Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Hershey Co (NYSE:HSY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,630 shares of the company’s stock, valued at approximately $408,000.
A number of other large investors have also recently modified their holdings of HSY. Balasa Dinverno & Foltz LLC purchased a new position in shares of Hershey in the third quarter worth $1,496,000. AE Wealth Management LLC lifted its holdings in shares of Hershey by 13.0% in the third quarter. AE Wealth Management LLC now owns 3,957 shares of the company’s stock worth $613,000 after buying an additional 454 shares in the last quarter. SlateStone Wealth LLC lifted its holdings in shares of Hershey by 0.9% in the third quarter. SlateStone Wealth LLC now owns 11,729 shares of the company’s stock worth $1,818,000 after buying an additional 100 shares in the last quarter. Boston Advisors LLC lifted its holdings in shares of Hershey by 0.6% in the third quarter. Boston Advisors LLC now owns 26,985 shares of the company’s stock worth $4,182,000 after buying an additional 162 shares in the last quarter. Finally, Ropes Wealth Advisors LLC lifted its holdings in shares of Hershey by 3.4% in the third quarter. Ropes Wealth Advisors LLC now owns 6,072 shares of the company’s stock worth $941,000 after buying an additional 200 shares in the last quarter. 53.61% of the stock is currently owned by institutional investors and hedge funds.
Hershey stock traded up $2.61 during mid-day trading on Wednesday, reaching $145.46. 56,864 shares of the company’s stock traded hands, compared to its average volume of 1,199,350. The company has a market cap of $29.49 billion, a price-to-earnings ratio of 27.14, a PEG ratio of 3.36 and a beta of 0.06. The stock has a 50 day moving average of $149.91 and a two-hundred day moving average of $143.92. The company has a quick ratio of 0.47, a current ratio of 0.80 and a debt-to-equity ratio of 1.64. Hershey Co has a 12-month low of $100.80 and a 12-month high of $162.20.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is 57.65%.
In other Hershey news, SVP Kevin R. Walling sold 17,745 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total transaction of $2,736,811.35. Following the transaction, the senior vice president now owns 44,599 shares in the company, valued at $6,878,503.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hershey Trust Co sold 3,100 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $158.38, for a total transaction of $490,978.00. Following the transaction, the insider now owns 83,230 shares in the company, valued at approximately $13,181,967.40. The disclosure for this sale can be found here. Insiders have sold 33,009 shares of company stock worth $5,081,757 in the last quarter. Company insiders own 0.41% of the company’s stock.
Several equities analysts have recently commented on HSY shares. ValuEngine downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group set a $147.00 target price on shares of Hershey and gave the stock a “hold” rating in a report on Friday, October 25th. Sanford C. Bernstein downgraded shares of Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 target price on the stock. in a report on Thursday, September 12th. They noted that the move was a valuation call. Bank of America set a $165.00 target price on shares of Hershey and gave the stock a “buy” rating in a report on Friday, October 25th. Finally, Stifel Nicolaus upped their price target on shares of Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $145.57.
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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