Hershey Co. (HSY) Position Lowered by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. lowered its position in shares of Hershey Co. (NYSE:HSY) by 2.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 121,126 shares of the company’s stock after selling 2,907 shares during the period. Chevy Chase Trust Holdings Inc. owned approximately 0.06% of Hershey worth $11,580,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of HSY. Janus Capital Management LLC boosted its stake in Hershey by 1.2% in the second quarter. Janus Capital Management LLC now owns 7,809,075 shares of the company’s stock worth $886,221,000 after buying an additional 95,764 shares during the last quarter. Capital World Investors boosted its stake in shares of 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 in the last quarter. BlackRock Fund Advisors boosted its stake in shares of Hershey by 12.7% in the second quarter. BlackRock Fund Advisors now owns 3,602,480 shares of the company’s stock valued at $408,845,000 after buying an additional 404,828 shares in the last quarter. BlackRock Group LTD boosted its stake in shares of 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 in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Hershey by 446.5% in the second quarter. Alliancebernstein L.P. now owns 1,533,479 shares of the company’s stock valued at $174,034,000 after buying an additional 1,252,894 shares in the last quarter. Hedge funds and other institutional investors own 52.70% of the company’s stock.
Shares of Hershey Co. (NYSE:HSY) traded up 0.59% during trading on Friday, hitting $97.73. 564,405 shares of the company’s stock were exchanged. The company has a 50-day moving average of $97.91 and a 200-day moving average of $100.57. The company has a market cap of $20.74 billion, a P/E ratio of 25.89 and a beta of 0.32. Hershey Co. has a 12-month low of $82.42 and a 12-month 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 business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.15 billion. Hershey had a net margin of 11.07% and a return on equity of 102.75%. The business’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.17 EPS. On average, equities analysts expect that Hershey Co. will post $4.31 earnings per share for the current fiscal year.
The firm 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 2.53%. The ex-dividend date of this dividend is Monday, November 21st. Hershey’s dividend payout ratio (DPR) is currently 65.34%.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group AG restated a “neutral” rating and issued a $112.00 target price on shares of Hershey in a report on Tuesday, August 30th. Bank of America Corp. assumed coverage on shares of Hershey in a report on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 target price on the stock. Vetr cut shares of Hershey from a “buy” rating to a “hold” rating and set a $115.74 target price on the stock. in a report on Tuesday, August 30th. BMO Capital Markets restated a “neutral” rating on shares of Hershey in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $101.81.
In other news, major shareholder Hershey Trust Co Trustee In Tr purchased 49,500 shares of the stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $101.60 per share, with a total value of $5,029,200.00. Following the completion of the acquisition, the insider now owns 12,753,421 shares of the company’s stock, valued at approximately $1,295,747,573.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction on Monday, October 17th. The stock was sold at an average price of $96.40, for a total transaction of $106,040.00. Following the sale, the senior vice president now directly owns 26,988 shares in the company, valued at $2,601,643.20. The disclosure for this sale can be found here. 0.68% of the stock is currently owned by insiders.
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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