TD Asset Management Inc. reduced its position in The Hershey Company (NYSE:HSY) by 0.3% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 542,617 shares of the company’s stock after selling 1,367 shares during the period. TD Asset Management Inc.’s holdings in The Hershey were worth $77,779,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. boosted its position in shares of The Hershey by 2.2% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,575 shares of the company’s stock worth $464,000 after purchasing an additional 77 shares during the last quarter. Carroll Financial Associates Inc. lifted its holdings in The Hershey by 5.4% during the third quarter. Carroll Financial Associates Inc. now owns 1,490 shares of the company’s stock worth $213,000 after acquiring an additional 77 shares in the last quarter. CENTRAL TRUST Co lifted its holdings in The Hershey by 0.7% during the third quarter. CENTRAL TRUST Co now owns 12,720 shares of the company’s stock worth $1,823,000 after acquiring an additional 84 shares in the last quarter. IFP Advisors Inc lifted its holdings in The Hershey by 29.1% during the second quarter. IFP Advisors Inc now owns 377 shares of the company’s stock worth $48,000 after acquiring an additional 85 shares in the last quarter. Finally, Keebeck Alpha LP lifted its holdings in The Hershey by 4.8% during the third quarter. Keebeck Alpha LP now owns 2,017 shares of the company’s stock worth $289,000 after acquiring an additional 93 shares in the last quarter. 52.37% of the stock is owned by institutional investors.
In other The Hershey news, CEO Michele Buck sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $140.31, for a total transaction of $350,775.00. Following the transaction, the chief executive officer now owns 165,121 shares of the company’s stock, valued at $23,168,127.51. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Pamela M. Arway sold 256 shares of the business’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $142.02, for a total value of $36,357.12. Following the sale, the director now owns 16,002 shares of the company’s stock, valued at approximately $2,272,604.04. 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. Company insiders own 29.39% of the company’s stock.
Several research analysts have weighed in on HSY shares. Morgan Stanley lifted their target price on The Hershey from $148.00 to $152.00 and gave the stock an “equal weight” rating in a report on Monday, November 9th. BMO Capital Markets upgraded The Hershey from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $150.00 to $163.00 in a report on Tuesday, September 29th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell started coverage on The Hershey in a report on Monday, October 19th. They issued a “buy” rating and a $172.00 price target on the stock. Zacks Investment Research lowered The Hershey from a “buy” rating to a “hold” rating and set a $148.00 price target on the stock. in a report on Friday, September 18th. Finally, Evercore ISI upgraded The Hershey from an “in-line” rating to an “outperform” rating and boosted their price target for the company from $145.00 to $162.00 in a report on Friday, July 24th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $149.13.
NYSE:HSY opened at $147.78 on Friday. The stock’s 50-day simple moving average is $146.55 and its 200 day simple moving average is $139.99. The company has a market cap of $30.76 billion, a P/E ratio of 28.98, a P/E/G ratio of 2.80 and a beta of 0.26. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.86 and a current ratio of 1.31. The Hershey Company has a 52-week low of $109.88 and a 52-week high of $161.83.
The Hershey (NYSE:HSY) last announced its quarterly earnings results on Wednesday, November 11th. The company reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.14. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. The Hershey had a return on equity of 70.65% and a net margin of 13.50%. The business’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. As a group, equities analysts predict that The Hershey Company will post 6.04 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Friday, November 20th will be given a dividend of $0.804 per share. This represents a $3.22 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, November 19th. The Hershey’s dividend payout ratio (DPR) is presently 55.71%.
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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