Comerica Bank Buys 537 Shares of Hershey Company (The) (HSY)

Comerica Bank increased its stake in Hershey Company (The) (NYSE:HSY) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,461 shares of the company’s stock after acquiring an additional 537 shares during the period. Comerica Bank’s holdings in Hershey Company (The) were worth $6,332,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in Hershey Company (The) by 5.5% during the 2nd quarter. BlackRock Inc. now owns 10,664,194 shares of the company’s stock valued at $1,145,016,000 after purchasing an additional 557,846 shares during the period. Vanguard Group Inc. increased its holdings in Hershey Company (The) by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 9,545,096 shares of the company’s stock valued at $1,024,857,000 after purchasing an additional 260,072 shares during the period. State Street Corp increased its holdings in Hershey Company (The) by 1.2% during the 2nd quarter. State Street Corp now owns 6,270,169 shares of the company’s stock valued at $673,225,000 after purchasing an additional 75,548 shares during the period. Janus Henderson Group PLC increased its holdings in Hershey Company (The) by 19,853.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,786,147 shares of the company’s stock valued at $406,519,000 after purchasing an additional 3,767,172 shares during the period. Finally, Northern Trust Corp increased its holdings in Hershey Company (The) by 0.3% during the 2nd quarter. Northern Trust Corp now owns 1,825,282 shares of the company’s stock valued at $195,980,000 after purchasing an additional 5,796 shares during the period. Institutional investors own 49.16% of the company’s stock.

Hershey Company (NYSE:HSY) opened at $110.10 on Tuesday. The stock has a market capitalization of $23,200.00, a P/E ratio of 22.26, a P/E/G ratio of 2.97 and a beta of 0.36. Hershey Company has a 12-month low of $95.68 and a 12-month high of $116.49. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55.

Hershey Company (The) (NYSE:HSY) last released its quarterly earnings data on Thursday, October 26th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.29 by $0.04. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.01 billion. Hershey Company (The) had a return on equity of 124.06% and a net margin of 9.52%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.29 EPS. equities analysts anticipate that Hershey Company will post 4.8 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Wednesday, November 22nd will be given a $0.656 dividend. The ex-dividend date is Tuesday, November 21st. This represents a $2.62 annualized dividend and a yield of 2.38%. Hershey Company (The)’s dividend payout ratio (DPR) is presently 85.34%.

Hershey Company (The) declared that its board has authorized a stock repurchase plan on Thursday, October 26th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

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In other news, VP Javier H. Idrovo sold 15,132 shares of the stock in a transaction on Wednesday, October 11th. The stock was sold at an average price of $110.04, for a total transaction of $1,665,125.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $106.01, for a total value of $477,045,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,534,049 shares of company stock worth $480,760,013 over the last ninety days. 0.92% of the stock is currently owned by insiders.

A number of research analysts recently issued reports on the company. Zacks Investment Research downgraded Hershey Company (The) from a “buy” rating to a “hold” rating in a report on Monday, October 30th. BMO Capital Markets restated a “hold” rating and set a $105.00 price target on shares of Hershey Company (The) in a report on Friday, October 27th. UBS AG reduced their price target on Hershey Company (The) from $110.00 to $106.00 and set a “neutral” rating on the stock in a report on Friday, October 27th. Citigroup Inc. upped their target price on Hershey Company (The) from $126.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, October 27th. Finally, Susquehanna Bancshares Inc set a $113.00 target price on Hershey Company (The) and gave the stock a “hold” rating in a report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. Hershey Company (The) has an average rating of “Hold” and an average price target of $113.35.

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.

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

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