US Bancorp DE Has $12,016,000 Position in Hershey Co. (HSY)
US Bancorp DE raised its position in shares of Hershey Co. (NYSE:HSY) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 125,690 shares of the company’s stock after buying an additional 3,267 shares during the period. US Bancorp DE owned 0.06% of Hershey worth $12,016,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HSY. Hudock Capital Group LLC increased its position in Hershey by 0.4% in the third quarter. Hudock Capital Group LLC now owns 2,566 shares of the company’s stock worth $245,000 after buying an additional 10 shares during the period. Kanawha Capital Management LLC boosted its stake in shares of Hershey by 0.4% in the second quarter. Kanawha Capital Management LLC now owns 3,411 shares of the company’s stock worth $387,000 after buying an additional 13 shares in the last quarter. Orrstown Financial Services Inc. boosted its stake in shares of 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 in the last quarter. Conning Inc. boosted its stake in shares of Hershey by 0.5% in the third quarter. Conning Inc. now owns 3,940 shares of the company’s stock worth $377,000 after buying an additional 20 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Hershey by 1.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,205 shares of the company’s stock worth $364,000 after buying an additional 40 shares in the last quarter. 50.70% of the stock is owned by institutional investors and hedge funds.
Shares of Hershey Co. (NYSE:HSY) traded up 0.84% during midday trading on Tuesday, hitting $98.66. 501,024 shares of the company traded hands. Hershey Co. has a 52 week low of $82.42 and a 52 week high of $117.79. The stock has a market capitalization of $20.94 billion, a PE ratio of 26.14 and a beta of 0.32. The stock has a 50 day moving average of $97.99 and a 200-day moving average of $100.72.
Hershey (NYSE:HSY) last issued its earnings results on Friday, October 28th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.10. Hershey had a net margin of 11.07% and a return on equity of 102.75%. The firm had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $1.17 earnings per share. The business’s revenue was up 2.2% on a year-over-year basis. Equities analysts forecast that Hershey Co. will post $4.31 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 23rd will be paid a $0.618 dividend. This represents a $2.47 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Monday, November 21st. Hershey’s payout ratio is 65.34%.
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A number of analysts have commented on HSY shares. Vetr upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $115.74 price target for the company in a research note on Wednesday, August 24th. Citigroup Inc. upgraded shares of Hershey from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $110.00 in a research note on Thursday, October 27th. Deutsche Bank AG reiterated a “hold” rating on shares of Hershey in a research note on Friday, October 21st. Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Finally, Stifel Nicolaus increased their price target on shares of Hershey from $94.00 to $97.00 and gave the company a “hold” rating in a research note on Monday, October 31st. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $101.81.
In other Hershey news, SVP D Michael Wege sold 1,100 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 26,988 shares of the company’s stock, valued at $2,601,643.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michele Buck sold 4,000 shares of the firm’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $103.00, for a total value of $412,000.00. Following the transaction, the chief operating officer now directly owns 159,210 shares of the company’s stock, valued at approximately $16,398,630. The disclosure for this sale can be found here. Company 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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