Stone Ridge Asset Management LLC Has $2.40 Million Stake in Hershey Co (NYSE:HSY)

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Stone Ridge Asset Management LLC raised its stake in Hershey Co (NYSE:HSY) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,874 shares of the company’s stock after buying an additional 800 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Hershey were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Hershey by 2.8% during the first quarter. BlackRock Inc. now owns 14,146,007 shares of the company’s stock worth $1,624,385,000 after purchasing an additional 381,334 shares during the period. Janus Henderson Group PLC raised its position in shares of Hershey by 6.7% during the second quarter. Janus Henderson Group PLC now owns 2,373,660 shares of the company’s stock worth $318,137,000 after purchasing an additional 149,260 shares during the period. Geode Capital Management LLC grew its holdings in shares of Hershey by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock worth $234,317,000 after buying an additional 249,155 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Hershey by 3.3% during the first quarter. Northern Trust Corp now owns 1,933,792 shares of the company’s stock worth $222,058,000 after buying an additional 61,759 shares in the last quarter. Finally, Swiss National Bank grew its holdings in shares of Hershey by 12.6% during the second quarter. Swiss National Bank now owns 963,226 shares of the company’s stock worth $129,101,000 after buying an additional 108,000 shares in the last quarter. 52.96% of the stock is currently owned by hedge funds and other institutional investors.

HSY stock traded down $1.35 during mid-day trading on Friday, reaching $157.03. The company had a trading volume of 624,151 shares, compared to its average volume of 1,098,248. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48. The stock has a 50 day simple moving average of $148.92 and a two-hundred day simple moving average of $128.17. The company has a market capitalization of $33.19 billion, a price-to-earnings ratio of 29.30, a PEG ratio of 3.45 and a beta of 0.09. Hershey Co has a 52 week low of $98.50 and a 52 week high of $159.26.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.13. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business’s revenue was up .9% compared to the same quarter last year. During the same period last year, the company earned $1.14 earnings per share. On average, equities analysts predict that Hershey Co will post 5.74 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be paid a $0.773 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 1.97%. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, August 22nd. Hershey’s dividend payout ratio (DPR) is currently 57.65%.

In other news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.56, for a total transaction of $233,340.00. Following the completion of the transaction, the insider now directly owns 156,929 shares in the company, valued at approximately $24,411,875.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kevin R. Walling sold 36,132 shares of Hershey stock in a transaction that occurred on Wednesday, June 5th. The stock was 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 $8,515,304.49. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,100 shares of company stock valued at $401,990 and sold 132,076 shares valued at $18,288,174. 0.41% of the stock is owned by company insiders.

HSY has been the subject of a number of research reports. UBS Group upgraded Hershey from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $100.00 to $145.00 in a report on Monday, July 22nd. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $86.00 to $142.00 in a report on Wednesday, July 17th. Credit Suisse Group increased their price objective on Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Wells Fargo & Co increased their price objective on Hershey from $112.00 to $130.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Finally, Piper Jaffray Companies downgraded Hershey from a “neutral” rating to an “underweight” rating and increased their price objective for the stock from $122.00 to $125.00 in a report on Wednesday, June 19th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $138.71.

Hershey Company 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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