Savant Capital LLC Invests $458,000 in Hershey Co. (HSY)
Savant Capital LLC bought a new stake in Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,038 shares of the company’s stock, valued at approximately $458,000.
Other hedge funds have also added to or reduced their stakes in the company. State Street Corp increased its stake in Hershey by 1.2% in the first quarter. State Street Corp now owns 6,333,795 shares of the company’s stock valued at $583,282,000 after buying an additional 75,976 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in Hershey by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,186,582 shares of the company’s stock valued at $385,542,000 after buying an additional 76,996 shares during the period. BlackRock Fund Advisors increased its stake in Hershey by 7.8% in the first quarter. BlackRock Fund Advisors now owns 3,197,652 shares of the company’s stock valued at $294,472,000 after buying an additional 231,618 shares during the period. Renaissance Technologies LLC increased its stake in Hershey by 12.5% in the first quarter. Renaissance Technologies LLC now owns 2,493,937 shares of the company’s stock valued at $229,667,000 after buying an additional 277,637 shares during the period. Finally, BlackRock Group LTD increased its stake in Hershey by 14.6% in the first quarter. BlackRock Group LTD now owns 1,646,852 shares of the company’s stock valued at $151,658,000 after buying an additional 210,412 shares during the period. Institutional investors and hedge funds own 53.11% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.34% during midday trading on Wednesday, hitting $94.71. The stock had a trading volume of 2,303,295 shares. The firm has a 50 day moving average price of $101.16 and a 200 day moving average price of $99.09. Hershey Co. has a one year low of $82.42 and a one year high of $117.79. The stock has a market cap of $20.19 billion, a PE ratio of 27.73 and a beta of 0.23.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $1.61 billion. During the same period last year, the business posted $0.78 EPS. Hershey’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts forecast that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a yield of 2.61%. This is a boost from Hershey’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, August 23rd. Hershey’s dividend payout ratio (DPR) is 72.22%.
Several analysts have recently weighed in on HSY shares. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $89.00 target price on shares of Hershey in a research report on Saturday, July 2nd. Zacks Investment Research upgraded Hershey from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Royal Bank Of Canada decreased their target price on Hershey from $105.00 to $92.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 27th. Bank of America Corp. started coverage on Hershey in a research report on Tuesday, August 30th. They set an “underperform” rating and a $100.00 target price for the company. Finally, RBC Capital Markets reiterated a “sector perform” rating and set a $105.00 target price (up from $92.00) on shares of Hershey in a research report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Hershey has an average rating of “Hold” and a consensus price target of $100.50.
In related news, SVP D Michael Wege sold 1,100 shares of the firm’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $108.43, for a total transaction of $119,273.00. Following the completion of the transaction, the senior vice president now directly owns 27,288 shares in the company, valued at approximately $2,958,837.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate 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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