Xact Kapitalforvaltning AB Grows Stock Holdings in Hershey Co (NYSE:HSY)

Xact Kapitalforvaltning AB boosted its stake in shares of Hershey Co (NYSE:HSY) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,775 shares of the company’s stock after buying an additional 1,097 shares during the period. Xact Kapitalforvaltning AB’s holdings in Hershey were worth $2,730,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Trustcore Financial Services LLC acquired a new position in shares of Hershey during the first quarter worth approximately $29,000. Bremer Trust National Association acquired a new position in shares of Hershey during the fourth quarter worth approximately $29,000. Bremer Bank National Association acquired a new position in shares of Hershey during the first quarter worth approximately $34,000. Claybrook Capital LLC acquired a new position in shares of Hershey during the fourth quarter worth approximately $29,000. Finally, Cornerstone Advisors Inc. lifted its holdings in shares of Hershey by 37.3% during the first quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after buying an additional 82 shares during the last quarter. 53.56% of the stock is currently owned by institutional investors.

A number of brokerages recently commented on HSY. Piper Jaffray Companies lowered Hershey from a “neutral” rating to an “underweight” rating and upped their target price for the company from $122.00 to $125.00 in a research note on Wednesday, June 19th. Bank of America upped their target price on Hershey from $130.00 to $152.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Evercore ISI started coverage on Hershey in a research report on Tuesday, June 11th. They issued an “in-line” rating and a $145.00 price target on the stock. Credit Suisse Group upped their price target on Hershey from $123.00 to $130.00 and gave the company a “positive” rating in a research report on Thursday, May 30th. Finally, Zacks Investment Research cut Hershey from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Hershey has an average rating of “Hold” and an average target price of $120.00.

In related news, SVP Terence L. O’day sold 69,444 shares of Hershey stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $137.30, for a total transaction of $9,534,661.20. Following the completion of the sale, the senior vice president now directly owns 45,388 shares of the company’s stock, valued at approximately $6,231,772.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Todd W. Tillemans acquired 2,000 shares of Hershey stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average price of $129.92 per share, for a total transaction of $259,840.00. Following the transaction, the insider now directly owns 15,773 shares in the company, valued at $2,049,228.16. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 3,100 shares of company stock worth $401,990 and have sold 3,691,262 shares worth $466,022,353. Company insiders own 0.41% of the company’s stock.

Hershey stock opened at $134.03 on Friday. Hershey Co has a 12-month low of $90.52 and a 12-month high of $139.34. The firm has a 50-day moving average price of $133.21. The company has a debt-to-equity ratio of 2.27, a quick ratio of 0.59 and a current ratio of 0.92. The company has a market capitalization of $28.16 billion, a PE ratio of 25.01, a price-to-earnings-growth ratio of 2.96 and a beta of 0.11.

Hershey (NYSE:HSY) last released its earnings results on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.11. The firm had revenue of $2.02 billion for the quarter, compared to analyst estimates of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.41 earnings per share. Research analysts predict that Hershey Co will post 5.7 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were given a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date was Thursday, May 23rd. Hershey’s dividend payout ratio is currently 53.92%.

About Hershey

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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