Capital Investment Advisors LLC increases stake in The Hershey Company (NYSE:HSY)
Capital Investment Advisors LLC raised its position in The Hershey Company (NYSE: HSY – Get Rating) by 3.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,204 shares of the company after purchasing an additional 78 shares during the period. Capital Investment Advisors LLC’s holdings in Hershey were worth $477,000 at the end of the last quarter.
A number of other institutional investors and hedge funds have also recently increased or reduced their stakes in the company. Veriti Management LLC increased its position in Hershey shares by 11.2% in the first quarter. Veriti Management LLC now owns 5,298 shares of the company valued at $1,148,000 after purchasing an additional 534 shares during the period. Boston Trust Walden Corp increased its position in Hershey shares by 4.5% in the fourth quarter. Boston Trust Walden Corp now owns 137,002 shares of the company valued at $26,506,000 after purchasing an additional 5,915 shares during the period. Tyler Stone Wealth Management acquired a new equity stake in Hershey in the fourth quarter valued at approximately $106,000. Wellington Management Group LLP increased its position in Hershey shares by 5.2% in the third quarter. Wellington Management Group LLP now owns 34,065 shares of the company valued at $5,766,000 after purchasing an additional 1,687 shares during the period. Finally, Moors & Cabot Inc. increased its position in Hershey shares by 12.0% in the third quarter. Moors & Cabot Inc. now owns 7,595 shares of the company valued at $1,285,000 after purchasing an additional 815 shares during the period. 52.96% of the shares are held by institutional investors.
Several analysts have recently released reports on the stock. Deutsche Bank Aktiengesellschaft raised its price target on Hershey shares from $210.00 to $218.00 in a Friday, April 29 research report. StockNews.com upgraded Hershey’s shares from a “hold” rating to a “buy” rating in a research report on Saturday, May 7. Mizuho raised his price target on Hershey shares from $200.00 to $210.00 in a Friday, April 29 research report. BMO Capital Markets raised its price target on Hershey’s shares from $215.00 to $255.00 in a Friday, April 29 research report. Finally, Royal Bank of Canada raised its price target on Hershey’s shares from $214.00 to $237.00 in a Friday, April 29 research report. Six analysts gave the stock a hold rating and nine gave the company a buy rating. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $219.00.
In related news, SVP Jason Reiman sold 150 Hershey shares in a trade on Thursday, April 7. The stock was sold at an average price of $221.95, for a total value of $33,292.50. Following the completion of the transaction, the Senior Vice President now directly owns 16,617 shares of the company, valued at $3,688,143.15. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, CEO Michele Buck sold 5,000 Hershey shares in a trade on Tuesday, June 7. The shares were sold at an average price of $209.15, for a total value of $1,045,750.00. Following completion of the transaction, the CEO now owns 185,555 shares of the company, valued at $38,808,828.25. The disclosure of this sale can be found here. In the past 90 days, insiders have sold 15,800 shares of the company valued at $3,455,486. Insiders of the company own 0.34% of the shares of the company.
Hershey stock opened at $220.96 on Monday. The company has a market capitalization of $335.75 billion, a PE ratio of 28.40, a growth price-earnings ratio of 3.59 and a beta of 0.36. The company has a debt ratio of 1.40, a quick ratio of 0.56 and a current ratio of 0.96. The Hershey Company has a fifty-two week low of $167.80 and a fifty-two week high of $231.60. The company has a 50-day moving average price of $216.67 and a 200-day moving average price of $207.85.
Hershey Inc (NYSE:HSY – Get Rating) last released its quarterly results on Thursday, April 28. The company reported EPS of $2.53 for the quarter, beating the consensus estimate of $2.10 by $0.43. Hershey had a return on equity of 61.65% and a net margin of 17.29%. The company posted revenue of $2.67 billion in the quarter, versus analyst estimates of $2.49 billion. During the same period last year, the company posted earnings per share of $1.92. The company’s quarterly revenue increased 16.1% year over year. As a group, equity research analysts expect The Hershey Company to post earnings per share of 8.03 for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15. Shareholders of record on Friday, May 20 received a dividend of $0.901 per share. The ex-dividend date was Thursday, May 19. This represents an annualized dividend of $3.60 and a dividend yield of 1.63%. Hershey’s dividend payout ratio is currently 46.27%.
Hershey Company Profile (Get an evaluation)
The Hershey Company, together with its subsidiaries, is engaged in the manufacture and sale of confectionery and pantry products in the United States and abroad. The Company operates through three segments: Confectionery in North America, Savory Snacks in North America and International. It offers chocolate and non-chocolate confectionery products; gum and mint based refreshments, including mints, chewing gums and chewing gums; pantry items, such as baking ingredients, toppings, drinks, and sundae syrups; and snack foods including spreads, meat snacks, bars and snacks, mixes, popcorn and protein bars.
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