Hershey Co. (HSY) SVP D Michael Wege Sells 1,100 Shares
Hershey Co. (NYSE:HSY) SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $96.40, for a total value of $106,040.00. Following the completion of the transaction, the senior vice president now directly owns 26,988 shares of the company’s stock, valued at approximately $2,601,643.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
D Michael Wege also recently made the following trade(s):
- On Monday, August 15th, D Michael Wege sold 1,100 shares of Hershey stock. The shares were sold at an average price of $111.41, for a total value of $122,551.00.
Hershey Co. (NYSE:HSY) opened at 96.31 on Wednesday. The company has a 50 day moving average price of $96.37 and a 200 day moving average price of $99.35. The stock has a market cap of $20.53 billion, a price-to-earnings ratio of 28.20 and a beta of 0.23. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
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 consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. 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. Hershey’s revenue for the quarter was up 3.7% on a year-over-year basis. Analysts expect that Hershey Co. will post $4.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be paid a $0.618 dividend. The ex-dividend date of this dividend is Monday, November 21st. This represents a $2.47 annualized dividend and a yield of 2.57%. Hershey’s dividend payout ratio is presently 72.22%.
Institutional investors have recently added to or reduced their stakes in the stock. Wendell David Associates Inc. increased its position in Hershey by 0.7% in the third quarter. Wendell David Associates Inc. now owns 7,295 shares of the company’s stock valued at $697,000 after buying an additional 50 shares in the last quarter. BTIM Corp. increased its position in Hershey by 7.1% in the third quarter. BTIM Corp. now owns 204,005 shares of the company’s stock valued at $19,503,000 after buying an additional 13,570 shares in the last quarter. National Pension Service increased its position in Hershey by 9.3% in the third quarter. National Pension Service now owns 114,174 shares of the company’s stock valued at $10,915,000 after buying an additional 9,729 shares in the last quarter. Private Bank & Trust Co. bought a new position in Hershey during the third quarter valued at about $480,000. Finally, MSI Financial Services Inc increased its position in Hershey by 28.2% in the third quarter. MSI Financial Services Inc now owns 4,698 shares of the company’s stock valued at $449,000 after buying an additional 1,034 shares in the last quarter. Institutional investors own 53.01% of the company’s stock.
Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Hershey from a “hold” rating to a “sell” rating in a research note on Monday. Vetr raised Hershey from a “buy” rating to a “strong-buy” rating and set a $110.00 price objective for the company in a research note on Thursday, September 8th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $100.00 price objective on shares of Hershey in a research note on Tuesday, September 6th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $112.00 target price on shares of Hershey in a report on Tuesday, August 30th. Finally, Bank of America Corp. started coverage on Hershey in a report on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 target price on the stock. Four analysts have rated the stock with a sell rating, ten have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $100.50.
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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