Daiwa Securities Group Inc. Sells 1,302 Shares of Hershey Co (NYSE:HSY)

Daiwa Securities Group Inc. cut its holdings in Hershey Co (NYSE:HSY) by 12.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,789 shares of the company’s stock after selling 1,302 shares during the period. Daiwa Securities Group Inc.’s holdings in Hershey were worth $1,362,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Krane Funds Advisors LLC bought a new stake in Hershey in the second quarter worth $25,000. Country Trust Bank bought a new stake in Hershey in the third quarter worth $30,000. Adirondack Trust Co. bought a new stake in Hershey in the third quarter worth $31,000. Eii Capital Management Inc. bought a new stake in Hershey in the third quarter worth $31,000. Finally, Berman Capital Advisors LLC boosted its holdings in Hershey by 172.8% in 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 in the last quarter. Hedge funds and other institutional investors own 53.61% of the company’s stock.

HSY stock opened at $141.73 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47. Hershey Co has a 52-week low of $100.80 and a 52-week high of $162.20. The company has a 50-day moving average of $150.14 and a two-hundred day moving average of $143.79. The stock has a market capitalization of $29.49 billion, a price-to-earnings ratio of 26.44, a price-to-earnings-growth ratio of 3.36 and a beta of 0.06.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, October 24th. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.60 by $0.01. Hershey had a net margin of 16.18% and a return on equity of 77.39%. The company had revenue of $2.13 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The business’s quarterly revenue was up 2.6% compared to the same quarter last year. Equities analysts expect that Hershey Co will post 5.73 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is 57.65%.

In related news, SVP Kevin R. Walling sold 17,745 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total value of $2,736,811.35. Following the completion of the sale, the senior vice president now owns 44,599 shares in the company, valued at $6,878,503.77. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $155.13, for a total transaction of $232,695.00. Following the completion of the sale, the chief executive officer now owns 155,429 shares of the company’s stock, valued at approximately $24,111,700.77. The disclosure for this sale can be found here. Insiders have sold 31,509 shares of company stock valued at $4,870,032 over the last 90 days. Corporate insiders own 0.41% of the company’s stock.

HSY has been the subject of a number of recent research reports. Wells Fargo & Co upped their price objective on shares of Hershey from $112.00 to $130.00 and gave the stock a “market perform” rating in a report on Tuesday, July 23rd. They noted that the move was a valuation call. Credit Suisse Group upped their price objective on shares of Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. UBS Group set a $147.00 price objective on shares of Hershey and gave the stock a “hold” rating in a report on Friday, October 25th. Goldman Sachs Group upgraded shares of Hershey from a “sell” rating to a “neutral” rating and upped their price target for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. Finally, Bank of America set a $165.00 price target on shares of Hershey and gave the company a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $145.57.

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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