Cadence Capital Management LLC Reduces Stake in Hershey Company (The) (HSY)

Cadence Capital Management LLC decreased its stake in shares of Hershey Company (The) (NYSE:HSY) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,549 shares of the company’s stock after selling 1,229 shares during the period. Cadence Capital Management LLC’s holdings in Hershey Company (The) were worth $1,808,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HSY. Cibc World Markets Corp increased its stake in shares of Hershey Company (The) by 7.7% in the first quarter. Cibc World Markets Corp now owns 69,578 shares of the company’s stock worth $7,601,000 after buying an additional 4,988 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Hershey Company (The) by 3.7% in the first quarter. Blair William & Co. IL now owns 22,670 shares of the company’s stock worth $2,461,000 after buying an additional 809 shares during the last quarter. Schroder Investment Management Group bought a new stake in shares of Hershey Company (The) during the first quarter worth $6,447,000. Victory Capital Management Inc. increased its stake in shares of Hershey Company (The) by 13.8% in the first quarter. Victory Capital Management Inc. now owns 12,254 shares of the company’s stock worth $1,339,000 after buying an additional 1,485 shares during the last quarter. Finally, Cipher Capital LP bought a new stake in shares of Hershey Company (The) during the first quarter worth $1,455,000. Hedge funds and other institutional investors own 51.41% of the company’s stock.

Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

Shares of Hershey Company (HSY) traded down 0.11% on Tuesday, hitting $112.18. The stock had a trading volume of 82,251 shares. The firm’s 50-day moving average price is $111.58 and its 200 day moving average price is $107.65. Hershey Company has a 52-week low of $94.03 and a 52-week high of $117.79. The firm has a market cap of $23.87 billion, a PE ratio of 39.26 and a beta of 0.41.

Hershey Company (The) (NYSE:HSY) last released its quarterly earnings data on Wednesday, April 26th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.05. Hershey Company (The) had a return on equity of 117.02% and a net margin of 8.21%. The firm had revenue of $1.88 billion during the quarter, compared to the consensus estimate of $1.89 billion. During the same period last year, the business posted $1.10 EPS. Hershey Company (The)’s quarterly revenue was up 2.8% on a year-over-year basis. On average, equities research analysts predict that Hershey Company will post $4.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, May 25th were paid a $0.618 dividend. This represents a $2.47 annualized dividend and a yield of 2.20%. The ex-dividend date was Tuesday, May 23rd. Hershey Company (The)’s payout ratio is currently 86.06%.

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A number of brokerages recently weighed in on HSY. Susquehanna Bancshares Inc reaffirmed a “neutral” rating and set a $115.00 price objective (down previously from $119.00) on shares of Hershey Company (The) in a research report on Friday, June 2nd. Royal Bank Of Canada raised their price objective on Hershey Company (The) from $112.00 to $114.00 and gave the company a “sector perform” rating in a research report on Thursday, March 2nd. Credit Suisse Group set a $121.00 price objective on Hershey Company (The) and gave the company a “buy” rating in a research report on Thursday, March 2nd. Morgan Stanley raised their price objective on Hershey Company (The) from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, February 27th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $105.00 price objective on shares of Hershey Company (The) in a research report on Sunday, March 5th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $108.02.

In related news, VP Javier H. Idrovo sold 4,496 shares of the firm’s stock in a transaction that occurred on Tuesday, April 18th. The stock was sold at an average price of $110.00, for a total value of $494,560.00. Following the completion of the transaction, the vice president now directly owns 35,506 shares of the company’s stock, valued at approximately $3,905,660. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David L. Shedlarz sold 4,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $115.45, for a total value of $519,525.00. Following the completion of the transaction, the director now directly owns 15,342 shares of the company’s stock, valued at $1,771,233.90. The disclosure for this sale can be found here. Insiders sold a total of 106,916 shares of company stock valued at $12,107,462 over the last ninety days. 0.92% of the stock is currently owned by company insiders.

Hershey Company (The) Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

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