Community Bank N.A. grew its holdings in Hershey Co (NYSE:HSY) by 187.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,755 shares of the company’s stock after purchasing an additional 3,755 shares during the period. Community Bank N.A.’s holdings in Hershey were worth $746,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Marathon Asset Management LLP boosted its stake in Hershey by 213.8% in the second quarter. Marathon Asset Management LLP now owns 509,634 shares of the company’s stock valued at $66,058,000 after buying an additional 347,248 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Hershey by 192.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 434,073 shares of the company’s stock valued at $57,515,000 after purchasing an additional 285,398 shares during the last quarter. Unigestion Holding SA acquired a new position in Hershey during the 1st quarter worth approximately $36,594,000. AJO LP lifted its stake in Hershey by 296.3% in the 1st quarter. AJO LP now owns 356,162 shares of the company’s stock valued at $47,191,000 after purchasing an additional 266,290 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Hershey by 39.8% in the first quarter. AQR Capital Management LLC now owns 903,184 shares of the company’s stock valued at $119,672,000 after buying an additional 256,936 shares in the last quarter. 52.50% of the stock is owned by institutional investors.
HSY stock traded up $0.12 during midday trading on Friday, hitting $145.41. The stock had a trading volume of 1,757,059 shares, compared to its average volume of 1,193,834. The company has a current ratio of 1.31, a quick ratio of 0.86 and a debt-to-equity ratio of 2.33. The firm has a market cap of $30.25 billion, a P/E ratio of 28.51, a price-to-earnings-growth ratio of 3.15 and a beta of 0.16. The business has a fifty day moving average price of $132.89 and a two-hundred day moving average price of $140.13. Hershey Co has a 1-year low of $109.88 and a 1-year high of $162.20.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 21st will be issued a dividend of $0.804 per share. This represents a $3.22 dividend on an annualized basis and a dividend yield of 2.21%. This is a boost from Hershey’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Thursday, August 20th. Hershey’s dividend payout ratio is presently 53.46%.
HSY has been the subject of a number of research reports. Credit Suisse Group increased their price target on Hershey from $152.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Stifel Nicolaus increased their target price on Hershey from $135.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, July 24th. Barclays restated a “hold” rating on shares of Hershey in a report on Sunday, April 26th. Bank of America reaffirmed a “neutral” rating and issued a $140.00 price objective (down previously from $143.00) on shares of Hershey in a research note on Friday, April 24th. Finally, Jefferies Financial Group lifted their target price on shares of Hershey from $136.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $146.50.
In other news, Director Pamela M. Arway sold 294 shares of Hershey stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $128.98, for a total value of $37,920.12. Following the completion of the sale, the director now owns 15,970 shares in the company, valued at approximately $2,059,810.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 29.39% of the company’s stock.
Hershey Company Profile
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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