Bank of America Corp DE raised its position in Hershey Co (NYSE:HSY) by 0.9% during the second quarter, HoldingsChannel.com reports. The fund owned 1,166,949 shares of the company’s stock after acquiring an additional 10,670 shares during the period. Bank of America Corp DE’s holdings in Hershey were worth $108,596,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc raised its stake in shares of Hershey by 2.9% in the second quarter. CIBC Asset Management Inc now owns 18,971 shares of the company’s stock worth $1,765,000 after buying an additional 541 shares during the period. Domani Wealth LLC raised its stake in shares of Hershey by 9.0% in the second quarter. Domani Wealth LLC now owns 6,652 shares of the company’s stock worth $619,000 after buying an additional 551 shares during the period. CENTRAL TRUST Co raised its stake in shares of Hershey by 4.6% in the second quarter. CENTRAL TRUST Co now owns 13,461 shares of the company’s stock worth $1,253,000 after buying an additional 598 shares during the period. FTB Advisors Inc. raised its stake in shares of Hershey by 108.4% in the second quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock worth $107,000 after buying an additional 607 shares during the period. Finally, HL Financial Services LLC raised its stake in shares of Hershey by 2.4% in the second quarter. HL Financial Services LLC now owns 27,736 shares of the company’s stock worth $2,581,000 after buying an additional 652 shares during the period. 52.70% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the company. Deutsche Bank set a $110.00 price objective on Hershey and gave the stock a “hold” rating in a research note on Friday. Credit Suisse Group set a $85.00 price objective on Hershey and gave the stock a “sell” rating in a research note on Thursday. Piper Jaffray Companies set a $100.00 price objective on Hershey and gave the stock a “hold” rating in a research note on Wednesday, August 29th. ValuEngine raised Hershey from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley increased their target price on Hershey from $93.00 to $98.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Five equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the company. Hershey has an average rating of “Hold” and an average price target of $102.78.
NYSE HSY opened at $105.97 on Monday. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 21.59, a PEG ratio of 2.26 and a beta of 0.32. The company has a debt-to-equity ratio of 3.05, a current ratio of 0.94 and a quick ratio of 0.58. Hershey Co has a 1-year low of $89.10 and a 1-year high of $115.82.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. The business had revenue of $1.75 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. research analysts forecast that Hershey Co will post 5.36 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Friday, August 24th were issued a $0.722 dividend. This is a boost from Hershey’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Thursday, August 23rd. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.73%. Hershey’s payout ratio is 60.71%.
In other news, SVP Kevin R. Walling sold 30,835 shares of Hershey stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $101.18, for a total value of $3,119,885.30. Following the completion of the transaction, the senior vice president now owns 57,611 shares in the company, valued at approximately $5,829,080.98. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $92.26, for a total value of $138,390.00. Following the completion of the transaction, the insider now owns 175,394 shares of the company’s stock, valued at approximately $16,181,850.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,835 shares of company stock valued at $3,411,125. Company insiders own 0.92% 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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