Westpac Banking Corp lowered its position in shares of Hershey Co. (NYSE:HSY) by 22.3% during the second quarter, Holdings Channel reports. The institutional investor owned 7,656 shares of the company’s stock after selling 2,194 shares during the period. Westpac Banking Corp’s holdings in Hershey were worth $869,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised its stake in Hershey by 6.7% in the first quarter. Geode Capital Management LLC now owns 1,272,000 shares of the company’s stock worth $116,920,000 after buying an additional 79,733 shares in the last quarter. Bartlett & Co. LLC raised its position in Hershey by 2.3% in the second quarter. Bartlett & Co. LLC now owns 169,026 shares of the company’s stock valued at $19,183,000 after buying an additional 3,871 shares in the last quarter. Wellington Management Group LLP raised its position in Hershey by 570.2% in the first quarter. Wellington Management Group LLP now owns 1,060,734 shares of the company’s stock valued at $97,684,000 after buying an additional 902,454 shares in the last quarter. National Pension Service raised its position in Hershey by 4.4% in the first quarter. National Pension Service now owns 93,178 shares of the company’s stock valued at $8,581,000 after buying an additional 3,960 shares in the last quarter. Finally, Seven Eight Capital LLC bought a new position in Hershey during the first quarter valued at $405,000. Institutional investors and hedge funds own 53.11% of the company’s stock.
Hershey Co. (NYSE:HSY) opened at 95.60 on Friday. The firm has a market capitalization of $20.38 billion, a PE ratio of 27.99 and a beta of 0.20. Hershey Co. has a 1-year low of $82.42 and a 1-year high of $117.79. The company’s 50-day moving average is $102.10 and its 200 day moving average is $98.95.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period last year, the company posted $0.78 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. On average, equities analysts expect that Hershey Co. will post $4.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were issued a $0.618 dividend. The ex-dividend date was Tuesday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.58. This represents a $2.47 dividend on an annualized basis and a dividend yield of 2.59%. Hershey’s dividend payout ratio (DPR) is 72.22%.
HSY has been the topic of several research reports. Bank of America Corp. initiated coverage on shares of Hershey in a research note on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 price objective on the stock. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $99.00 price objective (up previously from $89.00) on shares of Hershey in a research note on Friday, July 15th. Vetr lowered shares of Hershey from a “buy” rating to a “hold” rating and set a $114.32 price objective on the stock. in a research note on Monday, July 25th. S&P Equity Research upgraded shares of Hershey from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $126.00 in a research note on Tuesday, July 5th. Finally, Royal Bank Of Canada dropped their price objective on shares of Hershey from $105.00 to $92.00 and set a “sector perform” rating on the stock in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $100.50.
In other news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $111.41, for a total value of $122,551.00. Following the sale, the senior vice president now directly owns 27,188 shares in the company, valued at $3,029,015.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.68% of the stock is currently owned by insiders.
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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