Pacer Advisors Inc. purchased a new position in shares of Hershey Co (NYSE:HSY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,428 shares of the company’s stock, valued at approximately $2,518,000.
Several other large investors have also recently added to or reduced their stakes in HSY. Truvestments Capital LLC bought a new stake in shares of Hershey during the first quarter worth about $26,000. Ballast Advisors LLC acquired a new position in shares of Hershey in the first quarter worth approximately $27,000. Elmwood Wealth Management Inc. acquired a new position in shares of Hershey in the first quarter worth approximately $27,000. BDO Wealth Advisors LLC acquired a new position in shares of Hershey in the first quarter worth approximately $31,000. Finally, Motco lifted its stake in shares of Hershey by 298.6% in the second quarter. Motco now owns 291 shares of the company’s stock worth $38,000 after acquiring an additional 218 shares during the period. Institutional investors own 52.50% of the company’s stock.
In related news, Director Pamela M. Arway sold 294 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $128.98, for a total transaction of $37,920.12. Following the completion of the sale, the director now owns 15,970 shares in the company, valued at $2,059,810.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 29.39% of the company’s stock.
A number of research firms recently commented on HSY. Credit Suisse Group lifted their price objective on Hershey from $152.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. Stifel Nicolaus lifted their price objective on Hershey from $135.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, July 24th. Evercore ISI raised Hershey from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $145.00 to $162.00 in a research note on Friday, July 24th. Zacks Investment Research raised Hershey from a “sell” rating to a “hold” rating and set a $154.00 price objective on the stock in a research note on Friday, July 24th. Finally, Bank of America reissued a “neutral” rating and issued a $140.00 price target (down from $143.00) on shares of Hershey in a research note on Friday, April 24th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. Hershey currently has a consensus rating of “Hold” and a consensus target price of $146.50.
NYSE HSY opened at $145.41 on Friday. The company has a market cap of $30.25 billion, a price-to-earnings ratio of 28.51, a P/E/G ratio of 3.15 and a beta of 0.16. Hershey Co has a 52 week low of $109.88 and a 52 week high of $162.20. The business has a 50 day moving average price of $132.89 and a 200-day moving average price of $140.13. The company has a quick ratio of 0.86, a current ratio of 1.31 and a debt-to-equity ratio of 2.33.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, July 23rd. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.13 by $0.18. The firm had revenue of $1.71 billion during the quarter, compared to the consensus estimate of $1.74 billion. Hershey had a return on equity of 70.65% and a net margin of 13.50%. The company’s quarterly revenue was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.31 earnings per share. On average, equities research analysts anticipate that Hershey Co will post 6.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.804 per share. This is an increase from Hershey’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, August 20th. This represents a $3.22 annualized dividend and a dividend yield of 2.21%. Hershey’s payout ratio is currently 53.46%.
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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