Hershey Co. (HSY) SVP Leslie M. Turner Sells 40,128 Shares
Hershey Co. (NYSE:HSY) SVP Leslie M. Turner sold 40,128 shares of the stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $102.22, for a total transaction of $4,101,884.16. Following the transaction, the senior vice president now owns 91,622 shares in the company, valued at $9,365,600.84. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Hershey Co. (NYSE:HSY) opened at 100.46 on Thursday. The firm has a market cap of $21.32 billion, a P/E ratio of 26.61 and a beta of 0.32. The stock has a 50 day moving average of $96.97 and a 200 day moving average of $100.08. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79.
Hershey (NYSE:HSY) last released its quarterly earnings data on Friday, October 28th. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.19 by $0.10. The company earned $2 billion during the quarter, compared to the consensus estimate of $1.15 billion. Hershey had a return on equity of 102.75% and a net margin of 11.07%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.17 EPS. Analysts anticipate that Hershey Co. will post $4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 23rd will be issued a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend is Monday, November 21st. Hershey’s payout ratio is presently 65.34%.
Several large investors have recently added to or reduced their stakes in the stock. Orrstown Financial Services Inc. boosted its stake in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares during the period. NEXT Financial Group Inc boosted its stake in Hershey by 69.9% in the third quarter. NEXT Financial Group Inc now owns 1,225 shares of the company’s stock worth $117,000 after buying an additional 504 shares during the period. Grisanti Capital Management LLC acquired a new stake in Hershey during the second quarter worth $138,000. Global X Management Co. LLC boosted its stake in Hershey by 84.9% in the third quarter. Global X Management Co. LLC now owns 1,551 shares of the company’s stock worth $148,000 after buying an additional 712 shares during the period. Finally, Hirtle Callaghan & Co LLC boosted its stake in Hershey by 245.5% in the third quarter. Hirtle Callaghan & Co LLC now owns 1,548 shares of the company’s stock worth $148,000 after buying an additional 1,100 shares during the period. 53.04% of the stock is owned by institutional investors.
HSY has been the topic of a number of recent research reports. Vetr upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $114.32 price target on the stock in a research report on Wednesday, July 13th. Zacks Investment Research cut shares of Hershey from a “hold” rating to a “sell” rating in a report on Wednesday, July 13th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and issued a $99.00 price objective (up previously from $89.00) on shares of Hershey in a report on Friday, July 15th. Credit Suisse Group AG reissued a “hold” rating and set a $110.00 target price on shares of Hershey in a research note on Thursday, July 21st. Finally, Deutsche Bank AG lowered their target price on shares of Hershey from $105.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, July 26th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $101.81.
Hershey Company Profile
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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