Horizon Investments LLC grew its position in The Hershey Company (NYSE:HSY – Get Rating) by 2.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,584 shares of the company’s stock after buying an additional 88 shares during the quarter. Horizon Investments LLC’s holdings in Hershey were worth $993,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Hershey by 1.6% during the first quarter. Vanguard Group Inc. now owns 14,057,990 shares of the company’s stock worth $3,045,383,000 after purchasing an additional 216,715 shares during the last quarter. BlackRock Inc. boosted its stake in Hershey by 0.9% in the first quarter. BlackRock Inc. now owns 13,432,299 shares of the company’s stock valued at $2,909,840,000 after buying an additional 113,504 shares in the last quarter. State Street Corp grew its position in Hershey by 1.3% in the fourth quarter. State Street Corp now owns 7,315,013 shares of the company’s stock valued at $1,415,236,000 after acquiring an additional 92,673 shares during the last quarter. Geode Capital Management LLC raised its stake in Hershey by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 2,992,510 shares of the company’s stock worth $577,810,000 after acquiring an additional 62,489 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Hershey by 6.2% in the fourth quarter. Invesco Ltd. now owns 1,539,336 shares of the company’s stock worth $297,814,000 after acquiring an additional 90,251 shares during the last quarter. Institutional investors own 54.28% of the company’s stock.
Insider Buying and Selling at Hershey
In other news, SVP Jason Reiman sold 150 shares of the company’s stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $220.49, for a total transaction of $33,073.50. Following the transaction, the senior vice president now directly owns 16,167 shares of the company’s stock, valued at $3,564,661.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Jason Reiman sold 150 shares of the business’s stock in a transaction dated Thursday, July 7th. The shares were sold at an average price of $220.49, for a total transaction of $33,073.50. Following the completion of the sale, the senior vice president now directly owns 16,167 shares of the company’s stock, valued at $3,564,661.83. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Hershey Trust Co Trustee In Tr sold 167,095 shares of the company’s stock in a transaction dated Thursday, July 28th. The stock was sold at an average price of $222.40, for a total transaction of $37,161,928.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 856,288 shares of company stock valued at $188,801,430. Company insiders own 0.34% of the company’s stock.
Wall Street Analyst Weigh In
Hershey Price Performance
Hershey stock opened at $226.25 on Monday. The stock’s 50 day moving average is $224.44 and its 200 day moving average is $218.49. The firm has a market cap of $46.38 billion, a P/E ratio of 28.79, a P/E/G ratio of 3.60 and a beta of 0.34. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.74 and a quick ratio of 0.37. The Hershey Company has a one year low of $167.80 and a one year high of $234.56.
Hershey (NYSE:HSY – Get Rating) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.11. The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.24 billion. Hershey had a net margin of 16.76% and a return on equity of 60.62%. The business’s revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 earnings per share. As a group, research analysts expect that The Hershey Company will post 8.21 EPS for the current year.
Hershey Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 19th will be issued a $1.036 dividend. The ex-dividend date is Thursday, August 18th. This represents a $4.14 annualized dividend and a yield of 1.83%. This is a positive change from Hershey’s previous quarterly dividend of $0.90. Hershey’s dividend payout ratio is presently 52.67%.
The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, meat snacks, bars and snack bites, mixes, popcorn, and protein bars.
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