SVA Wealth Management LLC Buys Shares of 1,500 Hershey Co (NYSE:HSY)
SVA Wealth Management LLC acquired a new position in shares of Hershey Co (NYSE:HSY) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,500 shares of the company’s stock, valued at approximately $201,000.
Other institutional investors also recently made changes to their positions in the company. APG Asset Management N.V. lifted its stake in Hershey by 145.7% during the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock worth $319,972,000 after purchasing an additional 1,612,100 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Hershey by 60.0% during the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock worth $568,363,000 after purchasing an additional 1,589,800 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Hershey by 365.2% during the first quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock worth $109,523,000 after purchasing an additional 748,757 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in Hershey by 236.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock worth $92,368,000 after purchasing an additional 484,496 shares during the last quarter. Finally, BlackRock Inc. lifted its stake in Hershey by 2.8% during the first quarter. BlackRock Inc. now owns 14,146,007 shares of the company’s stock worth $1,624,385,000 after purchasing an additional 381,334 shares during the last quarter. 53.60% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on HSY shares. Citigroup boosted their target price on Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Evercore ISI began coverage on Hershey in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $145.00 price objective for the company. Piper Jaffray Companies cut Hershey from a “neutral” rating to an “underweight” rating and boosted their price objective for the company from $122.00 to $125.00 in a research note on Wednesday, June 19th. Sanford C. Bernstein cut Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price objective for the company. in a research note on Thursday, September 12th. They noted that the move was a valuation call. Finally, BMO Capital Markets boosted their price objective on Hershey to $133.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $141.93.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, July 25th. The company reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.13. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. Hershey’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the prior year, the company earned $1.14 EPS. As a group, research analysts anticipate that Hershey Co will post 5.74 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.773 per share. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Thursday, August 22nd. This represents a $3.09 annualized dividend and a yield of 2.02%. Hershey’s dividend payout ratio is currently 57.65%.
In other Hershey news, major shareholder Hershey Trust Co sold 10,000 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $152.82, for a total transaction of $1,528,200.00. Following the transaction, the insider now owns 92,330 shares of the company’s stock, valued at approximately $14,109,870.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the transaction, the chief executive officer now directly owns 158,429 shares in the company, valued at approximately $21,953,506.53. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,600 shares of company stock worth $3,611,368. Company insiders own 0.41% of the company’s stock.
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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