Enterprise Financial Services Corp continued to hold its stake in Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,656 shares of the company’s stock at the end of the second quarter. Enterprise Financial Services Corp’s holdings in Hershey were worth $188,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of HSY. Orrstown Financial Services Inc. boosted its stake in 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 during the last quarter. Grandfield & Dodd LLC acquired a new position in shares of Hershey during the second quarter worth approximately $211,000. Boys Arnold & Co. Inc. acquired a new position in shares of Hershey during the second quarter worth approximately $212,000. Trust Co. of Virginia VA acquired a new position in shares of Hershey during the second quarter worth approximately $212,000. Finally, Nadler Financial Group Inc. acquired a new position in shares of Hershey during the second quarter worth approximately $222,000. Institutional investors own 53.01% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.71% during midday trading on Wednesday, reaching $95.63. The company’s stock had a trading volume of 692,047 shares. Hershey Co. has a 12 month low of $82.42 and a 12 month high of $117.79. The stock has a 50-day moving average of $96.37 and a 200 day moving average of $99.35. The company has a market cap of $20.39 billion, a price-to-earnings ratio of 28.00 and a beta of 0.23.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the 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 analyst estimates of $1.61 billion. During the same quarter in the prior year, the firm posted $0.78 earnings per share. The firm’s revenue for the quarter was up 3.7% compared to the same quarter last year. On average, analysts predict that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a dividend yield of 2.58%. The ex-dividend date is Monday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 72.22%.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Hershey from a “hold” rating to a “sell” rating in a report on Monday. Vetr raised Hershey from a “buy” rating to a “strong-buy” rating and set a $110.00 price target on the stock in a report on Thursday, September 8th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $100.00 price target on shares of Hershey in a report on Tuesday, September 6th. Credit Suisse Group AG reissued a “neutral” rating and set a $112.00 price target on shares of Hershey in a report on Tuesday, August 30th. Finally, Bank of America Corp. assumed coverage on Hershey in a report on Tuesday, August 30th. They set an “underperform” rating and a $100.00 price target on the stock. Four 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 company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at $3,029,015.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.68% of the company’s stock.
Hershey Company Profile
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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