Todays Report: The Smithfield Trust Co. Continues to Hold Position in Hershey Co. (HSY)

The Smithfield Trust Co. Continues to Hold Position in Hershey Co. (HSY)

Smithfield Trust Co. maintained its stake in shares of Hershey Co. (NYSE:HSY) during the second quarter, Holdings Channel reports. The institutional investor owned 4,034 shares of the company’s stock at the end of the second quarter. Smithfield Trust Co.’s holdings in Hershey were worth $458,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. 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 during the last quarter. Kornitzer Capital Management Inc. KS boosted its stake in shares of Hershey by 4.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 10,150 shares of the company’s stock worth $1,152,000 after buying an additional 400 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Hershey by 12.9% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 493,039 shares of the company’s stock worth $55,955,000 after buying an additional 56,469 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Hershey by 514.9% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 69,604 shares of the company’s stock worth $7,899,000 after buying an additional 58,285 shares during the last quarter. Finally, SL Advisors LLC acquired a new stake in shares of Hershey during the second quarter worth approximately $1,185,000. Institutional investors own 53.11% of the company’s stock.

Shares of Hershey Co. (NYSE:HSY) traded up 0.96% during midday trading on Friday, reaching $96.57. 923,738 shares of the company’s stock were exchanged. Hershey Co. has a 12-month low of $82.42 and a 12-month high of $117.79. The stock’s 50 day moving average is $97.63 and its 200-day moving average is $99.15. The stock has a market cap of $20.59 billion, a PE ratio of 28.28 and a beta of 0.23.

Hershey (NYSE:HSY) last released its earnings results on Thursday, July 28th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.78 by $0.07. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The firm had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same quarter in the previous year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts expect that Hershey Co. will post $4.26 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, August 25th were issued a $0.618 dividend. This represents a $2.47 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Tuesday, August 23rd. This is an increase from Hershey’s previous quarterly dividend of $0.58. Hershey’s payout ratio is 72.22%.

Several analysts have issued reports on the stock. Vetr upgraded shares of Hershey from a “buy” rating to a “strong-buy” rating and set a $110.00 target price on the stock in a research note on Thursday, September 8th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $100.00 target price on shares of Hershey in a research note on Tuesday, September 6th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $112.00 target price on shares of Hershey in a research note on Tuesday, August 30th. Bank of America Corp. assumed coverage on shares of Hershey in a research note on Tuesday, August 30th. They issued an “underperform” rating and a $100.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a research note on Monday, August 1st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Hershey presently has a consensus rating of “Hold” and a consensus target price of $100.50.

In other news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $111.41, for a total value of $122,551.00. Following the transaction, the senior vice president now owns 27,188 shares of the company’s stock, valued at $3,029,015.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.68% of the stock is currently owned by insiders.

About Hershey

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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