US Bancorp DE Reduces Holdings in Hershey Co (HSY)

US Bancorp DE reduced its position in Hershey Co (NYSE:HSY) by 8.4% during the 2nd quarter, Holdings Channel reports. The firm owned 105,354 shares of the company’s stock after selling 9,690 shares during the quarter. US Bancorp DE’s holdings in Hershey were worth $9,804,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. FTB Advisors Inc. increased its position in Hershey by 108.4% in the 2nd quarter. FTB Advisors Inc. now owns 1,167 shares of the company’s stock worth $107,000 after purchasing an additional 607 shares during the last quarter. Farmers & Merchants Trust Co of Chambersburg PA acquired a new position in shares of Hershey during the 2nd quarter valued at about $121,000. Piedmont Investment Advisors LLC acquired a new position in shares of Hershey during the 2nd quarter valued at about $148,000. Cerebellum GP LLC acquired a new position in shares of Hershey during the 2nd quarter valued at about $179,000. Finally, Private Capital Group LLC increased its holdings in shares of Hershey by 55.8% during the 1st quarter. Private Capital Group LLC now owns 1,869 shares of the company’s stock valued at $185,000 after acquiring an additional 669 shares during the last quarter. 52.68% of the stock is currently owned by institutional investors.

Shares of NYSE:HSY opened at $99.77 on Monday. Hershey Co has a twelve month low of $89.10 and a twelve month high of $115.82. The company has a market cap of $20.88 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.13 and a beta of 0.32. The company has a quick ratio of 0.58, a current ratio of 0.94 and a debt-to-equity ratio of 3.05.

Hershey (NYSE:HSY) last announced its earnings results on Thursday, July 26th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.04. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter in the prior year, the company earned $1.09 EPS. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. equities research analysts forecast that Hershey Co will post 5.36 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Investors of record on Friday, August 24th will be paid a dividend of $0.722 per share. This is an increase from Hershey’s previous quarterly dividend of $0.66. The ex-dividend date is Thursday, August 23rd. This represents a $2.89 annualized dividend and a yield of 2.89%. Hershey’s dividend payout ratio is presently 60.71%.

In related news, insider Michele Buck sold 1,500 shares of the stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $92.26, for a total transaction of $138,390.00. Following the completion of the sale, the insider now owns 175,394 shares in the company, valued at approximately $16,181,850.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Kevin R. Walling sold 30,835 shares of the stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $101.18, for a total value of $3,119,885.30. Following the sale, the senior vice president now owns 57,611 shares of the company’s stock, valued at approximately $5,829,080.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,835 shares of company stock valued at $3,411,125. 0.87% of the stock is owned by corporate insiders.

A number of research analysts have recently commented on HSY shares. Argus lowered Hershey from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Hershey from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Credit Suisse Group lowered Hershey from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $90.00 to $80.00 in a report on Wednesday, June 13th. Consumer Edge lowered Hershey from an “overweight” rating to an “equal weight” rating in a report on Monday, July 9th. Finally, Stifel Nicolaus increased their price objective on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a report on Friday, July 27th. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $102.35.

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.

Featured Article: Trading Strategy Methods and Types

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Co (NYSE:HSY).

Institutional Ownership by Quarter for Hershey (NYSE:HSY)

Receive News & Ratings for Hershey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hershey and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply