Hershey Trust Co Trustee In Tr Acquires 49,500 Shares of Hershey Co. (HSY) Stock
Hershey Co. (NYSE:HSY) major shareholder Hershey Trust Co Trustee In Tr acquired 49,500 shares of the business’s stock in a transaction dated Monday, November 7th. The stock was acquired at an average price of $101.60 per share, with a total value of $5,029,200.00. Following the completion of the transaction, the insider now directly owns 12,753,421 shares of the company’s stock, valued at $1,295,747,573.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Hershey Co. (NYSE:HSY) opened at 97.27 on Friday. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79. The company has a 50 day moving average price of $97.00 and a 200 day moving average price of $100.06. The stock has a market cap of $20.64 billion, a P/E ratio of 25.77 and a beta of 0.32.
Hershey (NYSE:HSY) last released its quarterly earnings data on Friday, October 28th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.10. Hershey had a return on equity of 102.75% and a net margin of 11.07%. The firm earned $2 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the business posted $1.17 EPS. Hershey’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts anticipate that Hershey Co. will post $4.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be given a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 2.54%. The ex-dividend date is Monday, November 21st. Hershey’s payout ratio is 65.34%.
A number of research firms have recently commented on HSY. Deutsche Bank AG cut their price objective on Hershey from $105.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, July 26th. Zacks Investment Research upgraded Hershey from a “sell” rating to a “hold” rating in a research report on Monday, August 1st. RBC Capital Markets restated a “sector perform” rating and issued a $105.00 price objective (up from $92.00) on shares of Hershey in a research report on Wednesday, July 27th. Vetr cut Hershey from a “strong-buy” rating to a “buy” rating and set a $108.33 price objective for the company. in a research report on Tuesday, September 6th. Finally, Stifel Nicolaus boosted their price objective on Hershey from $94.00 to $97.00 and gave the company a “hold” rating in a research report on Monday, October 31st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. Hershey currently has an average rating of “Hold” and a consensus price target of $101.81.
Institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management LLC increased its position in Hershey by 1.2% in the second quarter. Janus Capital Management LLC now owns 7,809,075 shares of the company’s stock valued at $886,221,000 after buying an additional 95,764 shares during the last quarter. Capital World Investors increased its position in Hershey by 11.6% in the second quarter. Capital World Investors now owns 4,800,000 shares of the company’s stock valued at $544,752,000 after buying an additional 500,000 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in Hershey by 3.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 4,271,211 shares of the company’s stock valued at $408,328,000 after buying an additional 130,250 shares during the last quarter. BlackRock Fund Advisors increased its position in Hershey by 2.6% in the third quarter. BlackRock Fund Advisors now owns 3,697,023 shares of the company’s stock valued at $353,435,000 after buying an additional 94,543 shares during the last quarter. Finally, BlackRock Group LTD increased its position in Hershey by 15.0% in the second quarter. BlackRock Group LTD now owns 1,894,373 shares of the company’s stock valued at $214,992,000 after buying an additional 247,521 shares during the last quarter. 53.04% of the stock is owned by institutional investors.
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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