Raleigh Capital Management Inc. grew its stake in shares of The Hershey Company (NYSE:HSY – Free Report) by 66.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 158 shares of the company’s stock after acquiring an additional 63 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Hershey were worth $40,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the stock. Arlington Partners LLC purchased a new position in shares of Hershey in the 1st quarter worth $27,000. Zions Bancorporation N.A. boosted its holdings in shares of Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after buying an additional 74 shares during the last quarter. ICA Group Wealth Management LLC purchased a new position in shares of Hershey in the fourth quarter worth approximately $36,000. Kepos Capital LP purchased a new position in shares of Hershey in the fourth quarter worth approximately $37,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of Hershey in the first quarter worth approximately $38,000. Hedge funds and other institutional investors own 56.47% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on HSY. Morgan Stanley lowered their target price on Hershey from $270.00 to $245.00 in a research report on Friday, July 28th. JPMorgan Chase & Co. lowered their target price on Hershey from $252.00 to $249.00 in a research report on Wednesday, July 12th. Argus lowered their price target on shares of Hershey from $315.00 to $270.00 and set a “buy” rating on the stock in a report on Friday, August 11th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Hershey from $264.00 to $262.00 in a report on Monday, July 17th. Finally, Mizuho lowered their price target on shares of Hershey from $263.00 to $233.00 in a report on Monday, July 31st. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $264.11.
Hershey Price Performance
NYSE:HSY opened at $211.79 on Friday. The company has a market capitalization of $43.30 billion, a P/E ratio of 24.37, a P/E/G ratio of 2.56 and a beta of 0.29. The business’s 50-day moving average is $225.82 and its 200 day moving average is $245.96. The company has a current ratio of 1.06, a quick ratio of 0.55 and a debt-to-equity ratio of 1.11. The Hershey Company has a 12 month low of $206.69 and a 12 month high of $276.88.
Hershey (NYSE:HSY – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The company reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.12. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a return on equity of 55.74% and a net margin of 16.49%. The company’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.80 earnings per share. On average, equities research analysts forecast that The Hershey Company will post 9.55 earnings per share for the current fiscal year.
Hershey Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, August 18th will be paid a $1.192 dividend. The ex-dividend date is Thursday, August 17th. This represents a $4.77 annualized dividend and a yield of 2.25%. This is an increase from Hershey’s previous quarterly dividend of $1.04. Hershey’s dividend payout ratio (DPR) is presently 54.78%.
In other Hershey news, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the company’s stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $260.47, for a total value of $6,271,596.66. Following the transaction, the insider now owns 2,114,347 shares of the company’s stock, valued at approximately $550,723,963.09. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the firm’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $260.47, for a total transaction of $6,271,596.66. Following the transaction, the insider now directly owns 2,114,347 shares of the company’s stock, valued at $550,723,963.09. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven E. Voskuil sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $214.36, for a total transaction of $321,540.00. Following the transaction, the chief financial officer now directly owns 37,316 shares in the company, valued at $7,999,057.76. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 81,296 shares of company stock valued at $20,782,032. 0.34% of the stock is currently owned by insiders.
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.
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