Sand Hill Global Advisors LLC Decreases Stake in Hershey Company (The) (NYSE:HSY)

Sand Hill Global Advisors LLC cut its holdings in Hershey Company (The) (NYSE:HSY) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 33,206 shares of the company’s stock after selling 353 shares during the period. Sand Hill Global Advisors LLC’s holdings in Hershey Company (The) were worth $3,565,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its holdings in Hershey Company (The) by 3,144.3% in the first quarter. BlackRock Inc. now owns 10,106,348 shares of the company’s stock valued at $1,104,118,000 after acquiring an additional 9,794,835 shares during the last quarter. Vanguard Group Inc. raised its position in Hershey Company (The) by 2.7% in the first quarter. Vanguard Group Inc. now owns 9,285,024 shares of the company’s stock valued at $1,014,388,000 after purchasing an additional 242,418 shares during the period. State Street Corp raised its position in Hershey Company (The) by 1.0% in the first quarter. State Street Corp now owns 6,194,621 shares of the company’s stock valued at $676,773,000 after purchasing an additional 64,006 shares during the period. Pioneer Investment Management Inc. raised its position in Hershey Company (The) by 3.4% in the first quarter. Pioneer Investment Management Inc. now owns 3,965,863 shares of the company’s stock valued at $433,270,000 after purchasing an additional 131,084 shares during the period. Finally, Alliancebernstein L.P. raised its position in Hershey Company (The) by 2.7% in the first quarter. Alliancebernstein L.P. now owns 2,524,908 shares of the company’s stock valued at $275,846,000 after purchasing an additional 65,991 shares during the period. Hedge funds and other institutional investors own 51.39% of the company’s stock.

Shares of Hershey Company (HSY) traded up 0.7560% during trading on Friday, hitting $110.1465. 492,904 shares of the company were exchanged. 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 $23.40 billion, a P/E ratio of 35.1906 and a beta of 0.38. The company’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 released its quarterly earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.19. Hershey Company (The) had a net margin of 8.95% and a return on equity of 119.66%. The firm had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The firm’s quarterly 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 company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, August 25th will be paid a dividend of $0.656 per share. This is an increase from Hershey Company (The)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Wednesday, August 23rd. This represents a $2.62 annualized dividend and a yield of 2.40%. Hershey Company (The)’s payout ratio is 83.44%.

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

In related news, insider Michele Buck sold 400 shares of Hershey Company (The) stock in a transaction on Monday, June 26th. The shares were sold at an average price of $110.11, for a total transaction of $44,044.00. Following the sale, the insider now owns 166,497 shares of the company’s stock, valued at approximately $18,332,984.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Leslie M. Turner sold 6,373 shares of Hershey Company (The) stock in a transaction 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 sale, the senior vice president now directly 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 ninety days. 0.92% of the stock is currently owned by insiders.

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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