Summit Financial Group Inc. purchased a new position in shares of Hershey Company (The) (NYSE:HSY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,400 shares of the company’s stock, valued at approximately $902,000.

Several other hedge funds have also recently made changes to their positions in the stock. Kanawha Capital Management LLC increased its stake in shares of Hershey Company (The) by 0.3% in the first quarter. Kanawha Capital Management LLC now owns 3,451 shares of the company’s stock worth $377,000 after buying an additional 12 shares in the last quarter. Enterprise Financial Services Corp increased its stake in shares of 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 period. RB Capital Management LLC increased its stake in shares of Hershey Company (The) by 0.5% in the second quarter. RB Capital Management LLC now owns 3,331 shares of the company’s stock valued at $358,000 after buying an additional 18 shares during the period. Profund Advisors LLC increased its stake in shares of Hershey Company (The) by 0.7% in the first quarter. Profund Advisors LLC now owns 3,397 shares of the company’s stock valued at $371,000 after buying an additional 23 shares during the period. Finally, Gateway Investment Advisers LLC increased its stake in shares of Hershey Company (The) by 0.3% in the second quarter. Gateway Investment Advisers LLC now owns 8,446 shares of the company’s stock valued at $907,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 51.16% of the company’s stock.

Shares of Hershey Company (NYSE:HSY) opened at 105.10 on Wednesday. The stock has a 50 day moving average of $107.04 and a 200-day moving average of $108.56. Hershey Company has a 12-month low of $94.03 and a 12-month high of $116.49. The firm has a market capitalization of $22.33 billion, a P/E ratio of 33.58 and a beta of 0.38.

Hershey Company (The) (NYSE:HSY) last issued its earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $1.65 billion. During the same period in the prior year, the firm earned $0.85 earnings per share. Hershey Company (The)’s revenue for the quarter was up 1.5% on a year-over-year basis. On average, equities research analysts predict that Hershey Company will post $4.82 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be given a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.50%. This is a positive change from Hershey Company (The)’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, August 23rd. Hershey Company (The)’s dividend payout ratio is presently 78.66%.

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Several brokerages have commented on HSY. Susquehanna Bancshares Inc set a $115.00 target price on shares of Hershey Company (The) and gave the stock a “hold” rating in a report on Saturday, June 17th. Credit Suisse Group restated a “buy” rating and set a $121.00 target price on shares of Hershey Company (The) in a report on Friday, July 28th. Zacks Investment Research upgraded shares of Hershey Company (The) from a “hold” rating to a “buy” rating and set a $121.00 target price on the stock in a report on Wednesday, June 28th. BidaskClub downgraded shares of Hershey Company (The) from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $114.00 target price on shares of Hershey Company (The) in a report on Friday, July 21st. Five equities research 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’s stock. Hershey Company (The) has a consensus rating of “Hold” and a consensus target price of $109.14.

In other news, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $105.45, for a total transaction of $115,995.00. Following the transaction, the senior vice president now directly owns 27,866 shares of the company’s stock, valued at $2,938,469.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Terence L. O’day sold 37,875 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $113.88, for a total value of $4,313,205.00. Following the transaction, the senior vice president now directly owns 75,303 shares in the company, valued at $8,575,505.64. The disclosure for this sale can be found here. Insiders have sold 105,086 shares of company stock worth $11,922,182 over the last ninety days. 0.92% of the stock is owned by insiders.

About Hershey Company (The)

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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