TD Asset Management Inc. Purchases 29,032 Shares of Hershey Co (NYSE:HSY)
TD Asset Management Inc. boosted its stake in shares of Hershey Co (NYSE:HSY) by 15.1% during the second quarter, Holdings Channel reports. The firm owned 220,865 shares of the company’s stock after buying an additional 29,032 shares during the period. TD Asset Management Inc.’s holdings in Hershey were worth $23,714,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in HSY. Invictus RG purchased a new position in shares of Hershey during the first quarter valued at approximately $155,000. Independent Portfolio Consultants Inc. raised its position in shares of Hershey 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 period. YorkBridge Wealth Partners LLC raised its position in shares of Hershey 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 period. Enterprise Financial Services Corp raised its position in shares of Hershey 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. Finally, Johnson Financial Group Inc. raised its position in shares of Hershey 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 period. Hedge funds and other institutional investors own 51.16% of the company’s stock.
Shares of Hershey Co (NYSE:HSY) opened at 105.20 on Friday. The firm has a 50-day moving average price of $106.14 and a 200 day moving average price of $108.56. Hershey Co has a 12-month low of $94.03 and a 12-month high of $116.49. The stock 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 earnings results on Wednesday, July 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The firm had revenue of $1.66 billion for the quarter, compared to analysts’ expectations of $1.65 billion. Hershey had a return on equity of 96.86% and a net margin of 12.19%. The company’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.85 earnings per share. Equities research analysts expect that Hershey Co will post $4.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.656 per share. 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 dividend payout ratio is currently 78.66%.
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HSY has been the topic of several recent research reports. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $121.00 price objective on the stock in a research report on Wednesday, June 28th. Credit Suisse Group reiterated a “buy” rating and set a $121.00 price objective on shares of Hershey in a research report on Friday, July 28th. Morgan Stanley reduced their price objective on Hershey from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Susquehanna Bancshares Inc set a $118.00 price objective on Hershey and gave the company a “hold” rating in a research report on Wednesday, July 26th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $114.00 target price on shares of Hershey in a report on Friday, July 21st. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Hershey has an average rating of “Hold” and a consensus target price of $109.14.
In other news, SVP D Michael Wege sold 14,440 shares of the company’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $115.55, for a total transaction of $1,668,542.00. Following the transaction, the senior vice president now owns 42,506 shares of the company’s stock, valued at $4,911,568.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $108.00, for a total value of $43,200.00. Following the transaction, the insider now directly owns 166,097 shares in the company, valued at approximately $17,938,476. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,408 shares of company stock worth $11,100,636. 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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