US Bancorp DE Has $12,016,000 Position in Hershey Co. (HSY)
US Bancorp DE boosted its stake in shares of Hershey Co. (NYSE:HSY) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 125,690 shares of the company’s stock after buying an additional 3,267 shares during the period. US Bancorp DE’s holdings in Hershey were worth $12,016,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Orrstown Financial Services Inc. increased its position in shares of 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. Grisanti Capital Management LLC bought a new position in Hershey during the second quarter worth $138,000. NEXT Financial Group Inc boosted its position in Hershey by 69.9% in the third quarter. NEXT Financial Group Inc now owns 1,225 shares of the company’s stock worth $117,000 after buying an additional 504 shares during the last quarter. First Personal Financial Services bought a new position in Hershey during the second quarter worth $150,000. Finally, Van ECK Associates Corp boosted its position in Hershey by 8.3% in the second quarter. Van ECK Associates Corp now owns 1,408 shares of the company’s stock worth $160,000 after buying an additional 108 shares during the last quarter. 50.70% of the stock is owned by institutional investors and hedge funds.
Shares of Hershey Co. (NYSE:HSY) traded up 0.84% during midday trading on Tuesday, hitting $98.66. The stock had a trading volume of 501,024 shares. The stock has a market cap of $20.94 billion, a P/E ratio of 26.14 and a beta of 0.32. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79. The stock has a 50-day moving average price of $97.99 and a 200-day moving average price of $100.72.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Friday, October 28th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.19 by $0.10. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.15 billion. Hershey had a net margin of 11.07% and a return on equity of 102.75%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.17 earnings per share. Equities analysts forecast that Hershey Co. will post $4.31 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be given a $0.618 dividend. The ex-dividend date is Monday, November 21st. This represents a $2.47 annualized dividend and a yield of 2.53%. Hershey’s dividend payout ratio (DPR) is 65.34%.
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A number of research analysts recently commented on the company. Vetr raised Hershey from a “hold” rating to a “buy” rating and set a $115.74 price target on the stock in a report on Wednesday, August 24th. Citigroup Inc. upgraded Hershey from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $115.00 to $110.00 in a research note on Thursday, October 27th. JPMorgan Chase & Co. restated a “neutral” rating and set a $100.00 price objective on shares of Hershey in a research note on Tuesday, September 6th. Zacks Investment Research cut Hershey from a “hold” rating to a “sell” rating in a research note on Monday, October 17th. Finally, Credit Suisse Group AG restated a “neutral” rating and set a $112.00 price objective on shares of Hershey in a research note on Tuesday, August 30th. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company. Hershey has a consensus rating of “Hold” and an average target price of $101.81.
In other Hershey news, SVP Leslie M. Turner sold 40,128 shares of Hershey stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $102.22, for a total value of $4,101,884.16. Following the transaction, the senior vice president now owns 91,622 shares in the company, valued at $9,365,600.84. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $96.40, for a total transaction of $106,040.00. Following the completion of the transaction, the senior vice president now owns 26,988 shares in the company, valued at approximately $2,601,643.20. 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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