Wealth Enhancement Advisory Services LLC lowered its position in Hershey Co (NYSE:HSY) by 3.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 14,907 shares of the company’s stock after selling 475 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Hershey were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the stock. American National Bank grew its holdings in shares of Hershey by 1.4% in the second quarter. American National Bank now owns 5,251 shares of the company’s stock worth $704,000 after acquiring an additional 71 shares during the period. Tdam USA Inc. grew its holdings in shares of Hershey by 2.7% in the second quarter. Tdam USA Inc. now owns 2,753 shares of the company’s stock worth $369,000 after acquiring an additional 73 shares during the period. Cornerstone Advisors Inc. lifted its position in Hershey by 37.3% during the first quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock valued at $35,000 after purchasing an additional 82 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its position in Hershey by 25.2% during the first quarter. Patriot Financial Group Insurance Agency LLC now owns 417 shares of the company’s stock valued at $48,000 after purchasing an additional 84 shares in the last quarter. Finally, Benedict Financial Advisors Inc. lifted its position in Hershey by 0.4% during the second quarter. Benedict Financial Advisors Inc. now owns 25,436 shares of the company’s stock valued at $3,409,000 after purchasing an additional 92 shares in the last quarter. 53.89% of the stock is owned by institutional investors.
In other news, CEO Michele Buck sold 6,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $129.14, for a total value of $774,840.00. Following the transaction, the chief executive officer now directly owns 163,429 shares in the company, valued at $21,105,221.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $129.14, for a total value of $67,702,936.40. Following the completion of the transaction, the insider now owns 473,052 shares in the company, valued at $61,089,935.28. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 3,100 shares of company stock worth $401,990 and sold 661,336 shares worth $86,643,260. 0.41% of the stock is owned by insiders.
Several equities analysts recently weighed in on the company. UBS Group upgraded Hershey from a “sell” rating to a “neutral” rating and lifted their target price for the company from $100.00 to $145.00 in a research report on Monday, July 22nd. BMO Capital Markets lifted their target price on Hershey to $133.00 and gave the company a “market perform” rating in a research report on Friday, July 26th. Piper Jaffray Companies downgraded Hershey from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $122.00 to $125.00 in a research report on Wednesday, June 19th. Citigroup lifted their target price on Hershey from $140.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, July 18th. Finally, Stifel Nicolaus lifted their target price on Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, July 26th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $138.71.
Shares of Hershey stock traded up $2.98 during trading hours on Thursday, hitting $155.40. The company’s stock had a trading volume of 40,210 shares, compared to its average volume of 1,374,817. The stock has a 50 day moving average price of $145.09. Hershey Co has a 12-month low of $98.01 and a 12-month high of $156.69. The firm has a market cap of $32.67 billion, a P/E ratio of 28.75, a PEG ratio of 3.39 and a beta of 0.09. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 1.71.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 25th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.13. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the previous year, the business earned $1.14 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts predict that Hershey Co will post 5.74 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be given a $0.773 dividend. This represents a $3.09 annualized dividend and a dividend yield of 1.99%. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, August 22nd. Hershey’s payout ratio is presently 53.92%.
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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