Franklin Street Advisors Inc. NC grew its position in Hershey Co (NYSE:HSY) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 142,658 shares of the company’s stock after purchasing an additional 7,819 shares during the quarter. Hershey makes up approximately 2.4% of Franklin Street Advisors Inc. NC’s portfolio, making the stock its 9th largest holding. Franklin Street Advisors Inc. NC owned 0.07% of Hershey worth $16,193,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in HSY. Victory Capital Management Inc. raised its holdings in Hershey by 15.8% during the 2nd quarter. Victory Capital Management Inc. now owns 14,195 shares of the company’s stock worth $1,524,000 after purchasing an additional 1,941 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Hershey by 1.0% in the 2nd quarter. Principal Financial Group Inc. now owns 222,900 shares of the company’s stock valued at $23,932,000 after buying an additional 2,209 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Hershey by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,401 shares of the company’s stock valued at $1,117,000 after buying an additional 42 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in shares of Hershey in the 2nd quarter valued at approximately $125,000. Finally, CIBC World Markets Inc. boosted its holdings in shares of Hershey by 34.7% in the 2nd quarter. CIBC World Markets Inc. now owns 25,108 shares of the company’s stock valued at $2,696,000 after buying an additional 6,469 shares during the last quarter. 51.26% of the stock is currently owned by institutional investors.
Hershey Co (NYSE:HSY) traded down $0.98 during mid-day trading on Wednesday, reaching $108.29. The company’s stock had a trading volume of 1,641,000 shares, compared to its average volume of 890,150. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45. The company has a market cap of $23,020.00, a PE ratio of 32.23, a price-to-earnings-growth ratio of 2.73 and a beta of 0.38. Hershey Co has a 1 year low of $101.61 and a 1 year high of $116.49.
Hershey declared that its Board of Directors has approved a share buyback program on Thursday, October 26th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.
In other Hershey news, insider Michele Buck sold 400 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the transaction, the insider now owns 164,497 shares in the company, valued at approximately $17,765,676. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP D Michael Wege sold 15,517 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $108.18, for a total value of $1,678,629.06. The disclosure for this sale can be found here. Insiders have sold a total of 16,717 shares of company stock worth $1,811,009 in the last quarter. Company insiders own 0.92% of the company’s stock.
Several equities research analysts have recently commented on HSY shares. Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Friday, December 29th. Sanford C. Bernstein set a $124.00 price objective on Hershey and gave the company a “buy” rating in a report on Tuesday, December 19th. Citigroup raised their price target on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a report on Friday, October 27th. Royal Bank of Canada reaffirmed a “hold” rating and set a $122.00 price target on shares of Hershey in a report on Friday, December 22nd. Finally, Susquehanna Bancshares set a $113.00 price target on Hershey and gave the company a “hold” rating in a report on Thursday, October 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Hershey currently has an average rating of “Hold” and a consensus target price of $112.89.
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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