Troy Asset Management Ltd Has $5.74 Million Position in Hershey Co (HSY)

Troy Asset Management Ltd boosted its position in shares of Hershey Co (NYSE:HSY) by 8.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 50,000 shares of the company’s stock after acquiring an additional 4,000 shares during the period. Hershey makes up approximately 0.3% of Troy Asset Management Ltd’s portfolio, making the stock its 29th largest position. Troy Asset Management Ltd’s holdings in Hershey were worth $5,742,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HSY. Oregon Public Employees Retirement Fund grew its position in Hershey by 10,179.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock valued at $32,000 after buying an additional 3,423,036 shares during the period. Norges Bank purchased a new position in Hershey during the fourth quarter valued at $142,502,000. BlackRock Inc. lifted its holdings in Hershey by 8.4% during the fourth quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock valued at $1,475,299,000 after purchasing an additional 1,070,632 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Hershey by 51.2% during the third quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock valued at $203,829,000 after purchasing an additional 676,300 shares in the last quarter. Finally, FMR LLC lifted its holdings in Hershey by 9.8% during the fourth quarter. FMR LLC now owns 6,142,122 shares of the company’s stock valued at $658,314,000 after purchasing an additional 550,341 shares in the last quarter. Institutional investors own 52.51% of the company’s stock.

Shares of NYSE:HSY traded up $2.73 during midday trading on Friday, hitting $125.17. The company’s stock had a trading volume of 1,948,136 shares, compared to its average volume of 927,582. The company has a current ratio of 0.92, a quick ratio of 0.60 and a debt-to-equity ratio of 2.27. The company has a market cap of $26.10 billion, a P/E ratio of 23.35, a P/E/G ratio of 2.61 and a beta of 0.15. Hershey Co has a 12-month low of $89.10 and a 12-month high of $126.11.

Hershey (NYSE:HSY) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.48 by $0.11. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The company’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the firm posted $1.41 earnings per share. On average, analysts expect that Hershey Co will post 5.67 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be paid a $0.722 dividend. This represents a $2.89 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Thursday, May 23rd. Hershey’s dividend payout ratio is currently 53.92%.

Several equities analysts have issued reports on HSY shares. ValuEngine downgraded shares of Hershey from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Zacks Investment Research raised shares of Hershey from a “hold” rating to a “buy” rating and set a $118.00 price objective on the stock in a report on Monday, December 31st. UBS Group set a $100.00 price objective on shares of Hershey and gave the company a “sell” rating in a report on Friday. BMO Capital Markets increased their price objective on shares of Hershey from $93.00 to $108.00 and gave the company a “market perform” rating in a report on Friday. Finally, Credit Suisse Group set a $123.00 price objective on shares of Hershey and gave the company a “hold” rating in a report on Friday. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $111.00.

In other news, insider Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $109.59, for a total value of $164,385.00. Following the transaction, the insider now directly owns 166,056 shares of the company’s stock, valued at $18,198,077.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Javier H. Idrovo sold 7,385 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was sold at an average price of $120.00, for a total transaction of $886,200.00. Following the completion of the transaction, the vice president now directly owns 33,336 shares in the company, valued at $4,000,320. The disclosure for this sale can be found here. Over the last three months, insiders sold 49,178 shares of company stock worth $5,548,900. Insiders own 0.87% of the company’s stock.

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About Hershey

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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