Lincoln Capital LLC cut its position in shares of Hershey Company (The) (NYSE:HSY) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,765 shares of the company’s stock after selling 142 shares during the period. Hershey Company (The) accounts for about 1.6% of Lincoln Capital LLC’s portfolio, making the stock its 23rd largest position. Lincoln Capital LLC’s holdings in Hershey Company (The) were worth $2,552,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of Hershey Company (The) by 1.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 292,776 shares of the company’s stock worth $30,283,000 after buying an additional 4,337 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Hershey Company (The) during the fourth quarter worth about $3,769,000. Teachers Advisors LLC increased its stake in shares of Hershey Company (The) by 73.7% in the fourth quarter. Teachers Advisors LLC now owns 414,428 shares of the company’s stock worth $42,864,000 after buying an additional 175,805 shares during the last quarter. Kentucky Retirement Systems acquired a new stake in shares of Hershey Company (The) during the fourth quarter worth about $1,047,000. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Hershey Company (The) during the fourth quarter worth about $467,000. Institutional investors and hedge funds own 51.16% of the company’s stock.
Shares of Hershey Company (NYSE HSY) traded down 0.09% on Friday, reaching $105.20. The company had a trading volume of 572,176 shares. Hershey Company has a 12 month low of $94.03 and a 12 month high of $116.49. The company has a market capitalization of $22.35 billion, a price-to-earnings ratio of 33.61 and a beta of 0.38. The stock has a 50 day moving average price of $106.14 and a 200-day moving average price of $108.56.
Hershey Company (The) (NYSE:HSY) last released its earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.19. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. Analysts forecast that Hershey Company will post $4.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 25th will be issued a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is a boost from Hershey Company (The)’s previous quarterly dividend of $0.62. Hershey Company (The)’s dividend payout ratio is 78.66%.
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Several equities analysts have weighed in on the company. J P Morgan Chase & Co reaffirmed a “neutral” rating and issued a $116.00 target price (down from $119.00) on shares of Hershey Company (The) in a research report on Wednesday, June 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $121.00 target price on shares of Hershey Company (The) in a research report on Friday, July 28th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $115.00 price objective (up previously from $114.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Susquehanna Bancshares Inc set a $118.00 price objective on Hershey Company (The) and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Deutsche Bank AG reiterated a “hold” rating and issued a $111.00 price objective (down previously from $112.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Hershey Company (The) has a consensus rating of “Hold” and a consensus target price of $109.14.
In other news, SVP D Michael Wege sold 14,440 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $115.55, for a total transaction of $1,668,542.00. Following the completion of the transaction, the senior vice president now directly owns 42,506 shares in the company, valued at approximately $4,911,568.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michele Buck sold 400 shares of the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the transaction, the insider now owns 166,097 shares of the company’s stock, valued at $17,938,476. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,408 shares of company stock valued at $11,100,636. Corporate insiders own 0.92% of the company’s stock.
About Hershey Company (The)
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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