Diligent Investors LLC lowered its position in shares of Hershey Co. (NYSE:HSY) by 1.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,670 shares of the company’s stock after selling 100 shares during the period. Diligent Investors LLC’s holdings in Hershey were worth $757,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orrstown Financial Services Inc. increased its position in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Grandfield & Dodd LLC purchased a new position in Hershey during the second quarter worth approximately $211,000. Boys Arnold & Co. Inc. purchased a new position in Hershey during the second quarter worth approximately $212,000. Trust Co. of Virginia VA purchased a new position in Hershey during the second quarter worth approximately $212,000. Finally, Nadler Financial Group Inc. purchased a new position in Hershey during the second quarter worth approximately $222,000. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.3172% during trading on Tuesday, hitting $95.1074. The stock had a trading volume of 738,467 shares. The company’s 50 day moving average price is $101.64 and its 200 day moving average price is $99.06. The stock has a market cap of $20.28 billion, a price-to-earnings ratio of 27.8499 and a beta of 0.23. Hershey Co. has a 12 month low of $82.42 and a 12 month high of $117.79.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.07. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. Equities research analysts expect that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were paid a dividend of $0.618 per share. The ex-dividend date of this dividend was Tuesday, August 23rd. This represents a $2.47 dividend on an annualized basis and a yield of 2.59%. This is a positive change from Hershey’s previous quarterly dividend of $0.58. Hershey’s payout ratio is 72.22%.
A number of research analysts have recently commented on HSY shares. S&P Equity Research upgraded Hershey from a “hold” rating to a “buy” rating and increased their target price for the company from $94.00 to $126.00 in a research report on Tuesday, July 5th. Vetr upgraded Hershey from a “hold” rating to a “buy” rating and set a $114.32 price target for the company in a research report on Wednesday, July 13th. Citigroup Inc. restated a “buy” rating and issued a $102.00 price target on shares of Hershey in a research report on Wednesday, June 15th. Zacks Investment Research upgraded Hershey from a “sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Finally, Argus downgraded Hershey from a “buy” rating to a “hold” rating and raised their price target for the stock from $97.14 to $111.95 in a research report on Tuesday, July 5th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $100.50.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $111.41, for a total transaction of $122,551.00. Following the transaction, the senior vice president now owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company 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.
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