Meeder Asset Management Inc. lifted its position in shares of Hershey Co (NYSE:HSY) by 363.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,460 shares of the company’s stock after acquiring an additional 16,049 shares during the quarter. Meeder Asset Management Inc.’s holdings in Hershey were worth $2,743,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings in Hershey by 365.2% in the first quarter. JPMorgan Chase & Co. now owns 953,783 shares of the company’s stock valued at $109,523,000 after purchasing an additional 748,757 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Hershey by 236.7% in the second quarter. Robeco Institutional Asset Management B.V. now owns 689,182 shares of the company’s stock valued at $92,368,000 after purchasing an additional 484,496 shares during the last quarter. Bank of Montreal Can increased its holdings in Hershey by 75.8% in the first quarter. Bank of Montreal Can now owns 915,365 shares of the company’s stock valued at $105,111,000 after purchasing an additional 394,684 shares during the last quarter. BlackRock Inc. increased its holdings in Hershey by 2.8% in the first quarter. BlackRock Inc. now owns 14,146,007 shares of the company’s stock valued at $1,624,385,000 after purchasing an additional 381,334 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Hershey by 17.5% in the first quarter. Janus Henderson Group PLC now owns 2,224,400 shares of the company’s stock valued at $255,428,000 after purchasing an additional 331,806 shares during the last quarter. Institutional investors own 52.96% of the company’s stock.
In other Hershey news, insider Michele Buck sold 1,500 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.56, for a total value of $233,340.00. Following the completion of the transaction, the insider now directly owns 156,929 shares of the company’s stock, valued at $24,411,875.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hershey Trust Co sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $153.05, for a total value of $918,300.00. Following the completion of the transaction, the insider now directly owns 86,330 shares of the company’s stock, valued at $13,212,806.50. The disclosure for this sale can be found here. Over the last three months, insiders acquired 3,100 shares of company stock valued at $401,990 and sold 137,076 shares valued at $18,940,324. 0.41% of the stock is currently owned by insiders.
NYSE:HSY traded up $0.08 on Tuesday, reaching $157.85. The company’s stock had a trading volume of 22,492 shares, compared to its average volume of 1,246,889. Hershey Co has a 1-year low of $98.50 and a 1-year high of $158.40. 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 firm has a market cap of $32.58 billion, a PE ratio of 29.33, a PEG ratio of 3.38 and a beta of 0.09. The business’s 50-day moving average price is $147.21 and its two-hundred day moving average price is $127.11.
Hershey (NYSE:HSY) last posted its earnings results on Thursday, July 25th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.13. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same period in the previous year, the firm earned $1.14 earnings per share. The company’s revenue was up .9% on a year-over-year basis. As a group, sell-side analysts expect that Hershey Co will post 5.74 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be paid a $0.773 dividend. This represents a $3.09 dividend on an annualized basis and a yield of 1.96%. This is a boost from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date is Thursday, August 22nd. Hershey’s payout ratio is presently 53.92%.
HSY has been the subject of a number of recent analyst reports. Evercore ISI initiated coverage on Hershey in a report on Tuesday, June 11th. They issued an “in-line” rating and a $145.00 price objective for the company. Stifel Nicolaus upped their price objective on Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a report on Friday, July 26th. BMO Capital Markets upped their price objective on Hershey to $133.00 and gave the company a “market perform” rating in a report on Friday, July 26th. Bank of America reiterated a “buy” rating and issued a $165.00 price objective (up previously from $152.00) on shares of Hershey in a report on Friday, July 26th. Finally, Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and upped their price objective for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $138.71.
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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