Perigon Wealth Management LLC raised its holdings in Hershey Co (NYSE:HSY) by 58.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,713 shares of the company’s stock after acquiring an additional 1,000 shares during the quarter. Perigon Wealth Management LLC’s holdings in Hershey were worth $352,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the business. Verus Capital Partners LLC acquired a new position in shares of Hershey during the 4th quarter worth $57,000. Macquarie Group Ltd. raised its stake in shares of Hershey by 76.7% during the 4th quarter. Macquarie Group Ltd. now owns 3,887 shares of the company’s stock worth $572,000 after buying an additional 1,687 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Hershey by 10.6% during the 4th quarter. Franklin Resources Inc. now owns 144,060 shares of the company’s stock worth $21,174,000 after buying an additional 13,758 shares during the last quarter. Quadrant Capital Group LLC raised its stake in shares of Hershey by 20.8% during the 4th quarter. Quadrant Capital Group LLC now owns 1,167 shares of the company’s stock worth $160,000 after buying an additional 201 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Hershey by 8.2% during the 1st quarter. State of Alaska Department of Revenue now owns 84,844 shares of the company’s stock worth $11,241,000 after buying an additional 6,422 shares during the last quarter. 52.50% of the stock is owned by institutional investors.
A number of research firms recently commented on HSY. BMO Capital Markets lifted their price objective on Hershey from $140.00 to $150.00 and gave the stock a “market perform” rating in a research report on Friday, July 24th. Wells Fargo & Co dropped their price objective on Hershey from $143.00 to $140.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Cfra cut Hershey from a “hold” rating to a “sell” rating and dropped their price objective for the stock from $150.00 to $125.00 in a research report on Thursday, April 23rd. Bank of America reiterated a “neutral” rating and set a $140.00 price objective (down previously from $143.00) on shares of Hershey in a research report on Friday, April 24th. Finally, Stifel Nicolaus lifted their price objective on Hershey from $135.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, July 24th. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the stock. Hershey currently has an average rating of “Hold” and a consensus price target of $146.50.
Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 23rd. The company reported $1.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.18. Hershey had a return on equity of 70.65% and a net margin of 13.50%. The business had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.74 billion. During the same quarter in the previous year, the business earned $1.31 EPS. The company’s revenue for the quarter was down 3.4% on a year-over-year basis. Equities research analysts anticipate that Hershey Co will post 6.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Friday, August 21st will be issued a dividend of $0.804 per share. The ex-dividend date is Thursday, August 20th. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Hershey’s previous quarterly dividend of $0.77. Hershey’s payout ratio is presently 53.46%.
In other news, Director Pamela M. Arway sold 294 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $128.98, for a total transaction of $37,920.12. Following the completion of the sale, the director now owns 15,970 shares in the company, valued at approximately $2,059,810.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 29.39% of the stock is currently owned by insiders.
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: Cost of Debt
Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co (NYSE:HSY).
Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.