Janney Montgomery Scott LLC Grows Stake in Hershey Co (HSY)

Janney Montgomery Scott LLC grew its holdings in shares of Hershey Co (NYSE:HSY) by 11.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,839 shares of the company’s stock after purchasing an additional 7,627 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hershey were worth $7,843,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Koch Industries Inc. bought a new position in shares of Hershey during the 2nd quarter valued at approximately $614,000. HighTower Advisors LLC boosted its stake in Hershey by 10.8% in the 2nd quarter. HighTower Advisors LLC now owns 44,186 shares of the company’s stock worth $4,747,000 after purchasing an additional 4,297 shares during the period. Toronto Dominion Bank boosted its stake in Hershey by 13.2% in the 3rd quarter. Toronto Dominion Bank now owns 53,737 shares of the company’s stock worth $5,865,000 after purchasing an additional 6,261 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in Hershey by 16.7% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 140,777 shares of the company’s stock worth $15,117,000 after purchasing an additional 20,116 shares during the period. Finally, Vaughan David Investments Inc. IL boosted its stake in Hershey by 13,195.1% in the 3rd quarter. Vaughan David Investments Inc. IL now owns 271,221 shares of the company’s stock worth $27,787,000 after purchasing an additional 269,181 shares during the period. Institutional investors own 51.32% of the company’s stock.

Hershey Co (NYSE HSY) traded up $0.60 during trading hours on Wednesday, reaching $113.40. The company had a trading volume of 901,300 shares, compared to its average volume of 1,024,254. Hershey Co has a one year low of $98.85 and a one year high of $116.49. The stock has a market cap of $23,763.35, a price-to-earnings ratio of 23.02, a PEG ratio of 3.07 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Hershey had a return on equity of 124.06% and a net margin of 9.52%. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the prior year, the firm posted $1.29 EPS. Hershey’s quarterly revenue was up 1.5% compared to the same quarter last year. analysts anticipate that Hershey Co will post 4.8 earnings per share for the current fiscal year.

Hershey announced that its board has authorized a share repurchase program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be issued a dividend of $0.656 per share. The ex-dividend date is Tuesday, November 21st. This represents a $2.62 annualized dividend and a yield of 2.31%. Hershey’s payout ratio is presently 77.98%.

In other Hershey news, insider Michele Buck sold 400 shares of the stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $108.00, for a total value of $43,200.00. Following the sale, the insider now owns 165,297 shares in the company, valued at $17,852,076. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $109.43, for a total value of $120,373.00. Following the completion of the sale, the senior vice president now owns 27,666 shares in the company, valued at approximately $3,027,490.38. The disclosure for this sale can be found here. Insiders have sold a total of 34,049 shares of company stock worth $3,715,013 in the last 90 days. 0.92% of the stock is currently owned by insiders.

Several research analysts have weighed in on the company. Susquehanna Bancshares set a $113.00 price target on Hershey and gave the stock a “hold” rating in a research note on Thursday, December 7th. Sanford C. Bernstein upgraded Hershey from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $109.00 to $127.00 in a research note on Thursday, August 17th. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $122.00 price target for the company in a research note on Monday, October 2nd. UBS lowered their target price on Hershey from $110.00 to $106.00 and set a “neutral” rating for the company in a research report on Friday, October 27th. Finally, Citigroup increased their target price on Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $113.35.

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Hershey 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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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