Employers Holdings Inc. Takes Position in Hershey Co (NYSE:HSY)

Employers Holdings Inc. bought a new position in shares of Hershey Co (NYSE:HSY) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,749 shares of the company’s stock, valued at approximately $1,575,000.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in shares of Hershey by 23.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 634,859 shares of the company’s stock worth $68,042,000 after purchasing an additional 120,051 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hershey by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock valued at $234,317,000 after acquiring an additional 249,155 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Hershey during the first quarter valued at approximately $200,000. Retirement Systems of Alabama increased its holdings in shares of Hershey by 1.0% during the first quarter. Retirement Systems of Alabama now owns 117,093 shares of the company’s stock valued at $13,446,000 after acquiring an additional 1,190 shares in the last quarter. Finally, IFM Investors Pty Ltd increased its holdings in shares of Hershey by 12.1% during the first quarter. IFM Investors Pty Ltd now owns 9,532 shares of the company’s stock valued at $1,095,000 after acquiring an additional 1,031 shares in the last quarter. 53.89% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE HSY traded up $0.19 during trading on Friday, reaching $155.69. 117,152 shares of the stock traded hands, compared to its average volume of 1,353,090. The company has a 50-day moving average of $145.46 and a 200-day moving average of $126.52. The stock has a market capitalization of $32.61 billion, a P/E ratio of 29.05, a price-to-earnings-growth ratio of 3.38 and a beta of 0.09. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.88 and a quick ratio of 0.48. Hershey Co has a 52-week low of $98.50 and a 52-week high of $156.69.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 25th. The company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.13. The business had revenue of $1.77 billion for the quarter, compared to analysts’ expectations of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.14 EPS. Analysts expect that Hershey Co will post 5.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Friday, August 23rd will be paid a $0.773 dividend. This is a positive change from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, August 22nd. Hershey’s dividend payout ratio is currently 53.92%.

HSY has been the subject of several recent research reports. ValuEngine upgraded Hershey from a “hold” rating to a “buy” rating in a report on Thursday, April 25th. Stifel Nicolaus upped their price objective on Hershey from $132.00 to $145.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Evercore ISI initiated coverage on Hershey in a research note on Tuesday, June 11th. They issued an “in-line” rating and a $145.00 price objective for the company. BMO Capital Markets upped their price objective on Hershey to $133.00 and gave the company a “market perform” rating in a research note on Friday, July 26th. Finally, Bank of America restated a “buy” rating and issued a $165.00 price objective (up previously from $152.00) on shares of Hershey in a research note on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the stock. Hershey has an average rating of “Hold” and an average price target of $138.71.

In other news, SVP Kevin R. Walling sold 36,132 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $135.17, for a total transaction of $4,883,962.44. Following the transaction, the senior vice president now directly owns 62,997 shares in the company, valued at approximately $8,515,304.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 524,260 shares of the stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $129.14, for a total value of $67,702,936.40. Following the transaction, the insider now owns 473,052 shares in the company, valued at $61,089,935.28. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 3,100 shares of company stock worth $401,990 and sold 661,336 shares worth $86,643,260. 0.41% of the stock is owned by corporate insiders.

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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