Schulhoff & Co. Inc. held its position in Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The firm owned 2,531 shares of the company’s stock at the end of the second quarter. Schulhoff & Co. Inc.’s holdings in Hershey were worth $287,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Sumitomo Mitsui Asset Management Company LTD boosted its position in Hershey by 514.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 69,604 shares of the company’s stock valued at $7,899,000 after buying an additional 58,285 shares during the period. SL Advisors LLC acquired a new position in Hershey during the second quarter valued at $1,185,000. Quantitative Systematic Strategies LLC acquired a new position in Hershey during the second quarter valued at $446,000. Whittier Trust Co. of Nevada Inc. boosted its position in Hershey by 1.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,205 shares of the company’s stock valued at $364,000 after buying an additional 40 shares during the period. Finally, Savant Capital LLC acquired a new position in Hershey during the second quarter valued at $458,000. Institutional investors and hedge funds own 53.01% of the company’s stock.
Hershey Co. (NYSE:HSY) traded down 0.44% during mid-day trading on Tuesday, hitting $96.31. The stock had a trading volume of 776,468 shares. The company has a market cap of $20.53 billion, a price-to-earnings ratio of 28.20 and a beta of 0.23. Hershey Co. has a 12 month low of $82.42 and a 12 month high of $117.79. The firm’s 50-day moving average is $96.81 and its 200 day moving average is $99.34.
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. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The company had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter last year, the company earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities analysts anticipate that Hershey Co. will post $4.26 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 23rd will be issued a dividend of $0.618 per share. The ex-dividend date is Monday, November 21st. This represents a $2.47 dividend on an annualized basis and a yield of 2.57%. Hershey’s dividend payout ratio (DPR) is currently 72.22%.
Several equities research analysts have commented on the company. Zacks Investment Research cut Hershey from a “hold” rating to a “sell” rating in a research note on Monday. Vetr upgraded Hershey from a “buy” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a research note on Thursday, September 8th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $100.00 target price on shares of Hershey in a research note on Tuesday, September 6th. Credit Suisse Group AG restated a “neutral” rating and issued a $112.00 target price on shares of Hershey in a research note on Tuesday, August 30th. Finally, Bank of America Corp. assumed coverage on Hershey in a research note on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 target price on the stock. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Hershey presently has an average 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 on Monday, October 17th. The stock was sold at an average price of $96.40, for a total transaction of $106,040.00. Following the sale, the senior vice president now directly owns 26,988 shares in the company, valued at $2,601,643.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.68% of the company’s stock.
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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