Dean Capital Investments Management LLC trimmed its holdings in shares of Hershey Co (NYSE:HSY) by 14.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,380 shares of the company’s stock after selling 561 shares during the quarter. Dean Capital Investments Management LLC’s holdings in Hershey were worth $524,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of HSY. APG Asset Management N.V. increased its position in Hershey by 145.7% during the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock worth $319,972,000 after buying an additional 1,612,100 shares during the last quarter. Renaissance Technologies LLC increased its position in Hershey by 60.0% during the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock worth $568,363,000 after buying an additional 1,589,800 shares during the last quarter. Nuveen Asset Management LLC increased its position in Hershey by 34,749.1% during the second quarter. Nuveen Asset Management LLC now owns 1,015,850 shares of the company’s stock worth $136,154,000 after buying an additional 1,012,935 shares during the last quarter. Vanguard Group Inc. increased its position in Hershey by 4.8% during the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock worth $1,578,920,000 after buying an additional 537,363 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in Hershey by 236.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock worth $92,368,000 after buying an additional 484,496 shares during the last quarter. 53.61% of the stock is currently owned by hedge funds and other institutional investors.
In other Hershey news, major shareholder Hershey Trust Co sold 3,100 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $158.38, for a total transaction of $490,978.00. Following the completion of the transaction, the insider now owns 83,230 shares in the company, valued at $13,181,967.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $155.85, for a total transaction of $233,775.00. Following the transaction, the chief executive officer now owns 153,929 shares of the company’s stock, valued at approximately $23,989,834.65. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,009 shares of company stock valued at $5,081,757. Corporate insiders own 0.41% of the company’s stock.
Hershey (NYSE:HSY) last released its earnings results on Thursday, October 24th. The company reported $1.61 earnings per share 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 during the quarter, compared to analysts’ expectations of $2.12 billion. During the same quarter last year, the company earned $1.55 earnings per share. The firm’s revenue was up 2.6% on a year-over-year basis. As a group, sell-side analysts predict that Hershey Co will post 5.73 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio is 57.65%.
Several research firms have commented on HSY. BMO Capital Markets increased their target price on shares of Hershey from $133.00 to $138.00 and gave the stock a “market perform” rating in a research report on Friday, October 25th. Goldman Sachs Group raised Hershey from a “sell” rating to a “neutral” rating and raised their price target for the company from $86.00 to $142.00 in a research report on Wednesday, July 17th. Royal Bank of Canada initiated coverage on Hershey in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 price target on the stock. Sanford C. Bernstein downgraded Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price target on the stock. in a research report on Thursday, September 12th. They noted that the move was a valuation call. Finally, Wells Fargo & Co raised their price target on Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company. Hershey presently has an average rating of “Hold” and a consensus price target of $145.57.
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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