Tarbox Group Inc. maintained its position in Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,255 shares of the company’s stock at the end of the second quarter. Tarbox Group Inc.’s holdings in Hershey were worth $256,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of HSY. Quadrature Capital Ltd purchased a new position in Hershey during the first quarter worth approximately $8,687,000. UBS Asset Management Americas Inc. increased its position in Hershey by 5.0% in the first quarter. UBS Asset Management Americas Inc. now owns 493,254 shares of the company’s stock worth $45,425,000 after buying an additional 23,368 shares during the period. Scotia Capital Inc. purchased a new position in Hershey during the first quarter worth approximately $1,971,000. State Street Corp increased 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 worth $583,282,000 after buying an additional 75,976 shares during the period. Finally, Donaldson Capital Management LLC purchased a new position in Hershey during the first quarter worth approximately $17,848,000. Institutional investors and hedge funds own 53.01% of the company’s stock.
Hershey Co. (NYSE:HSY) traded up 0.30% on Monday, reaching $96.72. 537,361 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 price is $97.22 and its 200 day moving average price is $99.20. The firm has a market capitalization of $20.62 billion, a PE ratio of 28.32 and a beta of 0.23.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.07. The business had revenue of $1.64 billion for 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%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 earnings per share. On average, analysts predict that Hershey Co. will post $4.26 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 2.56%. Hershey’s dividend payout ratio is 72.22%.
A number of research firms recently commented on HSY. S&P Equity Research upgraded Hershey from a “hold” rating to a “buy” rating and lifted their price target for the stock from $94.00 to $126.00 in a research note on Tuesday, July 5th. Argus downgraded Hershey from a “buy” rating to a “hold” rating and lifted their price target for the stock from $97.14 to $111.95 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Hershey in a research note on Saturday, July 2nd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $89.00 target price on shares of Hershey in a report on Saturday, July 2nd. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $112.00 target price on shares of Hershey in a report on Tuesday, August 30th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $100.50.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $111.41, for a total transaction of $122,551.00. Following the sale, the senior vice president now directly owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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.
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.