SevenBridge Financial Group LLC Has $1,498,000 Position in Hershey Co. (HSY)
SevenBridge Financial Group LLC raised its position in shares of Hershey Co. (NYSE:HSY) by 17.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,657 shares of the company’s stock after buying an additional 2,282 shares during the period. Hershey comprises approximately 1.1% of SevenBridge Financial Group LLC’s holdings, making the stock its 25th largest position. SevenBridge Financial Group LLC’s holdings in Hershey were worth $1,498,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Nuveen Asset Management LLC raised its stake in shares of Hershey by 17.5% in the first quarter. Nuveen Asset Management LLC now owns 11,233 shares of the company’s stock worth $1,034,000 after buying an additional 1,673 shares in the last quarter. Seven Eight Capital LLC acquired a new stake in shares of Hershey during the first quarter worth $405,000. Royal Bank of Canada raised its stake in shares of Hershey by 0.7% in the first quarter. Royal Bank of Canada now owns 371,929 shares of the company’s stock worth $34,251,000 after buying an additional 2,672 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Hershey during the first quarter worth $697,000. Finally, First Republic Investment Management Inc. raised its stake in shares of Hershey by 38.6% in the first quarter. First Republic Investment Management Inc. now owns 61,974 shares of the company’s stock worth $5,707,000 after buying an additional 17,250 shares in the last quarter. 50.70% of the stock is currently owned by institutional investors.
Hershey Co. (NYSE:HSY) traded up 0.11% during mid-day trading on Monday, hitting $97.84. The stock had a trading volume of 931,433 shares. The stock has a market cap of $20.76 billion, a PE ratio of 25.92 and a beta of 0.32. Hershey Co. has a one year low of $82.42 and a one year high of $117.79. The firm’s 50-day moving average is $97.99 and its 200 day moving average is $100.72.
Hershey (NYSE:HSY) last issued its earnings results on Friday, October 28th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.10. The firm earned $2 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Hershey had a net margin of 11.07% and a return on equity of 102.75%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm posted $1.17 earnings per share. Equities research analysts expect that Hershey Co. will post $4.31 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 23rd will be issued a dividend of $0.618 per share. This represents a $2.47 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, November 21st. Hershey’s payout ratio is 65.34%.
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A number of equities research analysts have weighed in on HSY shares. Zacks Investment Research raised Hershey from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Vetr raised Hershey from a “hold” rating to a “buy” rating and set a $115.74 price target on the stock in a research note on Wednesday, August 24th. Bank of America Corp. assumed coverage on Hershey in a research note on Tuesday, August 30th. They set an “underperform” rating and a $100.00 price target on the stock. Credit Suisse Group AG reissued a “neutral” rating and set a $112.00 price target on shares of Hershey in a research note on Tuesday, August 30th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and set a $100.00 price target on shares of Hershey in a research note on Tuesday, September 6th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $101.81.
In related news, VP Javier H. Idrovo sold 6,448 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $100.00, for a total transaction of $644,800.00. Following the completion of the sale, the vice president now directly owns 34,396 shares in the company, valued at $3,439,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP D Michael Wege sold 1,100 shares of the firm’s stock in a transaction that occurred 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 owns 26,988 shares of the company’s stock, valued at $2,601,643.20. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.
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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