Fifth Third Bancorp lessened its position in The Hershey Company (NYSE:HSY) by 3.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,096 shares of the company’s stock after selling 648 shares during the quarter. Fifth Third Bancorp’s holdings in The Hershey were worth $2,881,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. lifted its position in shares of The Hershey by 2.2% in the second quarter. Stratos Wealth Partners LTD. now owns 3,575 shares of the company’s stock valued at $464,000 after acquiring an additional 77 shares in the last quarter. Carroll Financial Associates Inc. lifted its position in shares of The Hershey by 5.4% in the third quarter. Carroll Financial Associates Inc. now owns 1,490 shares of the company’s stock valued at $213,000 after acquiring an additional 77 shares in the last quarter. CENTRAL TRUST Co lifted its position in shares of The Hershey by 0.7% in the third quarter. CENTRAL TRUST Co now owns 12,720 shares of the company’s stock valued at $1,823,000 after acquiring an additional 84 shares in the last quarter. IFP Advisors Inc lifted its position in The Hershey by 29.1% during the second quarter. IFP Advisors Inc now owns 377 shares of the company’s stock worth $48,000 after buying an additional 85 shares in the last quarter. Finally, Keebeck Alpha LP lifted its position in The Hershey by 4.8% during the third quarter. Keebeck Alpha LP now owns 2,017 shares of the company’s stock worth $289,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 52.37% of the company’s stock.
HSY has been the topic of a number of analyst reports. Morgan Stanley lifted their price objective on The Hershey from $148.00 to $152.00 and gave the stock an “equal weight” rating in a research report on Monday, November 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on The Hershey from $152.00 to $157.00 and gave the stock a “hold” rating in a research report on Monday, November 9th. Zacks Investment Research downgraded The Hershey from a “buy” rating to a “hold” rating and set a $148.00 price objective on the stock. in a research report on Friday, September 18th. Credit Suisse Group lifted their price objective on The Hershey from $170.00 to $172.00 and gave the stock an “outperform” rating in a research report on Monday, November 9th. Finally, Smith Barney Citigroup began coverage on The Hershey in a research report on Monday, October 19th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $149.13.
HSY opened at $147.78 on Friday. The Hershey Company has a 12 month low of $109.88 and a 12 month high of $161.83. The stock has a market capitalization of $30.76 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.80 and a beta of 0.26. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.31 and a quick ratio of 0.86. The business has a fifty day moving average price of $146.55 and a 200 day moving average price of $139.99.
The Hershey (NYSE:HSY) last released its earnings results on Wednesday, November 11th. The company reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. The Hershey had a return on equity of 70.65% and a net margin of 13.50%. The firm had revenue of $2.22 billion during the quarter, compared to analysts’ expectations of $2.16 billion. During the same period in the previous year, the firm posted $1.61 EPS. The Hershey’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts anticipate that The Hershey Company will post 6.04 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Friday, November 20th will be paid a dividend of $0.804 per share. The ex-dividend date is Thursday, November 19th. This represents a $3.22 annualized dividend and a yield of 2.18%. The Hershey’s payout ratio is 55.71%.
In other The Hershey news, Director Pamela M. Arway sold 256 shares of The Hershey stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $142.02, for a total transaction of $36,357.12. Following the completion of the sale, the director now directly owns 16,002 shares of the company’s stock, valued at approximately $2,272,604.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michele Buck sold 2,500 shares of The Hershey stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $140.31, for a total value of $350,775.00. Following the sale, the chief executive officer now directly owns 165,121 shares of the company’s stock, valued at $23,168,127.51. The disclosure for this sale can be found here. Insiders have sold a total of 5,256 shares of company stock valued at $738,682 over the last three months. 29.39% of the stock is currently owned by insiders.
About The 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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