Edgestream Partners L.P. Sells 2,667 Shares of Hershey Company (The) (HSY)

Edgestream Partners L.P. reduced its position in shares of Hershey Company (The) (NYSE:HSY) by 35.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 4,773 shares of the company’s stock after selling 2,667 shares during the quarter. Edgestream Partners L.P.’s holdings in Hershey Company (The) were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HSY. QCI Asset Management Inc. NY raised its holdings in Hershey Company (The) by 10.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the period. Fiduciary Trust Co. purchased a new stake in Hershey Company (The) during the 2nd quarter valued at $125,000. Invictus RG purchased a new stake in Hershey Company (The) during the 1st quarter valued at $155,000. Independent Portfolio Consultants Inc. raised its holdings in Hershey Company (The) by 139.5% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,521 shares of the company’s stock valued at $163,000 after buying an additional 886 shares during the period. Finally, YorkBridge Wealth Partners LLC raised its holdings in Hershey Company (The) by 43.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock valued at $168,000 after buying an additional 475 shares during the period. Hedge funds and other institutional investors own 51.39% of the company’s stock.

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In other news, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $105.45, for a total transaction of $115,995.00. Following the completion of the transaction, the senior vice president now directly owns 27,866 shares of the company’s stock, valued at approximately $2,938,469.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $106.01, for a total value of $477,045,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,504,500 shares of company stock valued at $477,528,302. Insiders own 0.92% of the company’s stock.

HSY has been the topic of several recent research reports. Sanford C. Bernstein upgraded Hershey Company (The) from a “market perform” rating to an “outperform” rating and increased their price target for the company from $109.00 to $127.00 in a report on Thursday, August 17th. Susquehanna Bancshares Inc set a $115.00 price target on Hershey Company (The) and gave the company a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research lowered Hershey Company (The) from a “buy” rating to a “sell” rating in a report on Thursday, June 29th. Royal Bank Of Canada restated a “hold” rating and set a $114.00 price target on shares of Hershey Company (The) in a report on Friday, July 21st. Finally, BidaskClub lowered Hershey Company (The) from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $111.48.

Hershey Company (HSY) opened at 106.48 on Friday. The company has a market cap of $22.62 billion, a P/E ratio of 34.02 and a beta of 0.38. Hershey Company has a 52-week low of $94.03 and a 52-week high of $116.49. The stock’s 50 day moving average price is $106.64 and its 200-day moving average price is $108.51.

Hershey Company (The) (NYSE:HSY) last issued its quarterly earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The company had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the business earned $0.85 EPS. Hershey Company (The)’s revenue was up 1.5% on a year-over-year basis. On average, equities analysts predict that Hershey Company will post $4.82 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a dividend of $0.656 per share. This is a boost from Hershey Company (The)’s previous quarterly dividend of $0.62. This represents a $2.62 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Wednesday, August 23rd. Hershey Company (The)’s dividend payout ratio is currently 83.44%.

Hershey Company (The) Company Profile

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.

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

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