Sigma Planning Corp purchased a new position in Hershey Co (NYSE:HSY) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 2,245 shares of the company’s stock, valued at approximately $255,000.
Other hedge funds have also made changes to their positions in the company. WFG Advisors LP lifted its stake in Hershey by 25.2% in the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after acquiring an additional 201 shares during the period. Calton & Associates Inc. purchased a new stake in Hershey in the fourth quarter worth $108,000. Benjamin F. Edwards & Company Inc. lifted its stake in Hershey by 528.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the company’s stock worth $166,000 after acquiring an additional 1,232 shares during the period. Dupont Capital Management Corp purchased a new stake in Hershey in the fourth quarter worth $169,000. Finally, Valeo Financial Advisors LLC purchased a new stake in Hershey in the third quarter worth $174,000. 51.76% of the stock is owned by institutional investors.
In other news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the transaction, the insider now directly owns 164,497 shares in the company, valued at $17,765,676. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,200 shares of company stock valued at $133,800 over the last 90 days. Corporate insiders own 0.92% of the company’s stock.
Several equities analysts have commented on the company. JPMorgan Chase & Co. assumed coverage on Hershey in a research report on Wednesday. They set a “neutral” rating and a $106.00 price objective for the company. Argus lowered their price objective on Hershey from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Barclays lowered their price objective on Hershey from $110.00 to $107.00 and set an “equal weight” rating for the company in a research report on Friday, February 2nd. Morgan Stanley lowered their price objective on Hershey from $105.00 to $100.00 and set an “underweight” rating for the company in a research report on Friday, February 2nd. Finally, Credit Suisse Group lowered Hershey from an “outperform” rating to a “neutral” rating and lowered their price objective for the company from $129.00 to $115.00 in a research report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company’s stock. Hershey has an average rating of “Hold” and a consensus target price of $111.44.
Hershey Co (NYSE:HSY) opened at $100.71 on Friday. Hershey Co has a twelve month low of $97.62 and a twelve month high of $116.49. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $21,216.37, a price-to-earnings ratio of 27.52, a PEG ratio of 2.17 and a beta of 0.26.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.06 by ($0.03). Hershey had a net margin of 10.42% and a return on equity of 116.74%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.96 billion. During the same quarter in the previous year, the business earned $1.17 earnings per share. Hershey’s revenue was down 1.5% compared to the same quarter last year. sell-side analysts anticipate that Hershey Co will post 5.36 EPS for the current fiscal year.
Hershey declared that its Board of Directors has authorized a stock repurchase plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Friday, February 23rd will be issued a dividend of $0.656 per share. The ex-dividend date is Thursday, February 22nd. This represents a $2.62 annualized dividend and a dividend yield of 2.61%. Hershey’s payout ratio is presently 71.58%.
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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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