Taylor Hoffman Wealth Management Increases Stock Position in Hershey Co (NYSE:HSY)

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Taylor Hoffman Wealth Management increased its position in shares of Hershey Co (NYSE:HSY) by 56.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,387 shares of the company’s stock after buying an additional 500 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Hershey were worth $215,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in HSY. APG Asset Management N.V. boosted its holdings in Hershey by 145.7% during the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock worth $319,972,000 after buying an additional 1,612,100 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in Hershey by 60.0% during the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock valued at $568,363,000 after purchasing an additional 1,589,800 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Hershey by 34,749.1% during the second quarter. Nuveen Asset Management LLC now owns 1,015,850 shares of the company’s stock valued at $136,154,000 after purchasing an additional 1,012,935 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Hershey by 4.8% during the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock valued at $1,578,920,000 after purchasing an additional 537,363 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Hershey by 236.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock valued at $92,368,000 after purchasing an additional 484,496 shares in the last quarter. 53.50% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.56, for a total transaction of $233,340.00. Following the completion of the sale, the insider now directly owns 156,929 shares in the company, valued at $24,411,875.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Kevin R. Walling sold 17,745 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $154.23, for a total transaction of $2,736,811.35. Following the sale, the senior vice president now owns 44,599 shares of the company’s stock, valued at $6,878,503.77. The disclosure for this sale can be found here. Insiders sold 33,009 shares of company stock valued at $5,103,372 over the last quarter. Company insiders own 0.41% of the company’s stock.

HSY has been the topic of several recent analyst reports. BMO Capital Markets increased their price objective on shares of Hershey from $133.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Bank of America set a $165.00 price objective on shares of Hershey and gave the company a “buy” rating in a report on Friday, October 25th. UBS Group set a $147.00 price objective on shares of Hershey and gave the company a “hold” rating in a report on Friday, October 25th. ValuEngine downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Royal Bank of Canada initiated coverage on shares of Hershey in a report on Thursday, October 17th. They set a “sector perform” rating and a $158.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have given a buy rating to the company’s stock. Hershey presently has a consensus rating of “Hold” and an average target price of $145.57.

Shares of NYSE HSY traded down $0.35 during mid-day trading on Friday, reaching $140.97. The company’s stock had a trading volume of 453,727 shares, compared to its average volume of 1,204,769. The stock has a 50-day moving average of $150.66 and a two-hundred day moving average of $143.55. The stock has a market capitalization of $29.35 billion, a P/E ratio of 26.30, a P/E/G ratio of 3.34 and a beta of 0.06. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.47 and a current ratio of 0.80. Hershey Co has a 1-year low of $100.80 and a 1-year high of $162.20.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, October 24th. The company reported $1.61 EPS for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.01. The business had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.12 billion. Hershey had a net margin of 16.18% and a return on equity of 77.39%. The company’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.55 earnings per share. Analysts predict that Hershey Co will post 5.73 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a $0.773 dividend. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is 57.65%.

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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Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co (NYSE:HSY).

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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