Prime Capital Investment Advisors LLC cut its stake in shares of The Hershey Company (NYSE:HSY – Get Rating) by 6.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,179 shares of the company's stock after selling 81 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Hershey were worth $260,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in HSY. Blair William & Co. IL boosted its holdings in Hershey by 3.1% in the first quarter. Blair William & Co. IL now owns 30,767 shares of the company's stock valued at $6,665,000 after purchasing an additional 916 shares during the last quarter. Dakota Wealth Management purchased a new stake in Hershey in the first quarter valued at $238,000. Sequoia Financial Advisors LLC boosted its holdings in Hershey by 28.8% in the first quarter. Sequoia Financial Advisors LLC now owns 1,566 shares of the company's stock valued at $339,000 after purchasing an additional 350 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Hershey by 1.6% in the first quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company's stock valued at $3,045,383,000 after purchasing an additional 216,715 shares during the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings in Hershey by 10.8% in the first quarter. Candriam Luxembourg S.C.A. now owns 32,183 shares of the company's stock valued at $6,972,000 after purchasing an additional 3,129 shares during the last quarter. 54.17% of the stock is owned by hedge funds and other institutional investors.
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Insider Buying and Selling at Hershey
In other Hershey news, CEO Michele Buck sold 14,250 shares of the stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $220.39, for a total value of $3,140,557.50. Following the completion of the sale, the chief executive officer now owns 150,555 shares in the company, valued at approximately $33,180,816.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Robert Malcolm sold 2,200 shares of the stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $237.24, for a total value of $521,928.00. Following the completion of the sale, the director now owns 12,779 shares of the company's stock, valued at approximately $3,031,689.96. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Michele Buck sold 14,250 shares of the stock in a transaction that occurred on Monday, November 14th. The shares were sold at an average price of $220.39, for a total transaction of $3,140,557.50. Following the completion of the sale, the chief executive officer now directly owns 150,555 shares of the company's stock, valued at approximately $33,180,816.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 41,023 shares of company stock worth $9,293,587. Insiders own 0.34% of the company's stock.
Hershey Stock Up 4.0 %
HSY opened at $234.42 on Friday. The Hershey Company has a twelve month low of $193.09 and a twelve month high of $242.63. The company has a quick ratio of 0.45, a current ratio of 0.79 and a debt-to-equity ratio of 1.08. The company has a 50-day moving average price of $229.28 and a 200 day moving average price of $227.23. The company has a market cap of $48.07 billion, a PE ratio of 30.60, a price-to-earnings-growth ratio of 3.27 and a beta of 0.35.
Hershey (NYSE:HSY – Get Rating) last released its quarterly earnings results on Thursday, February 2nd. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.25. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.58 billion. Hershey had a net margin of 15.69% and a return on equity of 58.19%. The company's revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.69 EPS. Sell-side analysts expect that The Hershey Company will post 8.28 earnings per share for the current fiscal year.
Hershey Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Friday, February 17th will be issued a $1.036 dividend. This represents a $4.14 dividend on an annualized basis and a yield of 1.77%. Hershey's payout ratio is 54.05%.
Analyst Ratings Changes
HSY has been the topic of several recent research reports. Wells Fargo & Company initiated coverage on shares of Hershey in a report on Tuesday, January 3rd. They issued an "underweight" rating and a $220.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Hershey from $236.00 to $246.00 and gave the stock a "hold" rating in a research report on Tuesday, December 6th. The Goldman Sachs Group upped their price objective on shares of Hershey from $255.00 to $277.00 in a research report on Thursday. BNP Paribas assumed coverage on shares of Hershey in a research report on Tuesday, November 15th. They issued a "neutral" rating and a $235.00 price objective for the company. Finally, StockNews.com downgraded shares of Hershey from a "buy" rating to a "hold" rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $234.94.
Hershey Profile
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The Hershey Co engages in the manufacture and marketing of chocolate, sweets, mints and confectionery products. The firm operates through the following geographical segments: North America and International and Other. The North America is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.
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