Toronto Dominion Bank lifted its holdings in shares of Hershey Co (NYSE:HSY) by 66.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 167,110 shares of the company’s stock after purchasing an additional 66,722 shares during the quarter. Toronto Dominion Bank owned approximately 0.08% of Hershey worth $22,392,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of HSY. Impax Asset Management Group plc grew its position in Hershey by 0.7% in the 2nd quarter. Impax Asset Management Group plc now owns 41,678 shares of the company’s stock worth $5,586,000 after purchasing an additional 286 shares during the last quarter. Haverford Trust Co. increased its position in Hershey by 64.4% in the 2nd quarter. Haverford Trust Co. now owns 3,704 shares of the company’s stock valued at $496,000 after acquiring an additional 1,451 shares in the last quarter. Ossiam increased its position in Hershey by 9.4% in the 2nd quarter. Ossiam now owns 85,086 shares of the company’s stock valued at $11,404,000 after acquiring an additional 7,303 shares in the last quarter. Cibc World Markets Corp grew its position in shares of Hershey by 53.5% during the 2nd quarter. Cibc World Markets Corp now owns 173,195 shares of the company’s stock worth $23,213,000 after buying an additional 60,375 shares during the period. Finally, Meadow Creek Investment Management LLC grew its position in shares of Hershey by 94.5% during the 2nd quarter. Meadow Creek Investment Management LLC now owns 51,850 shares of the company’s stock worth $6,950,000 after buying an additional 25,194 shares during the period. Institutional investors and hedge funds own 53.60% of the company’s stock.
HSY has been the subject of a number of analyst reports. UBS Group upgraded shares of Hershey from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $100.00 to $145.00 in a report on Monday, July 22nd. Wells Fargo & Co boosted their price objective on shares of Hershey from $112.00 to $130.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. BMO Capital Markets upped their price target on shares of Hershey to $133.00 and gave the stock a “market perform” rating in a research report on Friday, July 26th. Finally, Goldman Sachs Group upgraded shares of Hershey from a “sell” rating to a “neutral” rating and upped their price objective for the company from $86.00 to $142.00 in a report on Wednesday, July 17th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Hershey has a consensus rating of “Hold” and a consensus price target of $138.71.
Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 25th. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.13. The company had revenue of $1.77 billion during the quarter, compared to the consensus estimate of $1.77 billion. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.14 earnings per share. Analysts predict that Hershey Co will post 5.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 23rd will be issued a dividend of $0.773 per share. This is an increase from Hershey’s previous quarterly dividend of $0.72. This represents a $3.09 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, August 22nd. Hershey’s dividend payout ratio is presently 57.65%.
In other news, SVP Terence L. O’day sold 69,444 shares of the firm’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $137.30, for a total value of $9,534,661.20. Following the transaction, the senior vice president now owns 45,388 shares of the company’s stock, valued at $6,231,772.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The stock was sold at an average price of $138.57, for a total value of $207,855.00. Following the completion of the transaction, the chief executive officer now directly owns 158,429 shares in the company, valued at approximately $21,953,506.53. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 93,044 shares of company stock worth $13,146,029. Corporate insiders own 0.41% of the company’s stock.
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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