Hershey Co (HSY) Shares Bought by AMG National Trust Bank
AMG National Trust Bank grew its holdings in Hershey Co (NYSE:HSY) by 5.3% in the fourth quarter, HoldingsChannel reports. The firm owned 38,470 shares of the company’s stock after purchasing an additional 1,943 shares during the period. AMG National Trust Bank’s holdings in Hershey were worth $4,367,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in HSY. Dimensional Fund Advisors LP lifted its holdings in shares of Hershey by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 314,228 shares of the company’s stock valued at $33,738,000 after purchasing an additional 9,597 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Hershey in the second quarter valued at $408,000. Advisory Services Network LLC lifted its holdings in shares of Hershey by 15.9% in the second quarter. Advisory Services Network LLC now owns 5,019 shares of the company’s stock valued at $539,000 after purchasing an additional 689 shares in the last quarter. WFG Advisors LP lifted its holdings in shares of Hershey by 25.2% in the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock valued at $107,000 after purchasing an additional 201 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its holdings in shares of Hershey by 104.2% in the second quarter. Achmea Investment Management B.V. now owns 33,053 shares of the company’s stock valued at $3,547,000 after purchasing an additional 16,864 shares in the last quarter. Institutional investors own 51.76% of the company’s stock.
In other Hershey news, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total transaction of $45,980.00. Following the transaction, the insider now directly owns 164,097 shares in the company, valued at $18,862,950.15. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 1,200 shares of company stock worth $133,800. Corporate insiders own 0.92% of the company’s stock.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, February 1st. The company reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.03). Hershey had a return on equity of 116.74% and a net margin of 10.42%. The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business posted $1.17 earnings per share. Hershey’s revenue was down 1.5% on a year-over-year basis. analysts predict that Hershey Co will post 5.36 EPS for the current year.
Hershey declared that its board has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.656 per share. The ex-dividend date of this dividend is Thursday, February 22nd. This represents a $2.62 annualized dividend and a yield of 2.65%. Hershey’s dividend payout ratio (DPR) is currently 71.58%.
A number of research firms have recently issued reports on HSY. JPMorgan Chase & Co. began coverage on Hershey in a report on Wednesday. They issued a “neutral” rating and a $106.00 target price for the company. Argus reduced their target price on Hershey from $125.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. Barclays reduced their target price on Hershey from $110.00 to $107.00 and set an “equal weight” rating for the company in a report on Friday, February 2nd. Morgan Stanley reduced their target price on Hershey from $105.00 to $100.00 and set an “underweight” rating for the company in a report on Friday, February 2nd. Finally, Credit Suisse Group lowered Hershey from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $129.00 to $115.00 in a report on Friday, February 2nd. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $110.84.
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The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.
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