Hershey Co. (HSY) Shares Sold by Wagner Bowman Management Corp
Wagner Bowman Management Corp reduced its stake in Hershey Co. (NYSE:HSY) by 3.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,303 shares of the company’s stock after selling 130 shares during the period. Wagner Bowman Management Corp’s holdings in Hershey were worth $374,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HSY. Norges Bank purchased a new position in Hershey during the fourth quarter valued at $83,758,000. Chevy Chase Trust Holdings Inc. boosted its position in Hershey by 2.2% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 125,503 shares of the company’s stock valued at $11,557,000 after buying an additional 2,643 shares during the last quarter. DnB Asset Management AS boosted its position in Hershey by 40.1% in the first quarter. DnB Asset Management AS now owns 15,032 shares of the company’s stock valued at $1,384,000 after buying an additional 4,300 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Hershey by 10.9% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 33,517 shares of the company’s stock valued at $3,087,000 after buying an additional 3,307 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in Hershey by 14.4% in the first quarter. Capstone Asset Management Co. now owns 58,517 shares of the company’s stock valued at $5,389,000 after buying an additional 7,376 shares during the last quarter. 53.11% of the stock is currently owned by hedge funds and other institutional investors.
Hershey Co. (NYSE:HSY) traded up 0.88% during trading on Wednesday, reaching $96.36. 1,062,668 shares of the company were exchanged. The stock has a market capitalization of $20.54 billion, a P/E ratio of 28.22 and a beta of 0.20. The company’s 50-day moving average price is $105.25 and its 200-day moving average price is $98.85. Hershey Co. has a 1-year low of $82.42 and a 1-year high of $117.79.
Hershey (NYSE:HSY) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. Hershey had a net margin of 10.14% and a return on equity of 100.78%. Hershey’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, equities analysts forecast that Hershey Co. will post $4.26 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were issued a $0.618 dividend. This is an increase from Hershey’s previous quarterly dividend of $0.58. This represents a $2.47 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, August 23rd. Hershey’s payout ratio is currently 72.22%.
Several research analysts have recently weighed in on HSY shares. Zacks Investment Research raised shares of Hershey from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Citigroup Inc. reaffirmed a “buy” rating and issued a $102.00 price target on shares of Hershey in a report on Wednesday, June 15th. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Hershey in a research note on Saturday, July 2nd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $89.00 target price on shares of Hershey in a research note on Saturday, July 2nd. Finally, Argus cut Hershey from a “buy” rating to a “hold” rating and increased their target price for the company from $97.14 to $111.95 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. Hershey currently has a consensus rating of “Hold” and an average price target of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $108.43, for a total value of $119,273.00. Following the sale, the senior vice president now directly owns 27,288 shares in the company, valued at approximately $2,958,837.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Michele Buck sold 13,500 shares of the business’s stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $107.31, for a total transaction of $1,448,685.00. Following the completion of the sale, the chief operating officer now owns 168,710 shares in the company, valued at $18,104,270.10. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by company insiders.
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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