Headinvest LLC Lowers Position in Hershey Co. (HSY)
Headinvest LLC reduced its stake in shares of Hershey Co. (NYSE:HSY) by 3.1% during the second quarter, Holdings Channel reports. The firm owned 3,100 shares of the company’s stock after selling 100 shares during the period. Headinvest LLC’s holdings in Hershey were worth $352,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in HSY. Norges Bank bought a new position in Hershey during the fourth quarter valued at about $83,758,000. Chevy Chase Trust Holdings Inc. raised 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 in the last quarter. DnB Asset Management AS raised 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 in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised 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 in the last quarter. Finally, Exxonmobil Investment Management Inc. TX raised its position in Hershey by 8.4% in the first quarter. Exxonmobil Investment Management Inc. TX now owns 34,921 shares of the company’s stock valued at $3,216,000 after buying an additional 2,716 shares in the last quarter. 53.11% of the stock is owned by institutional investors.
Hershey Co. (NYSE:HSY) traded down 0.21% during mid-day trading on Thursday, hitting $96.16. The company had a trading volume of 947,457 shares. The company’s 50 day moving average price is $104.84 and its 200-day moving average price is $98.83. The firm has a market capitalization of $20.50 billion, a PE ratio of 28.16 and a beta of 0.20. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.07. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The firm earned $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the business posted $0.78 EPS. The business’s revenue was up 3.7% compared to the same quarter last year. On average, analysts forecast that Hershey Co. will post $4.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were issued a dividend of $0.618 per share. 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 dividend payout ratio (DPR) is presently 72.22%.
Several research analysts have recently issued reports on HSY shares. Zacks Investment Research upgraded Hershey from a “sell” rating to a “hold” rating in a research report on Thursday, May 26th. Citigroup Inc. restated a “buy” rating and issued a $102.00 price target on shares of Hershey in a research report on Wednesday, June 15th. JPMorgan Chase & Co. restated a “neutral” rating on shares of Hershey in a research report on Saturday, July 2nd. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $89.00 price target on shares of Hershey in a research report on Saturday, July 2nd. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating and raised their price target for the stock from $97.14 to $111.95 in a research report on Tuesday, July 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $100.50.
In other Hershey news, COO Michele Buck sold 13,500 shares of the 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 directly owns 168,710 shares in the company, valued at approximately $18,104,270.10. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $108.43, for a total value of $119,273.00. Following the sale, the senior vice president now owns 27,288 shares of the company’s stock, valued at $2,958,837.84. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
Hershey Company Profile
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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