Beck Mack & Oliver LLC continued to hold its position in shares of Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,000 shares of the company’s stock at the end of the second quarter. Beck Mack & Oliver LLC’s holdings in Hershey were worth $340,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Orrstown Financial Services Inc. raised its position in shares of Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares in the last quarter. Grandfield & Dodd LLC bought a new position in shares of Hershey during the second quarter worth about $211,000. Boys Arnold & Co. Inc. bought a new position in shares of Hershey during the second quarter worth about $212,000. Trust Co. of Virginia VA bought a new position in shares of Hershey during the second quarter worth about $212,000. Finally, Nadler Financial Group Inc. acquired a new stake in shares of Hershey during the second quarter worth $222,000. Hedge funds and other institutional investors own 53.01% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.18% during trading on Tuesday, reaching $96.57. The company’s stock had a trading volume of 278,834 shares. The stock’s 50 day moving average price is $96.81 and its 200 day moving average price is $99.34. The company has a market cap of $20.59 billion, a PE ratio of 28.28 and a beta of 0.23. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. Hershey had a return on equity of 100.78% and a net margin of 10.14%. The business had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the previous year, the business posted $0.78 EPS. Hershey’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts predict that Hershey Co. will post $4.26 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 23rd will be issued a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a dividend yield of 2.56%. The ex-dividend date is Monday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 72.22%.
A number of equities research analysts have weighed in on the stock. S&P Equity Research raised shares of Hershey from a “hold” rating to a “buy” rating and upped their price target for the company from $94.00 to $126.00 in a report on Tuesday, July 5th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating and upped their price target for the company from $97.14 to $111.95 in a report on Tuesday, July 5th. They noted that the move was a valuation call. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Hershey in a report on Saturday, July 2nd. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $89.00 price target on shares of Hershey in a report on Saturday, July 2nd. Finally, Credit Suisse Group AG reissued a “neutral” rating and issued a $112.00 price target on shares of Hershey in a report on Tuesday, August 30th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $111.41, for a total transaction of $122,551.00. Following the transaction, the senior vice president now owns 27,188 shares in the company, valued at approximately $3,029,015.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.68% of the company’s stock.
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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