Fernwood Investment Management LLC lessened its holdings in shares of Hershey Co (NYSE:HSY) by 16.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,925 shares of the company’s stock after selling 800 shares during the period. Fernwood Investment Management LLC’s holdings in Hershey were worth $526,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Berman Capital Advisors LLC lifted its holdings in shares of Hershey by 172.8% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $28,000 after purchasing an additional 140 shares during the period. Trustcore Financial Services LLC bought a new position in Hershey during the first quarter worth $29,000. Bremer Bank National Association bought a new position in Hershey during the first quarter worth $34,000. Cornerstone Advisors Inc. raised its stake in Hershey by 37.3% during the first quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after buying an additional 82 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC bought a new position in Hershey during the first quarter worth $41,000. Institutional investors own 53.89% of the company’s stock.
HSY traded up $2.14 during midday trading on Thursday, hitting $154.56. The company had a trading volume of 34,485 shares, compared to its average volume of 1,374,817. Hershey Co has a 52 week low of $98.01 and a 52 week high of $156.69. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 1.71. The stock has a market cap of $32.67 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 3.39 and a beta of 0.09. The stock’s 50 day simple moving average is $145.09.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be paid a $0.773 dividend. This is an increase from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 annualized dividend and a yield of 2.00%. The ex-dividend date is Thursday, August 22nd. Hershey’s payout ratio is 53.92%.
A number of equities analysts recently weighed in on the stock. Wells Fargo & Co lifted their target price on shares of Hershey from $112.00 to $130.00 and gave the stock a “market perform” rating in a research note on Tuesday, July 23rd. They noted that the move was a valuation call. Evercore ISI assumed coverage on shares of Hershey in a research note on Tuesday, June 11th. They set an “in-line” rating and a $145.00 target price for the company. BMO Capital Markets lifted their target price on shares of Hershey to $133.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. Citigroup lifted their target price on shares of Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research note on Thursday, July 18th. Finally, UBS Group raised shares of Hershey from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $100.00 to $145.00 in a research note on Monday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $138.71.
In other Hershey news, insider Todd W. Tillemans bought 2,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average cost of $129.92 per share, with a total value of $259,840.00. Following the completion of the transaction, the insider now directly owns 15,773 shares in the company, valued at approximately $2,049,228.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michele Buck sold 6,000 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $129.14, for a total transaction of $774,840.00. Following the sale, the chief executive officer now directly owns 163,429 shares of the company’s stock, valued at $21,105,221.06. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 3,100 shares of company stock valued at $401,990 and sold 661,336 shares valued at $86,643,260. Insiders own 0.41% of the company’s stock.
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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