Symons Capital Management Inc. cut its holdings in shares of Hershey Co (NYSE:HSY) by 4.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 100,870 shares of the company’s stock after selling 4,270 shares during the quarter. Hershey comprises about 5.0% of Symons Capital Management Inc.’s holdings, making the stock its 2nd largest position. Symons Capital Management Inc.’s holdings in Hershey were worth $11,583,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Raymond James & Associates raised its holdings in Hershey by 26.1% during the 4th quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock worth $6,069,000 after purchasing an additional 11,702 shares during the last quarter. Gotham Asset Management LLC raised its holdings in Hershey by 453.3% during the 4th quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock worth $9,944,000 after purchasing an additional 76,011 shares during the last quarter. Captrust Financial Advisors raised its holdings in Hershey by 126.1% during the 4th quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock worth $91,000 after purchasing an additional 473 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Hershey by 5.5% during the 4th quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock worth $16,729,000 after purchasing an additional 8,098 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. raised its holdings in Hershey by 1.2% during the 4th quarter. Ipswich Investment Management Co. Inc. now owns 10,245 shares of the company’s stock worth $1,098,000 after purchasing an additional 125 shares during the last quarter. Institutional investors and hedge funds own 52.71% of the company’s stock.
HSY has been the subject of several analyst reports. Bank of America restated a “buy” rating and set a $130.00 price target (up previously from $120.00) on shares of Hershey in a report on Friday, April 26th. ValuEngine upgraded shares of Hershey from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Barclays raised their price target on shares of Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Zacks Investment Research lowered shares of Hershey from a “buy” rating to a “hold” rating in a report on Monday, January 21st. Finally, Credit Suisse Group set a $123.00 price target on shares of Hershey and gave the stock a “hold” rating in a report on Friday, April 26th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $111.00.
Hershey (NYSE:HSY) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.11. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. Hershey had a net margin of 14.44% and a return on equity of 90.64%. Hershey’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 EPS. Analysts forecast that Hershey Co will post 5.7 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a $0.722 dividend. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $2.89 annualized dividend and a dividend yield of 2.37%. Hershey’s dividend payout ratio is currently 53.92%.
In other news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $109.59, for a total value of $164,385.00. Following the completion of the sale, the insider now owns 166,056 shares in the company, valued at approximately $18,198,077.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 360,715 shares of the business’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $123.09, for a total transaction of $44,400,409.35. Following the sale, the insider now owns 3,639,762 shares of the company’s stock, valued at approximately $448,018,304.58. The disclosure for this sale can be found here. Insiders sold a total of 409,893 shares of company stock valued at $49,949,310 in the last quarter. 0.87% of the stock is currently owned by company insiders.
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The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.
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