Symons Capital Management Inc. Trims Stock Position in Hershey Co (NYSE:HSY)

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Symons Capital Management Inc. lessened its holdings in shares of Hershey Co (NYSE:HSY) by 69.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,022 shares of the company’s stock after selling 67,898 shares during the period. Hershey makes up 2.1% of Symons Capital Management Inc.’s holdings, making the stock its 26th biggest position. Symons Capital Management Inc.’s holdings in Hershey were worth $4,653,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Taylor Hoffman Wealth Management raised its holdings in shares of Hershey by 56.4% during the third quarter. Taylor Hoffman Wealth Management now owns 1,387 shares of the company’s stock worth $215,000 after purchasing an additional 500 shares during the last quarter. Whitnell & Co. purchased a new position in shares of Hershey during the third quarter worth $930,000. Arthur M. Cohen & Associates LLC raised its holdings in shares of Hershey by 3.8% during the third quarter. Arthur M. Cohen & Associates LLC now owns 23,449 shares of the company’s stock worth $3,645,000 after purchasing an additional 848 shares during the last quarter. Alps Advisors Inc. purchased a new position in shares of Hershey during the third quarter worth $370,000. Finally, Front Barnett Associates LLC purchased a new position in shares of Hershey during the third quarter worth $202,000. 53.50% of the stock is owned by hedge funds and other institutional investors.

In other news, major shareholder Hershey Trust Co sold 3,100 shares of Hershey stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $158.38, for a total value of $490,978.00. Following the sale, the insider now owns 83,230 shares in the company, valued at $13,181,967.40. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $155.56, for a total transaction of $233,340.00. Following the completion of the sale, the insider now owns 156,929 shares in the company, valued at approximately $24,411,875.24. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,009 shares of company stock worth $5,103,372. Company insiders own 0.41% of the company’s stock.

A number of research analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Hershey from $133.00 to $138.00 and gave the company a “market perform” rating in a report on Friday, October 25th. Goldman Sachs Group raised shares of Hershey from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. Wells Fargo & Co lifted their price objective on shares of Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Stifel Nicolaus lifted their price objective on shares of Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a report on Friday, July 26th. Finally, UBS Group set a $147.00 price objective on shares of Hershey and gave the company a “hold” rating in a report on Friday, October 25th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $145.57.

HSY traded down $0.35 on Friday, reaching $140.97. The stock had a trading volume of 453,727 shares, compared to its average volume of 1,204,769. Hershey Co has a 12-month low of $100.80 and a 12-month high of $162.20. The company has a current ratio of 0.80, a quick ratio of 0.47 and a debt-to-equity ratio of 1.64. The business’s 50-day moving average price is $150.66 and its two-hundred day moving average price is $143.55. The company has a market cap of $29.35 billion, a P/E ratio of 26.30, a price-to-earnings-growth ratio of 3.34 and a beta of 0.06.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.01. Hershey had a net margin of 16.18% and a return on equity of 77.39%. The business had revenue of $2.13 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the business earned $1.55 earnings per share. The company’s revenue for the quarter was up 2.6% compared to the same quarter last year. As a group, analysts predict that Hershey Co will post 5.73 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a $0.773 dividend. The ex-dividend date of this dividend is Thursday, November 21st. This represents a $3.09 annualized dividend and a dividend yield of 2.19%. Hershey’s dividend payout ratio (DPR) is 57.65%.

Hershey Profile

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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