Hendley & Co. Inc. reduced its stake in shares of Hershey Co (NYSE:HSY) by 57.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,853 shares of the company’s stock after selling 25,506 shares during the quarter. Hershey makes up 1.4% of Hendley & Co. Inc.’s holdings, making the stock its 27th largest position. Hendley & Co. Inc.’s holdings in Hershey were worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Krane Funds Advisors LLC acquired a new stake in Hershey during the second quarter worth about $25,000. Berman Capital Advisors LLC grew its holdings in Hershey by 172.8% during the second quarter. Berman Capital Advisors LLC now owns 221 shares of the company’s stock worth $28,000 after acquiring an additional 140 shares during the period. Country Trust Bank purchased a new position in Hershey during the third quarter worth approximately $30,000. Adirondack Trust Co. purchased a new position in Hershey during the third quarter worth approximately $31,000. Finally, First Interstate Bank purchased a new position in Hershey during the second quarter worth approximately $38,000. Hedge funds and other institutional investors own 53.68% of the company’s stock.

In related news, CEO Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $155.13, for a total transaction of $232,695.00. Following the transaction, the chief executive officer now owns 155,429 shares in the company, valued at $24,111,700.77. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Hershey Trust Co sold 3,100 shares of Hershey stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $158.38, for a total value of $490,978.00. Following the transaction, the insider now owns 83,230 shares in the company, valued at approximately $13,181,967.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 45,177 shares of company stock worth $6,967,255. 0.41% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on the company. Wells Fargo & Co increased their price target on Hershey from $112.00 to $130.00 and gave the stock a “market perform” rating in a research report on Tuesday, July 23rd. They noted that the move was a valuation call. Goldman Sachs Group upgraded Hershey from a “sell” rating to a “neutral” rating and increased their price target for the stock from $86.00 to $142.00 in a research report on Wednesday, July 17th. Citigroup increased their price target on Hershey from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Thursday, July 18th. ValuEngine downgraded Hershey from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Piper Jaffray Companies downgraded Hershey from a “neutral” rating to an “underweight” rating and increased their price target for the stock from $122.00 to $125.00 in a research report on Wednesday, June 19th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $141.93.

Shares of NYSE HSY traded down $0.10 during midday trading on Wednesday, hitting $152.44. The stock had a trading volume of 93,947 shares, compared to its average volume of 1,034,182. The company has a market capitalization of $32.55 billion, a PE ratio of 28.44, a P/E/G ratio of 3.69 and a beta of 0.07. The stock has a 50 day simple moving average of $155.49 and a 200-day simple moving average of $139.95. Hershey Co has a 1 year low of $99.15 and a 1 year high of $162.20. The company has a quick ratio of 0.48, a current ratio of 0.88 and a debt-to-equity ratio of 1.71.

Hershey (NYSE:HSY) last released its earnings results on Thursday, July 25th. The company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.13. Hershey had a return on equity of 83.29% and a net margin of 15.51%. The business had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter last year, the business posted $1.14 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. As a group, analysts expect that Hershey Co will post 5.74 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 23rd were given a dividend of $0.773 per share. This is an increase from Hershey’s previous quarterly dividend of $0.72. The ex-dividend date was Thursday, August 22nd. This represents a $3.09 dividend on an annualized basis and a yield of 2.03%. Hershey’s dividend payout ratio (DPR) is presently 57.65%.

Hershey Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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