Sippican Capital Advisors continued to hold its position in Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent filing with the SEC. The firm owned 2,950 shares of the company’s stock at the end of the second quarter. Sippican Capital Advisors’ holdings in Hershey were worth $335,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Orrstown Financial Services Inc. boosted its position in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock valued at $107,000 after buying an additional 20 shares in the last quarter. Boys Arnold & Co. Inc. acquired a new position in Hershey during the second quarter valued at about $212,000. Trust Co. of Virginia VA acquired a new position in Hershey during the second quarter valued at about $212,000. Nadler Financial Group Inc. acquired a new position in Hershey during the second quarter valued at about $222,000. Finally, Mechanics Bank Trust Department acquired a new position in Hershey during the second quarter valued at about $227,000. 53.11% of the stock is owned by institutional investors and hedge funds.
Hershey Co. (NYSE:HSY) traded down 0.32% during midday trading on Friday, hitting $95.85. The company had a trading volume of 3,847,842 shares. The company’s 50 day moving average is $104.42 and its 200 day moving average is $98.86. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 28.07 and a beta of 0.20.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, beating the Zacks’ 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 company earned $1.64 billion during the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. Hershey’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts anticipate that Hershey Co. will post $4.26 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th were paid a $0.618 dividend. 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 yield of 2.58%. The ex-dividend date was Tuesday, August 23rd. Hershey’s payout ratio is presently 72.22%.
Several research analysts have recently issued reports on HSY shares. S&P Equity Research raised Hershey from a “hold” rating to a “buy” rating and upped their price objective for the stock from $94.00 to $126.00 in a research report on Tuesday, July 5th. Citigroup Inc. reaffirmed a “buy” rating and set a $102.00 price objective on shares of Hershey in a research report on Wednesday, June 15th. Vetr raised Hershey from a “hold” rating to a “buy” rating and set a $114.32 target price for the company in a research report on Wednesday, July 13th. Zacks Investment Research raised Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, June 1st. Finally, Argus cut 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 report on Tuesday, July 5th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $100.50.
In other Hershey news, COO Michele Buck sold 13,500 shares of Hershey stock in a transaction that occurred on Thursday, June 30th. The stock was sold at an average price of $107.31, for a total value of $1,448,685.00. Following the completion of the transaction, the chief operating officer now directly owns 168,710 shares in the company, valued at $18,104,270.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the senior vice president now owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The disclosure for this sale can be found here. 0.68% of the stock is owned by company 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.
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co. (NYSE:HSY).
Receive News & Ratings for Hershey Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey Co. and related companies with MarketBeat.com's FREE daily email newsletter.