Employees Retirement System of Texas Purchases 50,000 Shares of The Hershey Company (NYSE:HSY)

Employees Retirement System of Texas raised its position in The Hershey Company (NYSE:HSY) by 5,000.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,000 shares of the company’s stock after purchasing an additional 50,000 shares during the period. Employees Retirement System of Texas’ holdings in The Hershey were worth $8,883,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in HSY. Certified Advisory Corp purchased a new stake in shares of The Hershey during the 1st quarter valued at $25,000. Capital Analysts LLC purchased a new stake in shares of The Hershey during the 2nd quarter valued at $35,000. Prestige Wealth Management Group LLC raised its position in shares of The Hershey by 38.0% during the 1st quarter. Prestige Wealth Management Group LLC now owns 229 shares of the company’s stock valued at $37,000 after buying an additional 63 shares in the last quarter. Glassman Wealth Services raised its position in shares of The Hershey by 116.5% during the 2nd quarter. Glassman Wealth Services now owns 210 shares of the company’s stock valued at $37,000 after buying an additional 113 shares in the last quarter. Finally, RE Advisers Corp purchased a new stake in shares of The Hershey during the 2nd quarter valued at $38,000. 52.34% of the stock is owned by hedge funds and other institutional investors.

Shares of HSY opened at $175.56 on Friday. The firm’s 50-day moving average price is $177.82 and its 200-day moving average price is $169.51. The firm has a market capitalization of $36.17 billion, a price-to-earnings ratio of 25.52, a PEG ratio of 3.30 and a beta of 0.36. The company has a current ratio of 1.40, a quick ratio of 0.73 and a debt-to-equity ratio of 1.80. The Hershey Company has a 1-year low of $134.00 and a 1-year high of $182.71.

The Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 29th. The company reported $1.47 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.85 billion. The Hershey had a net margin of 16.52% and a return on equity of 63.62%. On average, research analysts forecast that The Hershey Company will post 6.92 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 20th were paid a dividend of $0.901 per share. This is a positive change from The Hershey’s previous quarterly dividend of $0.80. The ex-dividend date was Thursday, August 19th. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.05%. The Hershey’s payout ratio is presently 57.23%.

HSY has been the topic of several research reports. Morgan Stanley raised their price objective on shares of The Hershey from $166.00 to $182.00 and gave the company an “equal weight” rating in a research report on Friday, July 30th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of The Hershey from $166.00 to $173.00 and gave the stock a “hold” rating in a research report on Thursday, July 22nd. Piper Sandler lifted their target price on shares of The Hershey from $182.00 to $194.00 and gave the stock an “overweight” rating in a research report on Friday, July 30th. BMO Capital Markets lifted their target price on shares of The Hershey from $175.00 to $181.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Finally, Credit Suisse Group lifted their target price on shares of The Hershey from $180.00 to $194.00 and gave the stock an “outperform” rating in a research report on Friday, July 30th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $175.38.

In other The Hershey news, CEO Michele Buck sold 2,500 shares of The Hershey stock in a transaction dated Monday, June 28th. The shares were sold at an average price of $175.15, for a total value of $437,875.00. Following the completion of the transaction, the chief executive officer now directly owns 180,497 shares of the company’s stock, valued at $31,614,049.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Hershey Trust Co sold 5,500 shares of The Hershey stock in a transaction dated Monday, August 2nd. The stock was sold at an average price of $178.48, for a total transaction of $981,640.00. Following the completion of the transaction, the insider now directly owns 59,330 shares of the company’s stock, valued at $10,589,218.40. The disclosure for this sale can be found here. Insiders have sold 15,079 shares of company stock worth $2,674,010 in the last three months. 0.32% of the stock is currently owned by insiders.

The Hershey Company Profile

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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Institutional Ownership by Quarter for The Hershey (NYSE:HSY)

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