Sumitomo Mitsui Asset Management Company LTD trimmed its position in Hershey Company (The) (NYSE:HSY) by 3.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,665 shares of the company’s stock after selling 2,199 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Hershey Company (The) were worth $6,076,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in HSY. BlackRock Inc. raised its holdings in shares of Hershey Company (The) by 3,144.3% in the 1st quarter. BlackRock Inc. now owns 10,106,348 shares of the company’s stock worth $1,104,118,000 after purchasing an additional 9,794,835 shares during the period. Janus Henderson Group PLC raised its holdings in shares of Hershey Company (The) by 19,853.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock worth $406,519,000 after purchasing an additional 3,767,172 shares during the period. APG Asset Management N.V. raised its holdings in shares of Hershey Company (The) by 417.5% in the 3rd quarter. APG Asset Management N.V. now owns 1,297,179 shares of the company’s stock worth $141,613,000 after purchasing an additional 1,046,500 shares during the period. AJO LP raised its holdings in shares of Hershey Company (The) by 13,232.0% in the 2nd quarter. AJO LP now owns 747,924 shares of the company’s stock worth $80,305,000 after purchasing an additional 742,314 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in shares of Hershey Company (The) by 60.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,699,400 shares of the company’s stock worth $182,465,000 after purchasing an additional 639,400 shares during the period. Institutional investors own 49.93% of the company’s stock.
HSY has been the topic of a number of research reports. Sanford C. Bernstein upgraded Hershey Company (The) from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $109.00 to $127.00 in a report on Thursday, August 17th. Citigroup Inc. raised their price objective on Hershey Company (The) from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Royal Bank Of Canada restated a “hold” rating and issued a $114.00 price objective on shares of Hershey Company (The) in a report on Friday, July 21st. Morgan Stanley cut their price objective on Hershey Company (The) from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 18th. Finally, Susquehanna Bancshares Inc set a $115.00 price objective on Hershey Company (The) and gave the stock a “neutral” rating in a report on Thursday, August 24th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $113.35.
In related news, VP Javier H. Idrovo sold 15,132 shares of the business’s stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $110.04, for a total transaction of $1,665,125.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michele Buck sold 400 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the transaction, the insider now directly owns 165,697 shares of the company’s stock, valued at approximately $17,895,276. The disclosure for this sale can be found here. Insiders have sold a total of 4,519,232 shares of company stock valued at $479,154,674 in the last three months. 0.92% of the stock is owned by insiders.
Shares of Hershey Company (NYSE HSY) opened at 106.18 on Wednesday. Hershey Company has a 52 week low of $95.68 and a 52 week high of $116.49. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 33.92 and a beta of 0.39. The firm’s 50-day moving average price is $108.43 and its 200-day moving average price is $108.40.
Hershey Company (The) (NYSE:HSY) last announced its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. Hershey Company (The) had a return on equity of 124.06% and a net margin of 9.52%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same quarter in the previous year, the firm earned $1.29 earnings per share. The business’s quarterly revenue was up 1.5% compared to the same quarter last year. Equities research analysts expect that Hershey Company will post $4.82 EPS for the current fiscal year.
Hershey Company (The) declared that its board has authorized a stock repurchase program on Thursday, October 26th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be given a dividend of $0.656 per share. The ex-dividend date is Tuesday, November 21st. This represents a $2.62 annualized dividend and a dividend yield of 2.47%. Hershey Company (The)’s dividend payout ratio is presently 77.98%.
Hershey Company (The) Company Profile
The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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