First Mercantile Trust Co. lowered its position in shares of Hershey Co. (NYSE:HSY) by 21.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,120 shares of the company’s stock after selling 869 shares during the period. First Mercantile Trust Co.’s holdings in Hershey were worth $354,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA raised its position in Hershey by 2.5% in the first quarter. Glenmede Trust Co. NA now owns 113,358 shares of the company’s stock valued at $10,438,000 after buying an additional 2,791 shares in the last quarter. Aperio Group LLC raised its position in Hershey by 25.8% in the first quarter. Aperio Group LLC now owns 74,570 shares of the company’s stock valued at $6,867,000 after buying an additional 15,274 shares in the last quarter. Mn Services Vermogensbeheer B.V. bought a new position in Hershey during the first quarter valued at $302,000. Nisa Investment Advisors L.L.C. raised its position in Hershey by 24.6% in the first quarter. Nisa Investment Advisors L.L.C. now owns 59,477 shares of the company’s stock valued at $5,477,000 after buying an additional 11,750 shares in the last quarter. Finally, IFP Advisors Inc raised its position in Hershey by 9.6% in the first quarter. IFP Advisors Inc now owns 2,531 shares of the company’s stock valued at $233,000 after buying an additional 222 shares in the last quarter. Institutional investors and hedge funds own 53.11% of the company’s stock.
Hershey Co. (NYSE:HSY) opened at 95.13 on Thursday. The stock has a 50 day moving average of $103.06 and a 200-day moving average of $98.96. The firm has a market cap of $20.28 billion, a PE ratio of 27.86 and a beta of 0.20. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.07. The company earned $1.64 billion during the quarter, compared to analysts’ expectations of $1.61 billion. Hershey had a net margin of 10.14% and a return on equity of 100.78%. Hershey’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 earnings per share. Analysts expect that Hershey Co. will post $4.26 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were given a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend was Tuesday, August 23rd. This is a boost from Hershey’s previous quarterly dividend of $0.58. Hershey’s payout ratio is presently 72.22%.
Several analysts have commented on HSY shares. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $89.00 target price on shares of Hershey in a research report on Saturday, July 2nd. Zacks Investment Research raised shares of Hershey from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. Royal Bank Of Canada decreased their target price on shares of Hershey from $105.00 to $92.00 and set a “sector perform” rating for the company in a research report on Wednesday, July 27th. Bank of America Corp. started coverage on shares of Hershey in a research report on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 target price for the company. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $105.00 target price (up from $92.00) on shares of Hershey in a research report on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $108.43, for a total value of $119,273.00. Following the completion of the sale, the senior vice president now owns 27,288 shares of the company’s stock, valued at $2,958,837.84. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.68% of the stock is currently owned by 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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