Louisiana State Employees Retirement System Sells 400 Shares of Hershey Co. (HSY)
Louisiana State Employees Retirement System decreased its stake in Hershey Co. (NYSE:HSY) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 9,200 shares of the company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Hershey were worth $1,044,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Orrstown Financial Services Inc. raised its position in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock valued at $107,000 after buying an additional 20 shares during the last quarter. Boys Arnold & Co. Inc. purchased a new position in Hershey during the second quarter valued at $212,000. Trust Co. of Virginia VA purchased a new position in Hershey during the second quarter valued at $212,000. Nadler Financial Group Inc. purchased a new position in Hershey during the second quarter valued at $222,000. Finally, Mechanics Bank Trust Department purchased a new position in Hershey during the second quarter valued at $227,000. 53.11% of the stock is currently owned by institutional investors and hedge funds.
Hershey Co. (NYSE:HSY) traded up 1.01% during mid-day trading on Friday, hitting $95.60. 959,812 shares of the stock were exchanged. Hershey Co. has a 1-year low of $82.42 and a 1-year high of $117.79. The stock has a 50 day moving average price of $102.10 and a 200 day moving average price of $98.95. The company has a market capitalization of $20.38 billion, a PE ratio of 27.99 and a beta of 0.20.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 company earned $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The firm’s revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were paid a $0.618 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $2.47 annualized dividend and a dividend yield of 2.59%. This is an increase from Hershey’s previous quarterly dividend of $0.58. Hershey’s dividend payout ratio is currently 72.22%.
Several research firms recently weighed in on HSY. Deutsche Bank AG reduced their price objective on shares of Hershey from $105.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, July 26th. Vetr raised shares of Hershey from a “hold” rating to a “buy” rating and set a $115.74 price objective on the stock in a research note on Wednesday, August 24th. S&P Equity Research raised shares of Hershey from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $94.00 to $126.00 in a research note on Tuesday, July 5th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $100.00 price objective on shares of Hershey in a research note on Tuesday, September 6th. Finally, Zacks Investment Research lowered shares of Hershey from a “hold” rating to a “sell” rating in a research note on Tuesday, June 7th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $100.50.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $111.41, for a total transaction of $122,551.00. Following the completion of the sale, the senior vice president now owns 27,188 shares of the company’s stock, valued at approximately $3,029,015.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.68% of the company’s stock.
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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