Hershey Company (The) (NYSE:HSY) Holdings Reduced by Wilkins Investment Counsel Inc.

Wilkins Investment Counsel Inc. trimmed its holdings in Hershey Company (The) (NYSE:HSY) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 61,628 shares of the company’s stock after selling 500 shares during the period. Hershey Company (The) comprises about 2.1% of Wilkins Investment Counsel Inc.’s holdings, making the stock its 25th largest position. Wilkins Investment Counsel Inc.’s holdings in Hershey Company (The) were worth $6,617,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Modera Wealth Management LLC lifted its stake in shares of Hershey Company (The) by 3.5% in the second quarter. Modera Wealth Management LLC now owns 2,930 shares of the company’s stock valued at $315,000 after buying an additional 100 shares in the last quarter. Aberdeen Asset Management PLC UK lifted its stake in shares of Hershey Company (The) by 19.0% in the second quarter. Aberdeen Asset Management PLC UK now owns 39,231 shares of the company’s stock valued at $4,212,000 after buying an additional 6,267 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Hershey Company (The) by 12.8% in the second quarter. Franklin Resources Inc. now owns 36,505 shares of the company’s stock valued at $3,921,000 after buying an additional 4,139 shares in the last quarter. Eaton Vance Management lifted its position in shares of Hershey Company (The) by 0.5% during the second quarter. Eaton Vance Management now owns 557,089 shares of the company’s stock valued at $59,815,000 after purchasing an additional 2,560 shares in the last quarter. Finally, CIBC World Markets Inc. lifted its position in shares of Hershey Company (The) by 34.7% during the second quarter. CIBC World Markets Inc. now owns 25,108 shares of the company’s stock valued at $2,696,000 after purchasing an additional 6,469 shares in the last quarter. 51.39% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hershey Company (NYSE HSY) traded up 0.78% during mid-day trading on Friday, reaching $110.17. 530,702 shares of the company’s stock traded hands. Hershey Company has a 12-month low of $94.03 and a 12-month high of $116.49. The stock has a market cap of $23.41 billion, a price-to-earnings ratio of 35.20 and a beta of 0.38. The firm’s 50 day moving average price is $106.31 and its 200-day moving average price is $108.49.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be paid a dividend of $0.656 per share. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $2.62 annualized dividend and a yield of 2.40%. This is a boost from Hershey Company (The)’s previous quarterly dividend of $0.62. Hershey Company (The)’s dividend payout ratio is currently 83.44%.

A number of research analysts recently weighed in on HSY shares. Morgan Stanley dropped their price target on shares of Hershey Company (The) from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 18th. Zacks Investment Research raised shares of Hershey Company (The) from a “hold” rating to a “buy” rating and set a $121.00 price target on the stock in a research report on Wednesday, June 28th. J P Morgan Chase & Co reissued a “neutral” rating and set a $116.00 price target (down from $119.00) on shares of Hershey Company (The) in a research report on Wednesday, June 28th. BidaskClub lowered shares of Hershey Company (The) from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $111.00 price target (down from $112.00) on shares of Hershey Company (The) in a research report on Thursday, July 27th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $111.48.

In other news, insider Michele Buck sold 400 shares of the stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $110.11, for a total value of $44,044.00. Following the transaction, the insider now owns 166,497 shares in the company, valued at approximately $18,332,984.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Leslie M. Turner sold 6,373 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $112.00, for a total transaction of $713,776.00. Following the completion of the transaction, the senior vice president now owns 80,909 shares in the company, valued at approximately $9,061,808. The disclosure for this sale can be found here. Insiders have sold a total of 4,509,773 shares of company stock worth $478,121,705 in the last 90 days. Company insiders own 0.92% of the company’s stock.

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About Hershey Company (The)

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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