Qube Research & Technologies Ltd lessened its stake in shares of Hershey Co (NYSE:HSY) by 75.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 1,632 shares of the company’s stock after selling 4,993 shares during the period. Qube Research & Technologies Ltd’s holdings in Hershey were worth $219,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in HSY. Berman Capital Advisors LLC lifted its position in shares of Hershey by 172.8% during the 2nd quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock valued at $28,000 after acquiring an additional 140 shares during the last quarter. Trustcore Financial Services LLC acquired a new stake in shares of Hershey during the 1st quarter valued at $29,000. Bremer Bank National Association acquired a new stake in Hershey during the 1st quarter valued at $34,000. Cornerstone Advisors Inc. raised its stake in Hershey by 37.3% during the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock valued at $35,000 after purchasing an additional 82 shares during the period. Finally, Nelson Roberts Investment Advisors LLC acquired a new stake in Hershey during the 1st quarter valued at $41,000. Institutional investors own 52.96% of the company’s stock.
In other news, insider Michele Buck sold 1,500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.56, for a total value of $233,340.00. Following the transaction, the insider now directly owns 156,929 shares of the company’s stock, valued at $24,411,875.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Terence L. O’day sold 69,444 shares of the company’s stock in a transaction 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 transaction, the senior vice president now directly owns 45,388 shares in the company, valued at $6,231,772.40. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 3,100 shares of company stock worth $401,990 and sold 132,076 shares worth $18,288,174. Corporate insiders own 0.41% of the company’s stock.
Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.13. Hershey had a net margin of 15.51% and a return on equity of 83.29%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same period in the prior year, the business posted $1.14 earnings per share. Hershey’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, analysts predict that Hershey Co will post 5.74 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be paid a $0.773 dividend. The ex-dividend date is Thursday, August 22nd. This is an increase from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 dividend on an annualized basis and a dividend yield of 1.95%. Hershey’s dividend payout ratio is 53.92%.
Several analysts have issued reports on HSY shares. Piper Jaffray Companies downgraded shares of Hershey from a “neutral” rating to an “underweight” rating and boosted their target price for the company from $122.00 to $125.00 in a research note on Wednesday, June 19th. BMO Capital Markets boosted their target price on shares of Hershey to $133.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. UBS Group raised shares of Hershey from a “sell” rating to a “neutral” rating and boosted their target price for the company from $100.00 to $145.00 in a research note on Monday, July 22nd. Credit Suisse Group boosted their target price on shares of Hershey from $130.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Finally, ValuEngine raised shares of Hershey from a “hold” rating to a “buy” rating in a research note on Thursday, April 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Hershey has a consensus rating of “Hold” and an average price target of $138.71.
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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