Beese Fulmer Investment Management Inc. maintained its position in Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The firm owned 37,906 shares of the company’s stock at the end of the second quarter. Beese Fulmer Investment Management Inc.’s holdings in Hershey were worth $4,302,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in Hershey by 6.7% in the first quarter. Geode Capital Management LLC now owns 1,272,000 shares of the company’s stock worth $116,920,000 after buying an additional 79,733 shares during the last quarter. Bartlett & Co. LLC raised its position in shares of Hershey by 2.3% in the second quarter. Bartlett & Co. LLC now owns 169,026 shares of the company’s stock valued at $19,183,000 after buying an additional 3,871 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Hershey by 570.2% in the first quarter. Wellington Management Group LLP now owns 1,060,734 shares of the company’s stock valued at $97,684,000 after buying an additional 902,454 shares in the last quarter. National Pension Service raised its position in shares of Hershey by 4.4% in the first quarter. National Pension Service now owns 93,178 shares of the company’s stock valued at $8,581,000 after buying an additional 3,960 shares in the last quarter. Finally, Seven Eight Capital LLC purchased a new position in shares of Hershey during the first quarter valued at about $405,000. 53.01% of the stock is owned by institutional investors and hedge funds.
Hershey Co. (NYSE:HSY) traded down 0.88% during trading on Wednesday, hitting $95.46. The stock had a trading volume of 340,515 shares. The firm has a market cap of $20.35 billion, a PE ratio of 27.95 and a beta of 0.23. The company’s 50 day moving average is $96.37 and its 200 day moving average is $99.35. Hershey Co. has a 52-week low of $82.42 and a 52-week high of $117.79.
Hershey (NYSE:HSY) last announced its quarterly 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. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The company had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. Equities research analysts forecast that Hershey Co. will post $4.26 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be issued a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend is Monday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 72.22%.
Several research analysts have recently issued reports on HSY shares. Vetr raised Hershey from a “hold” rating to a “buy” rating and set a $114.32 target price for the company in a research report on Tuesday, July 19th. S&P Equity Research raised Hershey from a “hold” rating to a “buy” rating and increased their target price for the stock from $94.00 to $126.00 in a research report on Tuesday, July 5th. Deutsche Bank AG decreased their target price on Hershey from $105.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, July 26th. Credit Suisse Group AG reissued a “hold” rating and issued a $110.00 target price on shares of Hershey in a research report on Thursday, July 21st. Finally, Argus lowered Hershey from a “buy” rating to a “hold” rating and increased their target price 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. Four 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 given a strong buy rating to the company. The stock has a consensus 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, October 17th. The shares were sold at an average price of $96.40, for a total value of $106,040.00. Following the sale, the senior vice president now owns 26,988 shares of the company’s stock, valued at $2,601,643.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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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