Hershey Company (The) (HSY) Position Cut by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Hershey Company (The) (NYSE:HSY) by 3.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 379,700 shares of the company’s stock after selling 14,901 shares during the period. New York State Common Retirement Fund owned 0.25% of Hershey Company (The) worth $40,768,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in HSY. Columbia Partners L L C Investment Management increased its position in shares of Hershey Company (The) by 14.8% during the second quarter. Columbia Partners L L C Investment Management now owns 46,309 shares of the company’s stock valued at $4,972,000 after acquiring an additional 5,977 shares during the last quarter. Acrospire Investment Management LLC increased its position in shares of Hershey Company (The) by 183.3% during the second quarter. Acrospire Investment Management LLC now owns 1,700 shares of the company’s stock valued at $183,000 after acquiring an additional 1,100 shares during the last quarter. Accident Compensation Corp increased its position in shares of Hershey Company (The) by 6.8% during the second quarter. Accident Compensation Corp now owns 25,231 shares of the company’s stock valued at $2,709,000 after acquiring an additional 1,600 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Hershey Company (The) by 32.6% during the second quarter. Thrivent Financial For Lutherans now owns 6,800 shares of the company’s stock valued at $729,000 after acquiring an additional 1,670 shares during the last quarter. Finally, HS Management Partners LLC increased its position in shares of Hershey Company (The) by 103.0% during the second quarter. HS Management Partners LLC now owns 638,100 shares of the company’s stock valued at $68,513,000 after acquiring an additional 323,725 shares during the last quarter. Hedge funds and other institutional investors own 51.39% of the company’s stock.

In related news, insider Michele Buck sold 400 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the sale, the insider now owns 165,697 shares of the company’s stock, valued at approximately $17,895,276. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $109.43, for a total transaction of $120,373.00. Following the sale, the senior vice president now directly owns 27,666 shares of the company’s stock, valued at approximately $3,027,490.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,504,500 shares of company stock valued at $477,528,302. Corporate insiders own 0.92% of the company’s stock.

HSY has been the subject of a number of recent analyst reports. Sanford C. Bernstein upgraded shares of Hershey Company (The) from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $109.00 to $127.00 in a research report on Thursday, August 17th. Susquehanna Bancshares Inc set a $115.00 price target on shares of Hershey Company (The) and gave the company a “hold” rating in a research report on Saturday, June 17th. Zacks Investment Research cut shares of Hershey Company (The) from a “buy” rating to a “sell” rating in a research report on Thursday, June 29th. Royal Bank Of Canada reiterated a “hold” rating and set a $114.00 price target on shares of Hershey Company (The) in a research report on Friday, July 21st. Finally, BidaskClub cut shares of Hershey Company (The) from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. Hershey Company (The) currently has a consensus rating of “Hold” and an average price target of $111.48.

Hershey Company (HSY) opened at 106.48 on Friday. Hershey Company has a one year low of $94.03 and a one year high of $116.49. The firm has a market cap of $22.62 billion, a PE ratio of 34.02 and a beta of 0.38. The company has a 50 day moving average of $106.64 and a 200-day moving average of $108.51.

Hershey Company (The) (NYSE:HSY) last posted 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 the consensus estimate of $1.65 billion. Hershey Company (The) had a net margin of 8.95% and a return on equity of 119.66%. 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. On average, equities research analysts predict that Hershey Company will post $4.82 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Friday, August 25th were given a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Wednesday, August 23rd. This is an increase from Hershey Company (The)’s previous quarterly dividend of $0.62. Hershey Company (The)’s dividend payout ratio is 83.44%.

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Hershey Company (The) Company Profile

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.

Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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