Ignite Planners LLC Has $388,000 Position in The Hershey Company (NYSE:HSY)

Ignite Planners LLC lowered its stake in shares of The Hershey Company (NYSE:HSYGet Rating) by 4.0% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 1,767 shares of the company’s stock after selling 73 shares during the period. Ignite Planners LLC’s holdings in Hershey were worth $388,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. TKG Advisors LLC acquired a new position in shares of Hershey during the second quarter valued at about $2,803,000. IFM Investors Pty Ltd raised its position in Hershey by 10.8% in the second quarter. IFM Investors Pty Ltd now owns 24,932 shares of the company’s stock worth $5,364,000 after purchasing an additional 2,438 shares in the last quarter. Franklin Street Advisors Inc. NC acquired a new position in Hershey in the second quarter worth about $792,000. Parkside Financial Bank & Trust raised its position in Hershey by 91.5% in the second quarter. Parkside Financial Bank & Trust now owns 538 shares of the company’s stock worth $115,000 after purchasing an additional 257 shares in the last quarter. Finally, Private Advisor Group LLC raised its position in Hershey by 8.0% in the second quarter. Private Advisor Group LLC now owns 10,453 shares of the company’s stock worth $2,249,000 after purchasing an additional 774 shares in the last quarter. Institutional investors and hedge funds own 54.28% of the company’s stock.

Insiders Place Their Bets

In other Hershey news, CEO Michele Buck sold 14,250 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $221.86, for a total value of $3,161,505.00. Following the sale, the chief executive officer now directly owns 170,555 shares in the company, valued at $37,839,332.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Hershey news, CEO Michele Buck sold 14,250 shares of the stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $221.86, for a total value of $3,161,505.00. Following the sale, the chief executive officer now directly owns 170,555 shares in the company, valued at $37,839,332.30. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pamela M. Arway sold 234 shares of the stock in a transaction on Friday, July 8th. The stock was sold at an average price of $220.93, for a total transaction of $51,697.62. Following the completion of the sale, the director now owns 15,643 shares in the company, valued at $3,456,007.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 870,538 shares of company stock worth $191,962,935. Company insiders own 0.34% of the company’s stock.

Hershey Trading Down 1.2 %

NYSE HSY traded down $2.60 during trading hours on Friday, hitting $222.92. The company’s stock had a trading volume of 13,672 shares, compared to its average volume of 759,190. The stock has a fifty day moving average of $224.99 and a 200 day moving average of $219.29. The Hershey Company has a twelve month low of $167.80 and a twelve month high of $234.56. The firm has a market capitalization of $45.69 billion, a P/E ratio of 28.39, a PEG ratio of 3.55 and a beta of 0.34. The company has a quick ratio of 0.37, a current ratio of 0.74 and a debt-to-equity ratio of 1.16.

Hershey (NYSE:HSYGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.11. Hershey had a net margin of 16.76% and a return on equity of 60.62%. The business had revenue of $2.37 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period in the prior year, the business posted $1.47 earnings per share. Hershey’s revenue was up 19.3% compared to the same quarter last year. Equities research analysts forecast that The Hershey Company will post 8.21 earnings per share for the current fiscal year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Friday, August 19th were issued a $1.036 dividend. This is a positive change from Hershey’s previous quarterly dividend of $0.90. This represents a $4.14 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Thursday, August 18th. Hershey’s dividend payout ratio is currently 52.67%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Cowen assumed coverage on shares of Hershey in a research report on Wednesday, September 14th. They issued a “market perform” rating and a $238.00 price target for the company. Cowen started coverage on shares of Hershey in a research note on Wednesday, September 14th. They set a “market perform” rating and a $238.00 price objective on the stock. Royal Bank of Canada started coverage on shares of Hershey in a research note on Wednesday, September 14th. They set an “outperform” rating on the stock. StockNews.com cut shares of Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $219.00 to $227.00 in a research note on Friday, July 29th. Nine investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Hershey presently has an average rating of “Hold” and an average target price of $221.94.

Hershey Profile

(Get Rating)

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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