Mid Atlantic Financial Management Inc. ADV lowered its position in shares of Hershey Co (NYSE:HSY) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,454 shares of the company’s stock after selling 214 shares during the quarter. Mid Atlantic Financial Management Inc. ADV’s holdings in Hershey were worth $329,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its position in Hershey by 23.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 634,859 shares of the company’s stock worth $68,042,000 after purchasing an additional 120,051 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Hershey by 12.8% in the fourth quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock valued at $234,317,000 after acquiring an additional 249,155 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in shares of Hershey in the first quarter valued at approximately $2,705,000. World Asset Management Inc lifted its position in shares of Hershey by 5.9% in the first quarter. World Asset Management Inc now owns 10,070 shares of the company’s stock valued at $1,156,000 after acquiring an additional 562 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its position in shares of Hershey by 10.0% in the first quarter. Daiwa Securities Group Inc. now owns 9,027 shares of the company’s stock valued at $1,037,000 after acquiring an additional 823 shares in the last quarter. Hedge funds and other institutional investors own 52.96% of the company’s stock.
In other news, insider Todd W. Tillemans acquired 2,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $129.92 per share, with a total value of $259,840.00. Following the completion of the purchase, the insider now owns 15,773 shares of the company’s stock, valued at approximately $2,049,228.16. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.56, for a total value of $233,340.00. Following the completion of the sale, the insider now directly owns 156,929 shares of the company’s stock, valued at $24,411,875.24. The disclosure for this sale can be found here. In the last three months, insiders have acquired 3,100 shares of company stock valued at $401,990 and have sold 132,076 shares valued at $18,288,174. 0.41% of the stock is owned by company insiders.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, July 25th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.13. The company had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.14 earnings per share. As a group, sell-side analysts anticipate that Hershey Co will post 5.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be paid a dividend of $0.773 per share. This is a boost from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, August 22nd. This represents a $3.09 annualized dividend and a yield of 1.93%. Hershey’s dividend payout ratio (DPR) is 57.65%.
HSY has been the topic of several research reports. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and raised their target price for the company from $86.00 to $142.00 in a research report on Wednesday, July 17th. Credit Suisse Group lifted their price objective on Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. UBS Group upgraded Hershey from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $100.00 to $145.00 in a research report on Monday, July 22nd. Finally, BMO Capital Markets lifted their price objective on Hershey to $133.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target 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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