Hershey Co (HSY) Shares Bought by Asset Management One Co. Ltd.
Asset Management One Co. Ltd. boosted its position in shares of Hershey Co (NYSE:HSY) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,392 shares of the company’s stock after acquiring an additional 2,381 shares during the period. Asset Management One Co. Ltd. owned 0.11% of Hershey worth $25,233,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Geneva Advisors LLC increased its holdings in shares of Hershey by 0.4% during the 2nd quarter. Geneva Advisors LLC now owns 4,744 shares of the company’s stock worth $509,000 after purchasing an additional 19 shares during the period. Obermeyer Wood Investment Counsel Lllp increased its holdings in shares of Hershey by 0.3% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 6,344 shares of the company’s stock worth $681,000 after purchasing an additional 19 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Hershey by 0.5% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 8,545 shares of the company’s stock worth $918,000 after purchasing an additional 39 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Hershey by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,401 shares of the company’s stock worth $1,117,000 after purchasing an additional 42 shares during the period. Finally, Ropes Wealth Advisors LLC increased its holdings in shares of Hershey by 1.9% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 5,447 shares of the company’s stock worth $585,000 after purchasing an additional 100 shares during the period. 51.32% of the stock is owned by hedge funds and other institutional investors.
Hershey Co (HSY) traded down $0.40 during midday trading on Tuesday, reaching $112.80. 599,800 shares of the company were exchanged, compared to its average volume of 1,024,770. The company has a market capitalization of $23,847.62, a PE ratio of 23.10, a P/E/G ratio of 3.08 and a beta of 0.39. Hershey Co has a twelve month low of $98.85 and a twelve month high of $116.49. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.55 and a current ratio of 0.95.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.04. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Hershey had a net margin of 9.52% and a return on equity of 124.06%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.29 earnings per share. equities analysts predict that Hershey Co will post 4.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be paid a $0.656 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 dividend on an annualized basis and a yield of 2.33%. Hershey’s payout ratio is currently 77.98%.
Hershey announced that its Board of Directors has authorized a stock buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.
Several research firms have recently issued reports on HSY. Sanford C. Bernstein upgraded shares of Hershey from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $109.00 to $127.00 in a report on Thursday, August 17th. Citigroup boosted their price objective on shares of Hershey from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Susquehanna Bancshares set a $113.00 price objective on shares of Hershey and gave the stock a “hold” rating in a report on Thursday, December 7th. Zacks Investment Research downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Finally, BMO Capital Markets restated a “hold” rating and set a $105.00 price objective on shares of Hershey in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Hershey currently has an average rating of “Hold” and a consensus price target of $113.35.
In other Hershey news, VP Javier H. Idrovo sold 15,132 shares of the company’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $110.04, for a total transaction of $1,665,125.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the sale, the insider now directly owns 164,497 shares in the company, valued at $17,765,676. The disclosure for this sale can be found here. In the last three months, insiders sold 34,049 shares of company stock worth $3,715,013. 0.92% of the stock is currently owned by insiders.
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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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