Commonwealth Equity Services LLC Sells 2,994 Shares of Hershey Co (NYSE:HSY)

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Commonwealth Equity Services LLC lessened its stake in shares of Hershey Co (NYSE:HSY) by 4.9% during the 1st quarter, HoldingsChannel reports. The fund owned 58,522 shares of the company’s stock after selling 2,994 shares during the period. Commonwealth Equity Services LLC’s holdings in Hershey were worth $6,720,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Raymond James & Associates lifted its holdings in shares of Hershey by 26.1% during the 4th quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock valued at $6,069,000 after purchasing an additional 11,702 shares during the last quarter. Gotham Asset Management LLC lifted its holdings in shares of Hershey by 453.3% during the 4th quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock valued at $9,944,000 after purchasing an additional 76,011 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of Hershey by 126.1% during the 4th quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock valued at $91,000 after purchasing an additional 473 shares during the last quarter. Keybank National Association OH lifted its holdings in shares of Hershey by 9.9% during the 1st quarter. Keybank National Association OH now owns 21,577 shares of the company’s stock valued at $2,478,000 after purchasing an additional 1,952 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Hershey by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock valued at $16,729,000 after purchasing an additional 8,098 shares during the last quarter. 53.60% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently commented on HSY. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, May 16th. Credit Suisse Group set a $123.00 price objective on Hershey and gave the company a “hold” rating in a report on Friday, April 26th. Evercore ISI began coverage on Hershey in a report on Tuesday. They set an “in-line” rating and a $145.00 price objective for the company. UBS Group set a $100.00 price objective on Hershey and gave the company a “sell” rating in a report on Friday, April 26th. Finally, Barclays increased their price objective on Hershey from $103.00 to $120.00 and gave the company an “equal weight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company. Hershey presently has a consensus rating of “Hold” and a consensus target price of $116.50.

In other Hershey news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $109.52, for a total transaction of $164,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kevin R. Walling sold 36,132 shares of Hershey stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $135.17, for a total value of $4,883,962.44. Following the transaction, the senior vice president now owns 62,997 shares of the company’s stock, valued at approximately $8,515,304.49. The disclosure for this sale can be found here. In the last 90 days, insiders purchased 3,100 shares of company stock valued at $401,990 and sold 3,628,751 shares valued at $457,274,702. Company insiders own 0.41% of the company’s stock.

Shares of HSY stock opened at $138.22 on Thursday. The firm has a market capitalization of $28.57 billion, a P/E ratio of 25.79, a PEG ratio of 3.00 and a beta of 0.11. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27. Hershey Co has a 1 year low of $89.84 and a 1 year high of $139.34.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, April 25th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.48 by $0.11. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the business posted $1.41 EPS. Analysts forecast that Hershey Co will post 5.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be paid a $0.722 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 dividend on an annualized basis and a yield of 2.09%. Hershey’s dividend payout ratio (DPR) is 53.92%.

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Hershey Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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