Stone Ridge Asset Management LLC purchased a new position in shares of Hershey Co (NYSE:HSY) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,713 shares of the company’s stock, valued at approximately $1,784,000.
A number of other hedge funds have also recently modified their holdings of the business. Rodgers Brothers Inc. lifted its stake in Hershey by 5.6% during the third quarter. Rodgers Brothers Inc. now owns 8,900 shares of the company’s stock worth $972,000 after purchasing an additional 475 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Hershey by 2.6% during the third quarter. CIBC Asset Management Inc now owns 19,288 shares of the company’s stock worth $2,106,000 after purchasing an additional 495 shares during the last quarter. Fernwood Investment Management LLC lifted its stake in Hershey by 10.6% during the third quarter. Fernwood Investment Management LLC now owns 5,225 shares of the company’s stock worth $570,000 after purchasing an additional 500 shares during the last quarter. Palo Capital Inc. lifted its stake in shares of Hershey by 6.9% in the 4th quarter. Palo Capital Inc. now owns 8,138 shares of the company’s stock valued at $924,000 after acquiring an additional 522 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Hershey by 12.2% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 4,870 shares of the company’s stock valued at $532,000 after acquiring an additional 528 shares during the last quarter. 53.11% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Michele Buck sold 400 shares of the business’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total transaction of $45,980.00. Following the transaction, the insider now owns 164,097 shares in the company, valued at approximately $18,862,950.15. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.92% of the stock is owned by insiders.
A number of research firms have recently weighed in on HSY. JPMorgan Chase & Co. began coverage on Hershey in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $106.00 target price for the company. Argus lowered their target price on Hershey from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, February 6th. Barclays lowered their target price on Hershey from $110.00 to $107.00 and set an “equal weight” rating for the company in a research note on Friday, February 2nd. Morgan Stanley lowered their target price on Hershey from $105.00 to $100.00 and set an “underweight” rating for the company in a research note on Friday, February 2nd. Finally, Credit Suisse Group lowered Hershey from an “outperform” rating to a “neutral” rating and lowered their target price for the company from $129.00 to $115.00 in a research note on Friday, February 2nd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. Hershey currently has a consensus rating of “Hold” and an average price target of $111.53.
Hershey Co (NYSE:HSY) opened at $101.80 on Wednesday. Hershey Co has a twelve month low of $95.21 and a twelve month high of $116.49. The stock has a market capitalization of $21,258.68, a PE ratio of 21.22, a P/E/G ratio of 2.17 and a beta of 0.36. The company has a current ratio of 0.96, a quick ratio of 0.60 and a debt-to-equity ratio of 2.21.
Hershey (NYSE:HSY) last announced 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). Hershey had a net margin of 10.42% and a return on equity of 116.74%. The business had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $1.17 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. equities analysts forecast that Hershey Co will post 5.36 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Friday, February 23rd will be issued a dividend of $0.656 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.62 dividend on an annualized basis and a yield of 2.58%. Hershey’s dividend 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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