SignalPoint Asset Management LLC reduced its stake in shares of Hershey Co. (NYSE:HSY) by 7.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,614 shares of the company’s stock after selling 204 shares during the period. SignalPoint Asset Management LLC’s holdings in Hershey were worth $296,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of HSY. CapWealth Advisors LLC increased its position in Hershey by 1.2% in the first quarter. CapWealth Advisors LLC now owns 50,439 shares of the company’s stock valued at $4,645,000 after buying an additional 586 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new position in Hershey during the first quarter valued at approximately $1,832,000. Sentry Investment Management LLC increased its position in Hershey by 3.2% in the first quarter. Sentry Investment Management LLC now owns 11,090 shares of the company’s stock valued at $1,021,000 after buying an additional 349 shares in the last quarter. Tobam purchased a new position in Hershey during the first quarter valued at approximately $1,674,000. Finally, BlackRock Japan Co. Ltd increased its position in Hershey by 5.9% in the first quarter. BlackRock Japan Co. Ltd now owns 207,468 shares of the company’s stock valued at $19,106,000 after buying an additional 11,561 shares in the last quarter. Hedge funds and other institutional investors own 53.11% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded down 0.34% on Wednesday, hitting $94.71. The company had a trading volume of 2,303,295 shares. The stock has a market capitalization of $20.19 billion, a PE ratio of 27.73 and a beta of 0.23. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79. The firm’s 50 day moving average price is $101.16 and its 200-day moving average price is $99.09.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.07. The business earned $1.64 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.78 EPS. Analysts forecast that Hershey Co. will post $4.26 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were given a dividend of $0.618 per share. This is a positive change from Hershey’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, August 23rd. This represents a $2.47 dividend on an annualized basis and a yield of 2.61%. Hershey’s dividend payout ratio is presently 72.22%.
A number of brokerages have recently issued reports on HSY. S&P Equity Research upgraded Hershey from a “hold” rating to a “buy” rating and raised their price objective for the stock from $94.00 to $126.00 in a research report on Tuesday, July 5th. Argus downgraded Hershey from a “buy” rating to a “hold” rating and raised their price objective for the stock from $97.14 to $111.95 in a research report on Tuesday, July 5th. They noted that the move was a valuation call. Goldman Sachs Group Inc. restated a “neutral” rating and set a $89.00 price objective on shares of Hershey in a research report on Saturday, July 2nd. JPMorgan Chase & Co. restated a “neutral” rating on shares of Hershey in a research report on Saturday, July 2nd. Finally, Vetr downgraded Hershey from a “buy” rating to a “hold” rating and set a $115.74 price objective for the company. in a research report on Tuesday, August 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $100.50.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the company’s 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 completion of the transaction, the senior vice president now owns 27,188 shares of the company’s stock, valued at approximately $3,029,015.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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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