Natixis Sells 55,743 Shares of Hershey Co (NYSE:HSY)

Natixis cut its position in Hershey Co (NYSE:HSY) by 47.2% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,305 shares of the company’s stock after selling 55,743 shares during the quarter. Natixis’ holdings in Hershey were worth $8,351,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Hershey by 2.0% during the first quarter. Nordea Investment Management AB now owns 632,033 shares of the company’s stock worth $72,575,000 after acquiring an additional 12,630 shares during the last quarter. New York State Teachers Retirement System boosted its position in Hershey by 3.1% in the 2nd quarter. New York State Teachers Retirement System now owns 185,547 shares of the company’s stock worth $24,869,000 after purchasing an additional 5,612 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Hershey by 8.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 63,776 shares of the company’s stock worth $8,548,000 after purchasing an additional 4,894 shares in the last quarter. U S Global Investors Inc. purchased a new stake in Hershey in the 2nd quarter worth approximately $1,561,000. Finally, Hyman Charles D purchased a new stake in Hershey in the 2nd quarter worth approximately $214,000. Institutional investors and hedge funds own 53.60% of the company’s stock.

In related news, CEO Michele Buck sold 1,500 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the chief executive officer now directly owns 158,429 shares of the company’s stock, valued at approximately $21,953,506.53. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Hershey Trust Co sold 3,100 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $158.38, for a total value of $490,978.00. Following the completion of the transaction, the insider now directly owns 83,230 shares of the company’s stock, valued at $13,181,967.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,177 shares of company stock valued at $6,941,335. Corporate insiders own 0.41% of the company’s stock.

Shares of HSY stock traded up $0.28 during trading hours on Friday, hitting $155.76. 13,988 shares of the company’s stock were exchanged, compared to its average volume of 1,312,482. 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 firm has a market cap of $32.46 billion, a P/E ratio of 29.02, a P/E/G ratio of 3.68 and a beta of 0.07. The firm has a 50 day moving average of $155.56 and a two-hundred day moving average of $137.27. Hershey Co has a fifty-two week low of $99.15 and a fifty-two week high of $162.20.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.13. The business had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.14 EPS. On average, equities analysts forecast that Hershey Co will post 5.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.773 per share. This represents a $3.09 annualized dividend and a dividend yield of 1.99%. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, August 22nd. Hershey’s dividend payout ratio is presently 57.65%.

Several equities research analysts have commented on HSY shares. Piper Jaffray Companies lowered Hershey from a “neutral” rating to an “underweight” rating and upped their price objective for the stock from $122.00 to $125.00 in a research report on Wednesday, June 19th. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $86.00 to $142.00 in a research report on Wednesday, July 17th. ValuEngine lowered Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday. BMO Capital Markets upped their price objective on Hershey to $133.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Sanford C. Bernstein lowered Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price objective on the stock. in a research report on Thursday, September 12th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $141.93.

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.

See Also: Insider Trading

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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