Chevy Chase Trust Holdings Inc. decreased its stake in Hershey Co. (NYSE:HSY) by 2.3% during the third quarter, Holdings Channel reports. The fund owned 121,126 shares of the company’s stock after selling 2,907 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Hershey were worth $11,580,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in HSY. Orrstown Financial Services Inc. boosted its stake in Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock valued at $107,000 after buying an additional 20 shares during the last quarter. Grisanti Capital Management LLC purchased a new stake in Hershey during the second quarter valued at about $138,000. First Personal Financial Services purchased a new stake in Hershey during the second quarter valued at about $150,000. Van ECK Associates Corp boosted its stake in Hershey by 8.3% in the second quarter. Van ECK Associates Corp now owns 1,408 shares of the company’s stock valued at $160,000 after buying an additional 108 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC purchased a new stake in Hershey during the second quarter valued at about $201,000. 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 stock were exchanged. The company has a market cap of $20.74 billion, a price-to-earnings ratio of 25.89 and a beta of 0.32. The firm has a 50 day moving average of $97.91 and a 200-day moving average of $100.57. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79.
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 Zacks’ consensus estimate of $1.19 by $0.10. Hershey had a return on equity of 102.75% and a net margin of 11.07%. The business earned $2 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter in the previous year, the business earned $1.17 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts forecast that Hershey Co. will post $4.31 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be issued a $0.618 dividend. 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 dividend payout ratio is presently 65.34%.
HSY has been the subject of several research analyst reports. Vetr raised shares of Hershey from a “hold” rating to a “strong-buy” rating and set a $112.59 target price for the company in a research note on Wednesday, August 31st. Deutsche Bank AG reaffirmed a “hold” rating on shares of Hershey in a research note on Friday, October 21st. Sanford C. Bernstein reissued a “market perform” rating and issued a $98.00 price objective on shares of Hershey in a research note on Wednesday, October 26th. BMO Capital Markets reissued a “neutral” rating on shares of Hershey in a research note on Friday, July 29th. Finally, Stifel Nicolaus raised their price objective 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 investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company’s stock. Hershey currently has an average rating of “Hold” and an average target price of $101.81.
In other Hershey news, VP Javier H. Idrovo sold 6,448 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $100.00, for a total value of $644,800.00. Following the completion of the transaction, the vice president now owns 34,396 shares in the company, valued at approximately $3,439,600. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Leslie M. Turner sold 40,128 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $102.22, for a total value of $4,101,884.16. Following the completion of the transaction, the senior vice president now owns 91,622 shares of the company’s stock, valued at approximately $9,365,600.84. The disclosure for this sale can be found here. 0.68% of the stock is owned by company insiders.
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.