Allianz Asset Management GmbH Has $14.23 Million Position in Hershey Co (HSY)
Allianz Asset Management GmbH reduced its stake in shares of Hershey Co (NYSE:HSY) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,528 shares of the company’s stock after selling 1,284 shares during the period. Allianz Asset Management GmbH owned 0.07% of Hershey worth $14,232,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Bank of America Corp DE raised its position in Hershey by 0.9% during the 2nd quarter. Bank of America Corp DE now owns 1,166,949 shares of the company’s stock worth $108,596,000 after purchasing an additional 10,670 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of Hershey by 6.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 33,282 shares of the company’s stock worth $3,395,000 after acquiring an additional 1,922 shares in the last quarter. Benedict Financial Advisors Inc. raised its position in shares of Hershey by 8.1% in the 3rd quarter. Benedict Financial Advisors Inc. now owns 24,563 shares of the company’s stock worth $2,505,000 after acquiring an additional 1,837 shares in the last quarter. Sand Hill Global Advisors LLC raised its position in shares of Hershey by 959.7% in the 2nd quarter. Sand Hill Global Advisors LLC now owns 34,366 shares of the company’s stock worth $3,198,000 after acquiring an additional 31,123 shares in the last quarter. Finally, SevenBridge Financial Group LLC raised its position in shares of Hershey by 4.9% in the 2nd quarter. SevenBridge Financial Group LLC now owns 33,364 shares of the company’s stock worth $3,105,000 after acquiring an additional 1,564 shares in the last quarter. 52.18% of the stock is owned by institutional investors and hedge funds.
HSY has been the subject of several research analyst reports. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $116.00 price objective for the company in a research report on Monday, September 24th. Credit Suisse Group raised Hershey from an “underperform” rating to a “neutral” rating and set a $104.00 price objective for the company in a research report on Tuesday, October 30th. Piper Jaffray Companies set a $105.00 price objective on Hershey and gave the stock a “hold” rating in a research report on Friday, October 26th. Deutsche Bank set a $110.00 price objective on Hershey and gave the stock a “hold” rating in a research report on Friday, September 14th. Finally, Susquehanna Bancshares lifted their price objective on Hershey from $109.00 to $114.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 23rd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $103.81.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 25th. The company reported $1.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.55. The company had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.08 billion. Hershey had a return on equity of 102.30% and a net margin of 13.20%. On average, sell-side analysts forecast that Hershey Co will post 5.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Wednesday, November 21st will be paid a $0.722 dividend. The ex-dividend date is Tuesday, November 20th. This represents a $2.89 annualized dividend and a dividend yield of 2.70%. Hershey’s dividend payout ratio is presently 60.71%.
In other news, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $102.82, for a total value of $154,230.00. Following the completion of the sale, the insider now directly owns 172,394 shares in the company, valued at approximately $17,725,551.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Patricia A. Little sold 17,589 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $103.00, for a total value of $1,811,667.00. Following the completion of the sale, the chief financial officer now owns 37,086 shares of the company’s stock, valued at $3,819,858. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 90,881 shares of company stock valued at $9,579,554. 0.92% of the stock is currently owned by company insiders.
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The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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