Caz Investments LP continued to hold its stake in Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The firm owned 16,220 shares of the company’s stock at the end of the second quarter. Hershey accounts for about 2.0% of Caz Investments LP’s investment portfolio, making the stock its 5th largest position. Caz Investments LP’s holdings in Hershey were worth $1,841,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in HSY. Geode Capital Management LLC raised its stake in Hershey by 6.7% in the first quarter. Geode Capital Management LLC now owns 1,272,000 shares of the company’s stock worth $116,920,000 after buying an additional 79,733 shares during the last quarter. Bartlett & Co. LLC raised its stake in Hershey by 2.3% in the second quarter. Bartlett & Co. LLC now owns 169,026 shares of the company’s stock worth $19,183,000 after buying an additional 3,871 shares during the last quarter. Wellington Management Group LLP raised its stake in Hershey by 570.2% in the first quarter. Wellington Management Group LLP now owns 1,060,734 shares of the company’s stock worth $97,684,000 after buying an additional 902,454 shares during the last quarter. National Pension Service raised its stake in Hershey by 4.4% in the first quarter. National Pension Service now owns 93,178 shares of the company’s stock worth $8,581,000 after buying an additional 3,960 shares during the last quarter. Finally, Seven Eight Capital LLC acquired a new stake in Hershey during the first quarter worth about $405,000. 53.11% of the stock is owned by institutional investors and hedge funds.
Hershey Co. (NYSE:HSY) traded down 0.20% during mid-day trading on Monday, hitting $95.41. 910,737 shares of the company were exchanged. Hershey Co. has a 12 month low of $82.42 and a 12 month high of $117.79. The stock has a market cap of $20.34 billion, a price-to-earnings ratio of 27.94 and a beta of 0.23. The firm has a 50 day moving average price of $102.10 and a 200 day moving average price of $98.95.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.07. The firm earned $1.64 billion during 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 firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.78 EPS. Analysts anticipate that Hershey Co. will post $4.26 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were given a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a yield of 2.59%. 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 dividend payout ratio (DPR) is currently 72.22%.
HSY has been the subject of a number of research reports. Vetr raised shares of Hershey from a “hold” rating to a “buy” rating and set a $115.74 target price for the company in a report on Wednesday, August 24th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $112.00 target price on shares of Hershey in a report on Tuesday, August 30th. Bank of America Corp. initiated coverage on shares of Hershey in a report on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $100.00 price objective on shares of Hershey in a report on Tuesday, September 6th. Finally, Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $89.00 price objective on shares of Hershey in a report on Saturday, July 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $100.50.
In related news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $111.41, for a total transaction of $122,551.00. Following the completion of the sale, the senior vice president now owns 27,188 shares in the company, valued at approximately $3,029,015.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.68% of the company’s stock.
Hershey Company Profile
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.
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co. (NYSE:HSY).
Receive News & Ratings for Hershey Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey Co. and related companies with MarketBeat.com's FREE daily email newsletter.