Texas Yale Capital Corp. maintained its stake in Hershey Co (NYSE:HSY) during the first quarter, Holdings Channel reports. The firm owned 5,935 shares of the company’s stock at the end of the first quarter. Texas Yale Capital Corp.’s holdings in Hershey were worth $648,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in HSY. Decatur Capital Management Inc. bought a new stake in Hershey during the third quarter valued at approximately $1,942,000. Quantitative Investment Management LLC boosted its stake in Hershey by 116.4% in the third quarter. Quantitative Investment Management LLC now owns 172,000 shares of the company’s stock valued at $16,443,000 after buying an additional 92,500 shares during the period. First Trust Advisors LP boosted its stake in Hershey by 565.1% in the third quarter. First Trust Advisors LP now owns 846,886 shares of the company’s stock valued at $80,962,000 after buying an additional 719,546 shares during the period. LMR Partners LLP bought a new stake in Hershey during the third quarter valued at approximately $1,442,000. Finally, Physicians Financial Services Inc. boosted its stake in Hershey by 5.3% in the third quarter. Physicians Financial Services Inc. now owns 7,979 shares of the company’s stock valued at $762,000 after buying an additional 401 shares during the period. 52.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hershey Co (NYSE:HSY) traded up 0.98% during midday trading on Friday, hitting $111.84. 730,835 shares of the company were exchanged. The firm’s 50 day moving average price is $108.11 and its 200 day moving average price is $105.20. Hershey Co has a one year low of $89.98 and a one year high of $117.79. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 39.15 and a beta of 0.32.
Hershey (NYSE:HSY) last issued its earnings results on Wednesday, April 26th. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.26 by $0.05. The business had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.89 billion. Hershey had a net margin of 9.68% and a return on equity of 110.82%. Hershey’s revenue was up 2.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.10 earnings per share. Analysts forecast that Hershey Co will post $4.81 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Thursday, May 25th will be paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, May 23rd. Hershey’s dividend payout ratio is presently 73.73%.
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Several analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of Hershey from $112.00 to $114.00 and gave the company a “sector perform” rating in a research note on Thursday, March 2nd. Credit Suisse Group AG set a $121.00 price target on shares of Hershey and gave the company a “buy” rating in a research note on Thursday, March 2nd. Morgan Stanley increased their price target on shares of Hershey from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, February 27th. Argus raised shares of Hershey from a “hold” rating to a “buy” rating and set a $125.00 price target on the stock in a research note on Thursday, February 16th. Finally, Vetr raised shares of Hershey from a “strong sell” rating to a “sell” rating and set a $101.27 price target on the stock in a research note on Thursday, February 16th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $108.25.
In related news, insider Michele Buck sold 2,000 shares of the stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $108.60, for a total transaction of $217,200.00. Following the transaction, the insider now directly owns 158,199 shares of the company’s stock, valued at $17,180,411.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $106.99, for a total transaction of $117,689.00. Following the transaction, the senior vice president now directly owns 28,066 shares in the company, valued at $3,002,781.34. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,981 shares of company stock worth $2,378,322. 0.68% of the stock is owned by insiders.
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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