Hershey Co (HSY) Stake Lessened by Doliver Capital Advisors LP

Doliver Capital Advisors LP trimmed its holdings in Hershey Co (NYSE:HSY) by 24.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,436 shares of the company’s stock after selling 770 shares during the quarter. Doliver Capital Advisors LP’s holdings in Hershey were worth $248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. FTB Advisors Inc. lifted its stake in shares of Hershey by 108.4% in the 2nd quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock valued at $107,000 after purchasing an additional 607 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Hershey in the 2nd quarter valued at about $121,000. Fort L.P. acquired a new position in shares of Hershey in the 2nd quarter valued at about $123,000. grace capital acquired a new position in Hershey during the 2nd quarter worth approximately $130,000. Finally, Flagship Harbor Advisors LLC acquired a new position in Hershey during the 2nd quarter worth approximately $130,000. 52.73% of the stock is currently owned by institutional investors.

In other news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, October 22nd. The shares were sold at an average price of $106.61, for a total transaction of $159,915.00. Following the completion of the transaction, the insider now directly owns 170,894 shares in the company, valued at $18,219,009.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of Hershey stock in a transaction that occurred on Monday, October 29th. The shares were sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the transaction, the insider now owns 102,330 shares of the company’s stock, valued at $10,846,980. The disclosure for this sale can be found here. Insiders have sold 121,716 shares of company stock valued at $12,690,499 over the last quarter. Company insiders own 0.87% of the company’s stock.

A number of research firms recently weighed in on HSY. Morgan Stanley upped their price target on Hershey from $93.00 to $98.00 and gave the stock an “underweight” rating in a research note on Friday, July 27th. Susquehanna Bancshares raised their price objective on Hershey from $109.00 to $114.00 and gave the company a “neutral” rating in a research note on Tuesday, October 23rd. Piper Jaffray Companies raised their price objective on Hershey from $97.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Credit Suisse Group set a $85.00 price objective on Hershey and gave the company a “sell” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $117.00 price objective on the stock in a research note on Monday, October 8th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $103.81.

Shares of HSY opened at $106.97 on Tuesday. Hershey Co has a one year low of $89.10 and a one year high of $115.82. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of 20.63, a P/E/G ratio of 2.32 and a beta of 0.17. The company has a quick ratio of 0.69, a current ratio of 1.01 and a debt-to-equity ratio of 2.60.

Hershey (NYSE:HSY) last released its earnings results on Thursday, October 25th. The company reported $1.55 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.55. Hershey had a net margin of 13.20% and a return on equity of 102.30%. The firm had revenue of $2.08 billion during the quarter, compared to analyst estimates of $2.08 billion. Sell-side analysts predict that Hershey Co will post 5.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Wednesday, November 21st will be issued a dividend of $0.722 per share. The ex-dividend date is Tuesday, November 20th. This represents a $2.89 annualized dividend and a dividend yield of 2.70%. Hershey’s payout ratio is 60.71%.

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About Hershey

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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