TRUE Private Wealth Advisors acquired a new position in Hershey Co (NYSE:HSY) during the second quarter, Holdings Channel.com reports. The firm acquired 402 shares of the company’s stock, valued at approximately $53,000.
Several other large investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in Hershey by 2.8% during the first quarter. BlackRock Inc. now owns 14,146,007 shares of the company’s stock valued at $1,624,385,000 after buying an additional 381,334 shares during the period. Janus Henderson Group PLC grew its position in Hershey by 6.7% during the second quarter. Janus Henderson Group PLC now owns 2,373,660 shares of the company’s stock valued at $318,137,000 after buying an additional 149,260 shares during the period. Geode Capital Management LLC grew its position in Hershey by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock valued at $234,317,000 after buying an additional 249,155 shares during the period. Northern Trust Corp grew its position in Hershey by 3.3% during the first quarter. Northern Trust Corp now owns 1,933,792 shares of the company’s stock valued at $222,058,000 after buying an additional 61,759 shares during the period. Finally, JPMorgan Chase & Co. grew its position in Hershey by 365.2% during the first quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock valued at $109,523,000 after buying an additional 748,757 shares during the period. Hedge funds and other institutional investors own 53.89% of the company’s stock.
HSY traded down $0.06 during midday trading on Friday, hitting $155.44. 931,700 shares of the company traded hands, compared to its average volume of 1,289,947. The company has a current ratio of 0.88, a quick ratio of 0.48 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $31.94 billion, a price-to-earnings ratio of 29.00, a PEG ratio of 3.32 and a beta of 0.09. Hershey Co has a 52-week low of $98.50 and a 52-week high of $156.69. The business has a 50 day simple moving average of $145.88 and a two-hundred day simple moving average of $126.67.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be issued a dividend of $0.773 per share. This represents a $3.09 annualized dividend and a yield of 1.99%. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Thursday, August 22nd. Hershey’s dividend payout ratio (DPR) is presently 53.92%.
Several research firms recently commented on HSY. Piper Jaffray Companies lowered shares of Hershey from a “neutral” rating to an “underweight” rating and raised their price target for the company from $122.00 to $125.00 in a research report on Wednesday, June 19th. Wells Fargo & Co raised their price target on shares of Hershey from $112.00 to $130.00 and gave the company a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Stifel Nicolaus raised their price target on shares of Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Goldman Sachs Group upgraded shares of Hershey from a “sell” rating to a “neutral” rating and raised their price target for the company from $86.00 to $142.00 in a research report on Wednesday, July 17th. Finally, Bank of America restated a “buy” rating and set a $165.00 price target (up previously from $152.00) on shares of Hershey in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $138.71.
In other news, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $129.14, for a total value of $67,702,936.40. Following the transaction, the insider now directly owns 473,052 shares of the company’s stock, valued at $61,089,935.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin R. Walling sold 36,132 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $135.17, for a total transaction of $4,883,962.44. Following the completion of the transaction, the senior vice president now directly owns 62,997 shares in the company, valued at $8,515,304.49. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 3,100 shares of company stock worth $401,990 and have sold 661,336 shares worth $86,643,260. Company insiders own 0.41% of the company’s stock.
Hershey Company Profile
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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