Investors Sell Shares of Hershey Co. (HSY) on Strength (HSY)
Investors sold shares of Hershey Co. (NYSE:HSY) on strength during trading on Monday. $17.37 million flowed into the stock on the tick-up and $30.98 million flowed out of the stock on the tick-down, for a money net flow of $13.61 million out of the stock. Of all equities tracked, Hershey had the 0th highest net out-flow for the day. Hershey traded up $0.27 for the day and closed at $113.89
A number of equities analysts recently issued reports on the stock. Vetr upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $114.32 price objective for the company in a research report on Tuesday, July 19th. Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $89.00 price objective on shares of Hershey in a research report on Saturday, July 2nd. Citigroup Inc. reiterated a “buy” rating and set a $102.00 price objective on shares of Hershey in a research report on Wednesday, June 15th. Finally, BMO Capital Markets reiterated a “neutral” rating on shares of Hershey in a research report on Friday, July 29th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. Hershey has a consensus rating of “Hold” and an average target price of $99.16.
The stock has a 50-day moving average of $110.69 and a 200 day moving average of $97.37. The company has a market cap of $24.28 billion and a price-to-earnings ratio of 33.35.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The company earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same period in the prior year, the business earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, equities research analysts predict that Hershey Co. will post $4.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Thursday, August 25th will be paid a $0.618 dividend. This is a positive change from Hershey’s previous quarterly dividend of $0.58. This represents a $2.47 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Tuesday, August 23rd.
In other Hershey news, COO Michele Buck sold 10,369 shares of Hershey stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $96.47, for a total transaction of $1,000,297.43. Following the transaction, the chief operating officer now directly owns 165,579 shares of the company’s stock, valued at $15,973,406.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $96.51, for a total transaction of $106,161.00. Following the transaction, the senior vice president now directly owns 27,388 shares in the company, valued at $2,643,215.88. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. Utah Retirement Systems increased its position in Hershey by 0.4% in the fourth quarter. Utah Retirement Systems now owns 26,186 shares of the company’s stock valued at $2,338,000 after buying an additional 100 shares during the period. BNP Paribas Arbitrage SA increased its position in Hershey by 117.9% in the fourth quarter. BNP Paribas Arbitrage SA now owns 47,221 shares of the company’s stock valued at $4,215,000 after buying an additional 25,550 shares during the period. BlackRock Advisors LLC increased its position in Hershey by 32.2% in the fourth quarter. BlackRock Advisors LLC now owns 170,028 shares of the company’s stock valued at $15,178,000 after buying an additional 41,438 shares during the period. Finally, Principal Financial Group Inc. increased its position in Hershey by 2.5% in the fourth quarter. Principal Financial Group Inc. now owns 212,557 shares of the company’s stock valued at $18,975,000 after buying an additional 5,219 shares during the period.
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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