Symons Capital Management Inc. cut its holdings in Hershey Co (NYSE:HSY) by 69.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,022 shares of the company’s stock after selling 67,898 shares during the quarter. Hershey makes up approximately 2.1% of Symons Capital Management Inc.’s holdings, making the stock its 26th largest holding. Symons Capital Management Inc.’s holdings in Hershey were worth $4,653,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the stock. American National Bank boosted its holdings in Hershey by 1.4% in the 2nd quarter. American National Bank now owns 5,251 shares of the company’s stock worth $704,000 after buying an additional 71 shares during the period. Tdam USA Inc. raised its position in shares of Hershey by 2.7% during the 2nd quarter. Tdam USA Inc. now owns 2,753 shares of the company’s stock valued at $369,000 after buying an additional 73 shares in the last quarter. Private Capital Group LLC raised its position in shares of Hershey by 5.5% during the 2nd quarter. Private Capital Group LLC now owns 1,556 shares of the company’s stock valued at $145,000 after buying an additional 81 shares in the last quarter. Securian Asset Management Inc raised its position in shares of Hershey by 0.6% during the 2nd quarter. Securian Asset Management Inc now owns 14,449 shares of the company’s stock valued at $1,937,000 after buying an additional 82 shares in the last quarter. Finally, Benedict Financial Advisors Inc. raised its position in shares of Hershey by 0.4% during the 2nd quarter. Benedict Financial Advisors Inc. now owns 25,436 shares of the company’s stock valued at $3,409,000 after buying an additional 92 shares in the last quarter. 53.50% of the stock is currently owned by institutional investors.
Shares of NYSE:HSY traded down $0.35 during trading on Friday, reaching $140.97. 453,727 shares of the company were exchanged, compared to its average volume of 1,204,769. The firm has a market capitalization of $29.35 billion, a PE ratio of 26.30, a P/E/G ratio of 3.34 and a beta of 0.06. The business’s fifty day simple moving average is $150.66 and its 200-day simple moving average is $143.55. Hershey Co has a 12-month low of $100.80 and a 12-month high of $162.20. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.80 and a quick ratio of 0.47.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 22nd will be given a dividend of $0.773 per share. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Thursday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 57.65%.
In other news, SVP Kevin R. Walling sold 17,745 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $154.23, for a total transaction of $2,736,811.35. Following the transaction, the senior vice president now directly owns 44,599 shares in the company, valued at $6,878,503.77. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Michele Buck sold 3,832 shares of the stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $152.04, for a total transaction of $582,617.28. Following the transaction, the chief executive officer now owns 157,761 shares in the company, valued at $23,985,982.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 33,009 shares of company stock worth $5,103,372. Corporate insiders own 0.41% of the company’s stock.
A number of analysts recently weighed in on HSY shares. Sanford C. Bernstein lowered shares of Hershey from an “outperform” rating to a “market perform” rating and set a $155.00 price objective on the stock. in a research report on Thursday, September 12th. They noted that the move was a valuation call. Bank of America set a $165.00 price objective on shares of Hershey and gave the stock a “buy” rating in a research report on Friday, October 25th. Credit Suisse Group increased their price objective on shares of Hershey from $130.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Royal Bank of Canada started coverage on shares of Hershey in a research report on Thursday, October 17th. They issued a “sector perform” rating and a $158.00 price objective on the stock. Finally, UBS Group set a $147.00 price objective on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $145.57.
Hershey Company Profile
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.
Further Reading: How is a Moving Average Calculated?
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.