Huntington National Bank reduced its stake in shares of Hershey Co. (NYSE:HSY) by 59.8% during the second quarter, Holdings Channel reports. The fund owned 16,784 shares of the company’s stock after selling 24,940 shares during the period. Huntington National Bank’s holdings in Hershey were worth $1,905,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of HSY. ING Groep NV raised its stake in Hershey by 4.7% in the second quarter. ING Groep NV now owns 73,575 shares of the company’s stock valued at $8,349,000 after buying an additional 3,324 shares during the last quarter. Capital Fund Management S.A. increased its stake in Hershey by 16.1% in the second quarter. Capital Fund Management S.A. now owns 10,865 shares of the company’s stock valued at $1,233,000 after buying an additional 1,507 shares in the last quarter. Bartlett & Co. LLC increased its stake 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. American Century Companies Inc. increased its stake in Hershey by 7,523.0% in the second quarter. American Century Companies Inc. now owns 448,232 shares of the company’s stock valued at $50,870,000 after buying an additional 442,352 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its stake in Hershey by 54.2% in the second quarter. Candriam Luxembourg S.C.A. now owns 129,758 shares of the company’s stock valued at $14,727,000 after buying an additional 45,616 shares in the last quarter. 53.11% of the stock is currently owned by institutional investors.
Hershey Co. (NYSE:HSY) traded up 0.82% during mid-day trading on Friday, hitting $96.43. 1,566,730 shares of the company were exchanged. The company has a market cap of $20.56 billion, a price-to-earnings ratio of 28.24 and a beta of 0.23. The stock’s 50 day moving average is $97.22 and its 200-day moving average is $99.20. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.07. The company had revenue of $1.64 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Hershey had a return on equity of 100.78% and a net margin of 10.14%. Hershey’s quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.78 earnings per share. Equities research analysts predict that Hershey Co. will post $4.26 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 23rd will be given a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a dividend yield of 2.56%. Hershey’s payout ratio is 72.22%.
Several equities research analysts have issued reports on the stock. Deutsche Bank AG decreased their price objective on shares of Hershey from $105.00 to $91.00 and set a “hold” rating for the company in a research note on Tuesday, July 26th. Zacks Investment Research downgraded shares of Hershey from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th. Argus downgraded shares of Hershey from a “buy” rating to a “hold” rating and upped their target price for the company from $97.14 to $111.95 in a research note on Tuesday, July 5th. They noted that the move was a valuation call. RBC Capital Markets restated a “sector perform” rating and issued a $105.00 target price (up from $92.00) on shares of Hershey in a research note on Wednesday, July 27th. Finally, Vetr downgraded shares of Hershey from a “strong-buy” rating to a “buy” rating and set a $108.33 target price for the company. in a research note on Tuesday, September 6th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Hershey currently has an average rating of “Hold” and a consensus price target of $100.50.
In related news, SVP D Michael Wege sold 1,100 shares of Hershey stock in a transaction that occurred 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 SEC, which can be accessed through this link. Corporate 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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