Pioneer Investment Management Inc. lowered its stake in shares of Hershey Company (The) (NYSE:HSY) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 3,774,614 shares of the company’s stock after selling 191,249 shares during the period. Hershey Company (The) comprises approximately 1.3% of Pioneer Investment Management Inc.’s investment portfolio, making the stock its 16th largest position. Pioneer Investment Management Inc.’s holdings in Hershey Company (The) were worth $405,281,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Invictus RG bought a new stake in Hershey Company (The) during the first quarter valued at $155,000. Independent Portfolio Consultants Inc. raised its stake in Hershey Company (The) by 139.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,521 shares of the company’s stock valued at $163,000 after buying an additional 886 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in Hershey Company (The) by 43.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock valued at $168,000 after buying an additional 475 shares during the last quarter. Enterprise Financial Services Corp raised its stake in Hershey Company (The) by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 1,681 shares of the company’s stock valued at $184,000 after buying an additional 14 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its stake in Hershey Company (The) by 9.5% in the first quarter. Johnson Financial Group Inc. now owns 1,733 shares of the company’s stock valued at $189,000 after buying an additional 150 shares during the last quarter. Institutional investors own 51.16% of the company’s stock.

Hershey Company (HSY) opened at 105.65 on Tuesday. The company has a market cap of $22.44 billion, a P/E ratio of 33.75 and a beta of 0.38. Hershey Company has a 52-week low of $94.03 and a 52-week high of $116.49. The stock’s 50 day moving average price is $107.82 and its 200-day moving average price is $108.63.

Hershey Company (The) (NYSE:HSY) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Hershey Company (The)’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Hershey Company will post $4.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.656 per share. This is an increase from Hershey Company (The)’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, August 23rd. This represents a $2.62 annualized dividend and a yield of 2.48%. Hershey Company (The)’s dividend payout ratio is 78.66%.

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Several analysts recently weighed in on the company. J P Morgan Chase & Co restated a “neutral” rating and set a $116.00 price target (down previously from $119.00) on shares of Hershey Company (The) in a report on Wednesday, June 28th. Credit Suisse Group restated a “buy” rating and set a $121.00 price target on shares of Hershey Company (The) in a report on Friday, July 28th. Royal Bank Of Canada restated a “sector perform” rating and set a $115.00 price target (up previously from $114.00) on shares of Hershey Company (The) in a report on Thursday, July 27th. Susquehanna Bancshares Inc set a $118.00 price target on Hershey Company (The) and gave the company a “hold” rating in a report on Wednesday, July 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $111.00 target price (down previously from $112.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $109.14.

In other Hershey Company (The) news, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $106.99, for a total transaction of $117,689.00. Following the sale, the senior vice president now owns 28,066 shares in the company, valued at approximately $3,002,781.34. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David L. Shedlarz sold 4,500 shares of the company’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $115.45, for a total value of $519,525.00. Following the sale, the director now owns 15,342 shares in the company, valued at approximately $1,771,233.90. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,086 shares of company stock worth $11,922,182. 0.92% of the stock is owned by company insiders.

Hershey Company (The) Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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