Armstrong Henry H Associates Inc. held its position in Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The fund owned 2,400 shares of the company’s stock at the end of the second quarter. Armstrong Henry H Associates Inc.’s holdings in Hershey were worth $272,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. Teachers Advisors Inc. boosted its stake in shares of Hershey by 13.4% in the first quarter. Teachers Advisors Inc. now owns 149,726 shares of the company’s stock worth $13,788,000 after buying an additional 17,672 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of Hershey by 17.7% in the first quarter. TIAA CREF Investment Management LLC now owns 562,083 shares of the company’s stock worth $51,762,000 after buying an additional 84,564 shares during the last quarter. Ngam Advisors L.P. boosted its stake in shares of Hershey by 276.1% in the first quarter. Ngam Advisors L.P. now owns 100,434 shares of the company’s stock worth $9,249,000 after buying an additional 73,728 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Hershey by 3.3% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 272,284 shares of the company’s stock worth $25,075,000 after buying an additional 8,691 shares during the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of Hershey during the first quarter worth approximately $405,000. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.54% during trading on Monday, hitting $95.33. 859,279 shares of the stock were exchanged. The firm has a 50 day moving average of $104.42 and a 200-day moving average of $98.86. Hershey Co. has a 52-week low of $82.42 and a 52-week high of $117.79. The stock has a market cap of $20.32 billion, a PE ratio of 27.92 and a beta of 0.20.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.07. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The company’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 EPS. Equities research analysts anticipate that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were issued a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Hershey’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, August 23rd. Hershey’s payout ratio is presently 72.22%.
A number of analysts recently commented on the stock. Vetr upgraded shares of Hershey from a “buy” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a research note on Thursday, September 8th. JPMorgan Chase & Co. restated a “neutral” rating and set a $100.00 price target on shares of Hershey in a research note on Tuesday, September 6th. Credit Suisse Group AG restated a “neutral” rating and set a $112.00 price target on shares of Hershey in a research note on Tuesday, August 30th. Bank of America Corp. assumed coverage on shares of Hershey in a research note on Tuesday, August 30th. They set an “underperform” rating and a $100.00 price target on the stock. Finally, Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $100.50.
In other news, COO Michele Buck sold 13,500 shares of the firm’s stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $107.31, for a total value of $1,448,685.00. Following the completion of the sale, the chief operating officer now owns 168,710 shares of the company’s stock, valued at $18,104,270.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP D Michael Wege sold 1,100 shares of the firm’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $111.41, for a total value of $122,551.00. Following the completion of the sale, the senior vice president now directly owns 27,188 shares of the company’s stock, valued at approximately $3,029,015.08. The disclosure for this sale can be found here. 0.68% of the stock is owned by corporate insiders.
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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