Capital Fund Management S.A. increased its stake in shares of Hershey Co. (NYSE:HSY) by 16.1% during the second quarter, Holdings Channel reports. The institutional investor owned 10,865 shares of the company’s stock after buying an additional 1,507 shares during the period. Capital Fund Management S.A.’s holdings in Hershey were worth $1,233,000 as of its most recent filing with the SEC.
Several other large investors also recently made changes to their positions in HSY. Orrstown Financial Services Inc. boosted its stake in shares of Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock valued at $107,000 after buying an additional 20 shares in the last quarter. Boys Arnold & Co. Inc. bought a new stake in shares of Hershey during the second quarter valued at $212,000. Trust Co. of Virginia VA bought a new stake in shares of Hershey during the second quarter valued at $212,000. Nadler Financial Group Inc. bought a new stake in shares of Hershey during the second quarter valued at $222,000. Finally, Mechanics Bank Trust Department bought a new stake in shares of Hershey during the second quarter valued at $227,000. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded up 0.11% during trading on Friday, hitting $95.21. The company had a trading volume of 1,231,371 shares. The stock’s 50-day moving average price is $99.65 and its 200 day moving average price is $99.07. The company has a market capitalization of $20.30 billion, a P/E ratio of 27.88 and a beta of 0.23. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the company earned $0.78 EPS. On average, equities research analysts forecast 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. Investors of record on Thursday, August 25th were paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 2.60%. The ex-dividend date of this dividend was Tuesday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.58. Hershey’s dividend payout ratio (DPR) is 72.22%.
HSY has been the topic of several analyst reports. Vetr upgraded Hershey from a “hold” rating to a “buy” rating and set a $114.32 price target on the stock in a research report on Wednesday, July 13th. Citigroup Inc. reiterated a “buy” rating and set a $102.00 price target on shares of Hershey in a research report on Wednesday, June 15th. S&P Equity Research raised Hershey from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $94.00 to $126.00 in a report on Tuesday, July 5th. Credit Suisse Group AG reissued a “hold” rating and set a $110.00 price objective on shares of Hershey in a report on Thursday, July 21st. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $97.14 to $111.95 in a report on Tuesday, July 5th. They noted that the move was a valuation call. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $100.50.
In related news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $108.43, for a total transaction of $119,273.00. Following the sale, the senior vice president now owns 27,288 shares of the company’s stock, valued at approximately $2,958,837.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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.
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