Point72 Asset Management L.P. raised its stake in The Hershey Company (NYSE:HSY) by 33.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 217,213 shares of the company’s stock after purchasing an additional 54,233 shares during the quarter. Point72 Asset Management L.P. owned 0.10% of The Hershey worth $34,354,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in HSY. Certified Advisory Corp purchased a new position in shares of The Hershey in the 1st quarter valued at approximately $25,000. Wealthcare Advisory Partners LLC purchased a new position in shares of The Hershey in the 1st quarter valued at approximately $27,000. CBIZ Investment Advisory Services LLC grew its stake in shares of The Hershey by 77.9% in the 4th quarter. CBIZ Investment Advisory Services LLC now owns 338 shares of the company’s stock valued at $29,000 after purchasing an additional 148 shares during the last quarter. SOA Wealth Advisors LLC. purchased a new position in shares of The Hershey in the 4th quarter valued at approximately $30,000. Finally, Childress Capital Advisors LLC purchased a new position in shares of The Hershey in the 4th quarter valued at approximately $37,000. Institutional investors own 52.14% of the company’s stock.
In other The Hershey news, CEO Michele Buck sold 2,500 shares of the business’s stock in a transaction dated Wednesday, April 28th. The stock was sold at an average price of $159.26, for a total transaction of $398,150.00. Following the completion of the sale, the chief executive officer now owns 185,497 shares of the company’s stock, valued at $29,542,252.22. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pamela M. Arway sold 319 shares of the business’s stock in a transaction dated Thursday, July 8th. The shares were sold at an average price of $175.88, for a total value of $56,105.72. Following the sale, the director now directly owns 15,861 shares of the company’s stock, valued at approximately $2,789,632.68. The disclosure for this sale can be found here. Insiders sold 19,796 shares of company stock valued at $3,399,245 over the last quarter. Insiders own 0.32% of the company’s stock.
The Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, April 29th. The company reported $1.92 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.80 by $0.12. The Hershey had a return on equity of 66.00% and a net margin of 16.69%. The company had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.12 billion. During the same period in the previous year, the firm posted $1.63 earnings per share. The business’s revenue for the quarter was up 12.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that The Hershey Company will post 6.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Friday, May 21st were paid a $0.804 dividend. The ex-dividend date was Thursday, May 20th. This represents a $3.22 annualized dividend and a yield of 1.81%. The Hershey’s payout ratio is currently 51.19%.
Several research analysts have weighed in on the company. Citigroup lifted their target price on The Hershey from $172.00 to $187.00 in a research note on Monday, May 3rd. Deutsche Bank Aktiengesellschaft lifted their price target on The Hershey from $166.00 to $173.00 and gave the company a “hold” rating in a research note on Thursday. Morgan Stanley lifted their price target on The Hershey from $152.00 to $166.00 and gave the company an “equal weight” rating in a research note on Friday, April 30th. Finally, The Goldman Sachs Group upgraded The Hershey from a “neutral” rating to a “buy” rating and lifted their price target for the company from $171.00 to $181.00 in a research note on Thursday, April 15th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The Hershey has a consensus rating of “Buy” and a consensus price target of $166.07.
About The Hershey
The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products and pantry items. The company operates in 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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