Hershey Co (HSY) Shares Sold by Cadence Capital Management LLC

Cadence Capital Management LLC cut its holdings in Hershey Co (NYSE:HSY) by 6.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,819 shares of the company’s stock after selling 1,015 shares during the period. Cadence Capital Management LLC’s holdings in Hershey were worth $1,682,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Calton & Associates Inc. bought a new stake in Hershey in the 4th quarter valued at about $108,000. WFG Advisors LP increased its position in Hershey by 25.2% in the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock valued at $107,000 after buying an additional 201 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Hershey by 528.8% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock valued at $166,000 after buying an additional 1,232 shares in the last quarter. Dupont Capital Management Corp bought a new stake in Hershey in the 4th quarter valued at about $169,000. Finally, Valeo Financial Advisors LLC bought a new stake in Hershey in the 3rd quarter valued at about $174,000. 51.97% of the stock is owned by hedge funds and other institutional investors.

In other Hershey news, CEO Michele Buck sold 400 shares of Hershey stock in a transaction dated Friday, January 26th. The stock was sold at an average price of $111.55, for a total transaction of $44,620.00. Following the completion of the transaction, the chief executive officer now owns 163,697 shares in the company, valued at approximately $18,260,400.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP D Michael Wege sold 15,517 shares of Hershey stock in a transaction dated Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The disclosure for this sale can be found here. Insiders have sold a total of 16,717 shares of company stock valued at $1,812,429 in the last quarter. Company insiders own 0.92% of the company’s stock.

HSY has been the subject of a number of research analyst reports. Zacks Investment Research lowered Hershey from a “hold” rating to a “sell” rating in a research report on Tuesday, December 26th. Susquehanna Bancshares set a $113.00 target price on Hershey and gave the company a “hold” rating in a research report on Monday, December 18th. Citigroup boosted 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. BMO Capital Markets reaffirmed a “hold” rating and issued a $105.00 target price on shares of Hershey in a research report on Friday, October 27th. Finally, Morgan Stanley lowered Hershey from an “equal weight” rating to an “underweight” rating in a research report on Wednesday, January 10th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $111.43.

Hershey Co (NYSE HSY) opened at $99.67 on Friday. The stock has a market capitalization of $20,710.00, a PE ratio of 28.72, a price-to-earnings-growth ratio of 2.13 and a beta of 0.26. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.60 and a current ratio of 0.96. Hershey Co has a 12 month low of $97.62 and a 12 month high of $116.49.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The company had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.96 billion. Hershey had a net margin of 10.42% and a return on equity of 116.74%. Hershey’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.17 EPS. equities research analysts expect that Hershey Co will post 5.36 earnings per share for the current fiscal year.

Hershey declared that its Board of Directors 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 reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be paid a dividend of $0.656 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.62 dividend on an annualized basis and a yield of 2.63%. Hershey’s dividend payout ratio (DPR) is currently 75.50%.

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About Hershey

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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