Tredje AP fonden raised its holdings in Hershey Co (NYSE:HSY) by 131.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,083 shares of the company’s stock after buying an additional 13,090 shares during the quarter. Tredje AP fonden’s holdings in Hershey were worth $2,520,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Commerzbank Aktiengesellschaft FI grew its stake in Hershey by 12.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,870 shares of the company’s stock valued at $532,000 after purchasing an additional 528 shares during the period. Dimensional Fund Advisors LP grew its stake in Hershey by 0.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 315,134 shares of the company’s stock valued at $34,401,000 after purchasing an additional 906 shares during the period. Brown Advisory Inc. grew its stake in Hershey by 15.0% in the 3rd quarter. Brown Advisory Inc. now owns 14,819 shares of the company’s stock valued at $1,618,000 after purchasing an additional 1,929 shares during the period. Schwab Charles Investment Management Inc. grew its stake in Hershey by 29.4% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 600,233 shares of the company’s stock valued at $65,528,000 after purchasing an additional 136,537 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp grew its stake in Hershey by 12.2% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 347,310 shares of the company’s stock valued at $37,916,000 after purchasing an additional 37,629 shares during the period. 51.32% of the stock is currently owned by hedge funds and other institutional investors.
HSY has been the subject of several research reports. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. BMO Capital Markets reissued a “hold” rating and set a $105.00 price objective on shares of Hershey in a report on Friday, October 27th. UBS dropped their price objective on Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Citigroup increased their price objective on Hershey from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Susquehanna Bancshares set a $113.00 price objective on Hershey and gave the stock a “hold” rating in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $113.35.
Hershey Co (NYSE:HSY) traded up $0.64 on Wednesday, reaching $113.40. The company had a trading volume of 192,690 shares, compared to its average volume of 1,030,855. The company has a current ratio of 0.95, a quick ratio of 0.55 and a debt-to-equity ratio of 2.45. Hershey Co has a fifty-two week low of $97.51 and a fifty-two week high of $116.49. The company has a market cap of $23,767.56, a price-to-earnings ratio of 23.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.39.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.04. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. Hershey had a return on equity of 124.06% and a net margin of 9.52%. Hershey’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $1.29 EPS. equities research analysts anticipate that Hershey Co will post 4.8 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be given a $0.656 dividend. The ex-dividend date of this dividend is Tuesday, November 21st. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.31%. Hershey’s dividend payout ratio is currently 77.98%.
Hershey declared that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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Hershey 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.
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