Glenview State Bank Trust DEPT. held its position in shares of Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The institutional investor owned 6,700 shares of the company’s stock at the end of the second quarter. Glenview State Bank Trust DEPT.’s holdings in Hershey were worth $760,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Scotia Capital Inc. acquired a new position in Hershey during the first quarter valued at $1,971,000. State Street Corp raised its position in Hershey by 1.2% in the first quarter. State Street Corp now owns 6,333,795 shares of the company’s stock valued at $583,282,000 after buying an additional 75,976 shares during the last quarter. Donaldson Capital Management LLC acquired a new position in Hershey during the first quarter valued at $17,848,000. Kings Point Capital Management raised its position in Hershey by 15.1% in the first quarter. Kings Point Capital Management now owns 22,547 shares of the company’s stock valued at $2,076,000 after buying an additional 2,963 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hershey by 0.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,905 shares of the company’s stock worth $2,569,000 after buying an additional 183 shares in the last quarter. Institutional investors own 53.11% of the company’s stock.
Hershey Co. (NYSE:HSY) traded up 0.87% on Friday, reaching $96.48. 1,250,230 shares of the company’s stock traded hands. Hershey Co. has a 52-week low of $82.42 and a 52-week high of $117.79. The firm’s 50-day moving average is $97.63 and its 200 day moving average is $99.15. The stock has a market capitalization of $20.57 billion, a PE ratio of 28.25 and a beta of 0.23.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The firm earned $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 3.7% on a year-over-year basis. Analysts forecast that Hershey Co. will post $4.26 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were issued a $0.618 dividend. The ex-dividend date of this dividend was Tuesday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.58. This represents a $2.47 dividend on an annualized basis and a yield of 2.58%. Hershey’s dividend payout ratio is 72.22%.
A number of equities analysts have commented on the stock. Deutsche Bank AG cut their price objective on shares of Hershey from $105.00 to $91.00 and set a “hold” rating on the stock in a report on Tuesday, July 26th. Zacks Investment Research lowered shares of Hershey from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Argus lowered shares of 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. RBC Capital Markets reiterated a “sector perform” rating and issued a $105.00 price objective (up previously from $92.00) on shares of Hershey in a report on Wednesday, July 27th. Finally, Vetr lowered shares of Hershey from a “strong-buy” rating to a “buy” rating and set a $108.33 price objective on the stock. in a report on Tuesday, September 6th. Three 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 stock. The stock presently has an average rating of “Hold” and a consensus price target of $100.50.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the stock in a transaction on Monday, August 15th. The shares were 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.68% of the stock is currently owned by company insiders.
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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