CORDA Investment Management LLC. grew its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 95,392 shares of the company's stock after purchasing an additional 8,723 shares during the period. CORDA Investment Management LLC.'s holdings in Hershey were worth $16,315,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the business. Kennon Green & Company LLC boosted its holdings in shares of Hershey by 33.3% during the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock valued at $7,379,000 after acquiring an additional 10,784 shares in the last quarter. Envestnet Portfolio Solutions Inc. lifted its holdings in Hershey by 8.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after buying an additional 1,390 shares during the period. IFM Investors Pty Ltd lifted its holdings in Hershey by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after buying an additional 2,757 shares during the period. Vontobel Holding Ltd. lifted its holdings in Hershey by 8.1% during the 1st quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock worth $3,617,000 after buying an additional 1,582 shares during the period. Finally, Elevate Capital Advisors LLC lifted its stake in shares of Hershey by 23.2% in the 1st quarter. Elevate Capital Advisors LLC now owns 14,105 shares of the company's stock valued at $2,412,000 after purchasing an additional 2,657 shares during the period. Institutional investors own 57.96% of the company's stock.
Insiders Place Their Bets
In other news, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer owned 2,994 shares of the company's stock, valued at approximately $470,387.34. This represents a 24.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP James Turoff sold 1,300 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the completion of the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. This represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,107 shares of company stock worth $9,008,118. 0.34% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on HSY. Sanford C. Bernstein boosted their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Barclays boosted their price objective on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Morgan Stanley decreased their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Six equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $158.84.
View Our Latest Research Report on HSY
Hershey Trading Up 1.8%
Shares of NYSE HSY traded up $2.96 during midday trading on Thursday, reaching $164.91. The company had a trading volume of 715,797 shares, compared to its average volume of 1,802,572. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. The firm's fifty day moving average price is $165.66 and its 200-day moving average price is $164.83. The stock has a market cap of $33.41 billion, a PE ratio of 20.36, a price-to-earnings-growth ratio of 6.28 and a beta of 0.30.
Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. Hershey's quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 EPS. On average, equities research analysts anticipate that Hershey Company will post 6.12 earnings per share for the current year.
Hershey Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.32%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's payout ratio is 67.57%.
About Hershey
(
Free Report)
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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