Manning & Napier Group LLC Has $12.59 Million Holdings in Hershey Co (NYSE:HSY)

Manning & Napier Group LLC increased its stake in Hershey Co (NYSE:HSY) by 0.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 81,253 shares of the company’s stock after purchasing an additional 397 shares during the period. Manning & Napier Group LLC’s holdings in Hershey were worth $12,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in shares of Hershey by 0.9% during the second quarter. BlackRock Inc. now owns 14,273,827 shares of the company’s stock valued at $1,913,121,000 after buying an additional 127,820 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hershey by 4.8% in the second quarter. Vanguard Group Inc. now owns 11,780,343 shares of the company’s stock valued at $1,578,920,000 after purchasing an additional 537,363 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Hershey by 60.0% during the second quarter. Renaissance Technologies LLC now owns 4,240,564 shares of the company’s stock worth $568,363,000 after buying an additional 1,589,800 shares during the period. APG Asset Management N.V. boosted its stake in Hershey by 145.7% during the second quarter. APG Asset Management N.V. now owns 2,718,679 shares of the company’s stock worth $319,972,000 after buying an additional 1,612,100 shares during the period. Finally, Janus Henderson Group PLC boosted its stake in Hershey by 6.7% during the second quarter. Janus Henderson Group PLC now owns 2,373,660 shares of the company’s stock worth $318,137,000 after buying an additional 149,260 shares during the period. 53.60% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Kevin R. Walling sold 17,745 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $154.23, for a total transaction of $2,736,811.35. Following the completion of the transaction, the senior vice president now directly owns 44,599 shares in the company, valued at approximately $6,878,503.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michele Buck sold 3,832 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $154.79, for a total value of $593,155.28. Following the transaction, the chief executive officer now owns 159,261 shares of the company’s stock, valued at $24,652,010.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,677 shares of company stock valued at $6,733,480. Company insiders own 0.41% of the company’s stock.

HSY has been the subject of several recent analyst reports. Stifel Nicolaus lifted their price objective on shares of Hershey from $132.00 to $145.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Bank of America reaffirmed a “buy” rating and set a $165.00 target price (up from $152.00) on shares of Hershey in a research note on Friday, July 26th. BMO Capital Markets upped their target price on Hershey to $133.00 and gave the stock a “market perform” rating in a research note on Friday, July 26th. UBS Group raised Hershey from a “sell” rating to a “neutral” rating and upped their target price for the stock from $100.00 to $145.00 in a research note on Monday, July 22nd. Finally, Piper Jaffray Companies downgraded Hershey from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $122.00 to $125.00 in a research note on Wednesday, June 19th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $141.93.

NYSE HSY opened at $156.30 on Friday. The business has a fifty day moving average price of $155.77 and a 200 day moving average price of $138.89. Hershey Co has a one year low of $99.15 and a one year high of $162.20. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.48 and a current ratio of 0.88. The company has a market cap of $32.76 billion, a P/E ratio of 29.16, a P/E/G ratio of 3.71 and a beta of 0.07.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, July 25th. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.18 by $0.13. The firm had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.14 EPS. As a group, sell-side analysts predict that Hershey Co will post 5.74 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.773 per share. The ex-dividend date of this dividend was Thursday, August 22nd. This is a boost from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 dividend on an annualized basis and a dividend yield of 1.98%. Hershey’s dividend payout ratio is currently 57.65%.

About Hershey

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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