Hershey Co. (HSY) Sees Unusually-High Trading Volume
Hershey Co. (NYSE:HSY) shares saw unusually-high trading volume on Wednesday . Approximately 1,702,209 shares changed hands during trading, an increase of 19% from the previous session’s volume of 1,436,099 shares.The stock last traded at $99.71 and had previously closed at $99.65.
HSY has been the topic of a number of recent analyst reports. Bank of America Corp. restated a “sell” rating and set a $90.00 price target on shares of Hershey in a report on Wednesday, May 11th. Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a report on Thursday, May 26th. Citigroup Inc. reiterated a “buy” rating and issued a $102.00 price objective on shares of Hershey in a research note on Wednesday, June 15th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Hershey in a research note on Saturday, July 2nd. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $89.00 price objective on shares of Hershey in a research note on Saturday, July 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Hershey has an average rating of “Hold” and an average price target of $99.90.
The company’s 50-day moving average is $110.28 and its 200-day moving average is $98.26. The company has a market capitalization of $21.30 billion and a PE ratio of 29.25.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.07. The business earned $1.64 billion during the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the business earned $0.78 earnings per share. Hershey’s revenue for the quarter was up 3.7% on a year-over-year basis. On average, equities analysts predict that Hershey Co. will post $4.26 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th will be issued a $0.618 dividend. The ex-dividend date is Tuesday, August 23rd. This represents a $2.47 dividend on an annualized basis and a dividend yield of 2.47%. This is a boost from Hershey’s previous quarterly dividend of $0.58.
In other news, SVP Kevin R. Walling sold 13,568 shares of Hershey stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $96.12, for a total value of $1,304,156.16. Following the sale, the senior vice president now directly owns 43,783 shares in the company, valued at $4,208,421.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the sale, the chief operating officer now owns 165,579 shares in the company, valued at $15,973,406.13. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Hershey stock. BNP Paribas Arbitrage SA boosted its position in Hershey Co. (NYSE:HSY) by 117.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,221 shares of the company’s stock after buying an additional 25,550 shares during the period. BNP Paribas Arbitrage SA’s holdings in Hershey were worth $4,215,000 as of its most recent SEC filing.
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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