The Hershey Company (NYSE:HSY) Shares Bought by Cooper Financial Group

Cooper Financial Group grew its position in The Hershey Company (NYSE:HSY) by 4.3% in the second quarter, Holdings Channel.com reports. The fund owned 2,070 shares of the company’s stock after buying an additional 86 shares during the period. Cooper Financial Group’s holdings in Hershey were worth $517,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Arlington Partners LLC bought a new position in shares of Hershey in the 1st quarter worth about $27,000. Zions Bancorporation N.A. grew its position in shares of Hershey by 121.3% during the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company’s stock worth $29,000 after acquiring an additional 74 shares during the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Hershey in the 4th quarter worth about $36,000. Kepos Capital LP bought a new stake in Hershey in the 4th quarter valued at about $37,000. Finally, Wellington Shields Capital Management LLC acquired a new position in Hershey during the 1st quarter valued at about $38,000. 56.47% of the stock is owned by institutional investors and hedge funds.

Hershey Trading Up 0.3 %

NYSE:HSY opened at $212.36 on Friday. The stock has a fifty day simple moving average of $225.82 and a 200 day simple moving average of $245.96. The company has a quick ratio of 0.55, a current ratio of 1.06 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $43.42 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 2.57 and a beta of 0.29. The Hershey Company has a 1-year low of $206.69 and a 1-year high of $276.88.

Hershey (NYSE:HSY) last released its earnings results on Thursday, July 27th. The company reported $2.01 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.12. The business had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 16.49% and a return on equity of 55.74%. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same period last year, the firm posted $1.80 earnings per share. Sell-side analysts forecast that The Hershey Company will post 9.55 earnings per share for the current year.

Hershey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 18th were issued a $1.192 dividend. The ex-dividend date was Thursday, August 17th. This represents a $4.77 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Hershey’s previous quarterly dividend of $1.04. Hershey’s dividend payout ratio is presently 54.89%.

Insider Transactions at Hershey

In related news, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the stock in a transaction dated Tuesday, June 20th. The stock was sold at an average price of $260.47, for a total value of $6,271,596.66. Following the completion of the sale, the insider now directly owns 2,114,347 shares of the company’s stock, valued at approximately $550,723,963.09. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Hershey news, major shareholder Hershey Trust Co Trustee In Tr sold 24,078 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were sold at an average price of $260.47, for a total value of $6,271,596.66. Following the transaction, the insider now owns 2,114,347 shares in the company, valued at approximately $550,723,963.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Pamela M. Arway sold 187 shares of Hershey stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $241.66, for a total transaction of $45,190.42. Following the sale, the director now directly owns 15,529 shares of the company’s stock, valued at approximately $3,752,738.14. The disclosure for this sale can be found here. Insiders sold a total of 81,296 shares of company stock valued at $20,782,032 over the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

HSY has been the topic of several analyst reports. TD Cowen assumed coverage on shares of Hershey in a research note on Wednesday. They issued an “outperform” rating and a $250.00 price target on the stock. StockNews.com started coverage on Hershey in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Mizuho decreased their price target on Hershey from $263.00 to $233.00 in a research note on Monday, July 31st. Morgan Stanley cut their price objective on shares of Hershey from $270.00 to $245.00 in a research note on Friday, July 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $252.00 to $249.00 in a report on Wednesday, July 12th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $264.11.

About Hershey

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, bars, snack bites, mixes, popcorn, and pretzels.