Hershey Co (HSY) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama reduced its stake in Hershey Co (NYSE:HSY) by 3.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,696 shares of the company’s stock after selling 4,753 shares during the period. Retirement Systems of Alabama owned approximately 0.06% of Hershey worth $12,515,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Dearborn Partners LLC purchased a new stake in Hershey during the third quarter worth about $272,000. HighPoint Advisor Group LLC purchased a new stake in Hershey during the third quarter worth about $174,000. Steward Partners Investment Advisory LLC increased its stake in Hershey by 20.7% during the third quarter. Steward Partners Investment Advisory LLC now owns 4,925 shares of the company’s stock worth $502,000 after purchasing an additional 846 shares during the period. Meag Munich Ergo Kapitalanlagegesellschaft MBH increased its stake in Hershey by 6,114.6% during the third quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH now owns 43,502 shares of the company’s stock worth $4,402,000 after purchasing an additional 42,802 shares during the period. Finally, RDL Financial Inc. purchased a new stake in Hershey during the third quarter worth about $976,000. Hedge funds and other institutional investors own 52.58% of the company’s stock.

In other news, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of the business’s stock in a transaction dated Monday, October 29th. The stock was sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the completion of the transaction, the insider now directly owns 102,330 shares of the company’s stock, valued at $10,846,980. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Patricia A. Little sold 17,589 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $103.00, for a total value of $1,811,667.00. Following the transaction, the chief financial officer now directly owns 37,086 shares of the company’s stock, valued at $3,819,858. The disclosure for this sale can be found here. Over the last three months, insiders have sold 121,716 shares of company stock valued at $12,690,499. Corporate insiders own 0.87% of the company’s stock.

A number of analysts have issued reports on HSY shares. Zacks Investment Research upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research note on Monday, September 24th. Consumer Edge lowered shares of Hershey from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 9th. Piper Jaffray Companies set a $100.00 price target on shares of Hershey and gave the stock a “hold” rating in a research note on Wednesday, August 29th. ValuEngine upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Stifel Nicolaus boosted their price target on shares of Hershey from $90.00 to $95.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. Hershey currently has an average rating of “Hold” and a consensus price target of $103.81.

Shares of Hershey stock opened at $108.04 on Wednesday. Hershey Co has a one year low of $89.10 and a one year high of $115.82. The stock has a market cap of $21.45 billion, a PE ratio of 22.70, a P/E/G ratio of 2.25 and a beta of 0.32. The company has a debt-to-equity ratio of 2.60, a current ratio of 1.01 and a quick ratio of 0.69.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, October 25th. The company reported $1.55 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.55. Hershey had a return on equity of 102.30% and a net margin of 13.20%. The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.08 billion. On average, sell-side analysts predict that Hershey Co will post 5.37 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Wednesday, November 21st will be given a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date of this dividend is Tuesday, November 20th. Hershey’s dividend payout ratio is presently 60.71%.

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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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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