Hershey Co (NYSE:HSY) Shares Sold by ClariVest Asset Management LLC
ClariVest Asset Management LLC decreased its stake in shares of Hershey Co (NYSE:HSY) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 261,029 shares of the company’s stock after selling 8,118 shares during the period. ClariVest Asset Management LLC’s holdings in Hershey were worth $28,028,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Hershey by 3,144.3% in the first quarter. BlackRock Inc. now owns 10,106,348 shares of the company’s stock valued at $1,104,118,000 after buying an additional 9,794,835 shares during the period. Rothschild Asset Management Inc. increased its position in shares of Hershey by 7,236.9% in the first quarter. Rothschild Asset Management Inc. now owns 500,009 shares of the company’s stock valued at $54,626,000 after buying an additional 493,194 shares during the period. HS Management Partners LLC bought a new position in shares of Hershey during the first quarter valued at about $34,345,000. Smith Asset Management Group LP bought a new position in shares of Hershey during the first quarter valued at about $33,672,000. Finally, SG Americas Securities LLC increased its position in shares of Hershey by 103.9% in the first quarter. SG Americas Securities LLC now owns 11,407 shares of the company’s stock valued at $1,246,000 after buying an additional 305,793 shares during the period. Institutional investors and hedge funds own 51.16% of the company’s stock.
Shares of Hershey Co (NYSE HSY) opened at 105.20 on Friday. The firm’s 50-day moving average is $106.14 and its 200-day moving average is $108.56. Hershey Co has a 12 month low of $94.03 and a 12 month high of $116.49. The company has a market cap of $22.35 billion, a PE ratio of 33.61 and a beta of 0.38.
Hershey (NYSE:HSY) last released its quarterly earnings data on Wednesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. Hershey had a net margin of 12.19% and a return on equity of 96.86%. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same quarter in the previous year, the company earned $0.85 earnings per share. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. On average, equities research analysts predict that Hershey Co will post $4.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be given a $0.656 dividend. This is a boost from Hershey’s previous quarterly dividend of $0.62. The ex-dividend date is Wednesday, August 23rd. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.49%. Hershey’s payout ratio is presently 78.66%.
HSY has been the subject of several research analyst reports. Deutsche Bank AG lowered their price target on shares of Hershey from $117.00 to $114.00 and set a “hold” rating for the company in a report on Friday, April 28th. Credit Suisse Group reiterated an “outperform” rating on shares of Hershey in a report on Sunday, April 23rd. J P Morgan Chase & Co reiterated a “neutral” rating and set a $116.00 price target (down from $119.00) on shares of Hershey in a report on Wednesday, June 28th. BidaskClub downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Susquehanna Bancshares Inc reiterated a “neutral” rating and set a $115.00 price target (down from $119.00) on shares of Hershey in a report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Hershey presently has a consensus rating of “Hold” and a consensus price target of $109.14.
In other Hershey news, VP Javier H. Idrovo sold 5,249 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $110.00, for a total value of $577,390.00. Following the transaction, the vice president now owns 36,259 shares in the company, valued at $3,988,490. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Terence L. O’day sold 37,875 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $113.88, for a total transaction of $4,313,205.00. Following the completion of the transaction, the senior vice president now owns 75,303 shares in the company, valued at approximately $8,575,505.64. The disclosure for this sale can be found here. Insiders sold 97,408 shares of company stock worth $11,100,636 in the last 90 days. Corporate insiders own 0.92% of the company’s stock.
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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