548,000 after acquiring an additional 71,064 shares during the last quarter. 52.37% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on the company. Evercore ISI raised The Hershey from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $145.00 to $162.00 in a research note on Friday, July 24th. BMO Capital Markets upgraded The Hershey from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $150.00 to $163.00 in a research report on Tuesday, September 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on The Hershey in a research report on Monday, October 19th. They set a “buy” rating and a $172.00 target price on the stock. Morgan Stanley boosted their target price on The Hershey from $136.00 to $148.00 and gave the stock an “equal weight” rating in a research report on Friday, July 24th. Finally, Jefferies Financial Group boosted their target price on The Hershey from $136.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The Hershey presently has an average rating of “Hold” and an average price target of $147.88.
In related news, Director Pamela M. Arway sold 256 shares of The Hershey stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $142.02, for a total value of $36,357.12. Following the completion of the transaction, the director now directly owns 16,002 shares in the company, valued at $2,272,604.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michele Buck sold 2,500 shares of The Hershey stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $140.31, for a total value of $350,775.00. Following the completion of the transaction, the chief executive officer now owns 165,121 shares of the company’s stock, valued at $23,168,127.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,256 shares of company stock worth $738,682. Corporate insiders own 29.39% of the company’s stock.
Shares of The Hershey stock opened at $137.83 on Friday. The Hershey Company has a fifty-two week low of $109.88 and a fifty-two week high of $161.83. The firm has a market cap of $28.67 billion, a PE ratio of 27.03, a P/E/G ratio of 2.88 and a beta of 0.21. The business’s fifty day moving average is $143.73 and its two-hundred day moving average is $139.15. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 2.33.
The Hershey 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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