Schroder Investment Management Group boosted its holdings in Hershey Co (NYSE:HSY) by 236.4% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 48,211 shares of the company’s stock after acquiring an additional 33,881 shares during the period. Schroder Investment Management Group’s holdings in Hershey were worth $5,198,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of HSY. WFG Advisors LP lifted its holdings in Hershey by 25.2% in the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after acquiring an additional 201 shares during the last quarter. Sun Life Financial INC lifted its holdings in Hershey by 12,637.5% in the second quarter. Sun Life Financial INC now owns 1,019 shares of the company’s stock worth $109,000 after acquiring an additional 1,011 shares during the last quarter. QCI Asset Management Inc. NY lifted its holdings in Hershey by 10.8% in the second quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock worth $110,000 after acquiring an additional 100 shares during the last quarter. Fiduciary Trust Co. bought a new position in Hershey in the second quarter worth about $125,000. Finally, Dupont Capital Management Corp bought a new position in Hershey in the second quarter worth about $174,000. 51.32% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Michele Buck sold 400 shares of the business’s stock in a transaction that occurred on Wednesday, September 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 owns 165,297 shares of the company’s stock, valued at $17,852,076. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $109.43, for a total value of $120,373.00. Following the sale, the senior vice president now directly owns 27,666 shares in the company, valued at approximately $3,027,490.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,049 shares of company stock worth $3,715,013. 0.92% of the stock is owned by corporate insiders.
A number of brokerages have issued reports on HSY. Susquehanna Bancshares set a $113.00 target price on shares of Hershey and gave the stock a “hold” rating in a report on Thursday, December 7th. Sanford C. Bernstein raised Hershey from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $109.00 to $127.00 in a report on Thursday, August 17th. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $122.00 price target on the stock in a report on Monday, October 2nd. UBS cut their price target on Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Finally, Citigroup lifted their price target on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $113.35.
Shares of Hershey Co (NYSE:HSY) traded down $0.40 during trading hours on Tuesday, reaching $112.80. The company had a trading volume of 599,800 shares, compared to its average volume of 1,024,770. Hershey Co has a 1 year low of $98.85 and a 1 year high of $116.49. The company has a market capitalization of $23,847.62, a PE ratio of 23.10, a price-to-earnings-growth ratio of 3.08 and a beta of 0.39. 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 announced its earnings results on Thursday, October 26th. The company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Hershey had a return on equity of 124.06% and a net margin of 9.52%. The firm had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the company earned $1.29 earnings per share. The firm’s quarterly revenue was up 1.5% compared to the same quarter last year. equities analysts predict that Hershey Co will post 4.8 earnings per share for the current fiscal year.
Hershey announced that its Board of Directors has approved 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 buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.656 per share. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 annualized dividend and a yield of 2.33%. Hershey’s payout ratio is 77.98%.
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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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