Legal & General Group Plc increased its position in Hershey Co (NYSE:HSY) by 4.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,761 shares of the company’s stock after purchasing an additional 49,563 shares during the period. Legal & General Group Plc owned approximately 0.60% of Hershey worth $165,613,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. CBIZ Investment Advisory Services LLC bought a new position in Hershey in the 4th quarter worth about $28,000. CLS Investments LLC bought a new position in Hershey in the 4th quarter worth about $29,000. Cox Capital Mgt LLC bought a new position in Hershey in the 1st quarter worth about $29,000. Ballast Advisors LLC bought a new position in Hershey in the 1st quarter worth about $27,000. Finally, Truvestments Capital LLC bought a new position in Hershey in the 1st quarter worth about $26,000. Institutional investors own 52.54% of the company’s stock.
In related news, Director Pamela M. Arway sold 347 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $142.37, for a total value of $49,402.39. Following the completion of the sale, the director now directly owns 15,945 shares of the company’s stock, valued at approximately $2,270,089.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 13th. The stock was sold at an average price of $143.20, for a total value of $214,800.00. Following the completion of the transaction, the chief executive officer now owns 170,121 shares of the company’s stock, valued at $24,361,327.20. The disclosure for this sale can be found here. Corporate insiders own 29.39% of the company’s stock.
Shares of NYSE HSY traded down $4.44 during midday trading on Thursday, hitting $130.88. 23,971 shares of the company’s stock traded hands, compared to its average volume of 1,276,378. Hershey Co has a 1 year low of $109.88 and a 1 year high of $162.20. The stock has a market capitalization of $28.17 billion, a price-to-earnings ratio of 24.86, a price-to-earnings-growth ratio of 3.07 and a beta of 0.17. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.70 and a current ratio of 0.99. The firm has a fifty day moving average of $133.78 and a 200 day moving average of $143.80.
Hershey (NYSE:HSY) last released its earnings results on Thursday, April 23rd. The company reported $1.63 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.71 by ($0.08). The firm had revenue of $2.04 billion during the quarter, compared to analysts’ expectations of $2.09 billion. Hershey had a return on equity of 71.52% and a net margin of 13.94%. The company’s revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company posted $1.59 earnings per share. On average, equities analysts anticipate that Hershey Co will post 5.75 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 22nd will be issued a $0.773 dividend. This represents a $3.09 annualized dividend and a yield of 2.36%. The ex-dividend date of this dividend is Thursday, May 21st. Hershey’s dividend payout ratio is 53.46%.
A number of brokerages recently issued reports on HSY. JPMorgan Chase & Co. dropped their price target on shares of Hershey from $152.00 to $138.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 18th. Bank of America reissued a “neutral” rating and issued a $140.00 target price (down previously from $143.00) on shares of Hershey in a research report on Friday, April 24th. Jefferies Financial Group reissued a “hold” rating and issued a $136.00 target price on shares of Hershey in a research report on Wednesday, April 22nd. Edward Jones raised Hershey from a “hold” rating to a “buy” rating in a research report on Tuesday, March 24th. Finally, Barclays reissued a “hold” rating on shares of Hershey in a research report on Sunday, April 26th. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and three have issued a buy rating to the company’s stock. Hershey currently has an average rating of “Hold” and a consensus price target of $143.63.
Hershey Company Profile
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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