Courier Capital LLC reduced its position in The Hershey Company (NYSE:HSY) by 11.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,001 shares of the company’s stock after selling 385 shares during the quarter. Courier Capital LLC’s holdings in The Hershey were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Stratos Wealth Partners LTD. grew its stake in shares of The Hershey by 2.2% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,575 shares of the company’s stock valued at $464,000 after buying an additional 77 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of The Hershey by 5.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,490 shares of the company’s stock valued at $213,000 after acquiring an additional 77 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of The Hershey by 0.7% in the third quarter. CENTRAL TRUST Co now owns 12,720 shares of the company’s stock valued at $1,823,000 after acquiring an additional 84 shares in the last quarter. IFP Advisors Inc lifted its position in shares of The Hershey by 29.1% in the second quarter. IFP Advisors Inc now owns 377 shares of the company’s stock valued at $48,000 after acquiring an additional 85 shares in the last quarter. Finally, Keebeck Alpha LP lifted its position in shares of The Hershey by 4.8% in the third quarter. Keebeck Alpha LP now owns 2,017 shares of the company’s stock valued at $289,000 after acquiring an additional 93 shares in the last quarter. 52.37% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Michele Buck sold 2,500 shares of the stock in a transaction that occurred on Wednesday, October 28th. The stock was sold at an average price of $140.62, for a total value of $351,550.00. Following the transaction, the chief executive officer now owns 162,621 shares of the company’s stock, valued at $22,867,765.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Pamela M. Arway sold 256 shares of the stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $142.02, for a total value of $36,357.12. Following the completion of the transaction, the director now directly owns 16,002 shares in the company, valued at approximately $2,272,604.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,256 shares of company stock worth $738,682. Insiders own 29.39% of the company’s stock.
HSY has been the topic of a number of research analyst reports. Stifel Nicolaus boosted their target price on The Hershey from $135.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell initiated coverage on The Hershey in a research report on Monday, October 19th. They issued a “buy” rating and a $172.00 target price on the stock. Wells Fargo & Company decreased their target price on The Hershey from $155.00 to $149.00 and set an “equal weight” rating on the stock in a research report on Monday, November 9th. Barclays reiterated a “hold” rating on shares of The Hershey in a research report on Sunday, November 8th. Finally, Zacks Investment Research downgraded The Hershey from a “buy” rating to a “hold” rating and set a $148.00 price objective on the stock. in a research report on Friday, September 18th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the stock. The Hershey presently has a consensus rating of “Hold” and an average price target of $149.13.
HSY opened at $153.88 on Tuesday. The stock has a market cap of $32.29 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 2.80 and a beta of 0.26. The stock’s 50 day moving average price is $145.68 and its 200-day moving average price is $139.62. The Hershey Company has a one year low of $109.88 and a one year high of $161.83. The company has a debt-to-equity ratio of 2.33, a quick ratio of 0.86 and a current ratio of 1.31.
The Hershey (NYSE:HSY) last released its earnings results on Wednesday, November 11th. The company reported $1.86 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.14. The firm had revenue of $2.22 billion for the quarter, compared to analysts’ expectations of $2.16 billion. The Hershey had a return on equity of 70.65% and a net margin of 13.50%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share. As a group, analysts predict that The Hershey Company will post 6.04 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Friday, November 20th will be paid a dividend of $0.804 per share. The ex-dividend date of this dividend is Thursday, November 19th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.09%. The Hershey’s dividend payout ratio is 55.71%.
About The 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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