First Hawaiian Bank Invests $1.11 Million in Hershey Co (HSY)

First Hawaiian Bank acquired a new stake in Hershey Co (NYSE:HSY) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,863 shares of the company’s stock, valued at approximately $1,108,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC raised its position in Hershey by 42.5% during the 2nd quarter. FMR LLC now owns 5,089,056 shares of the company’s stock worth $473,587,000 after buying an additional 1,518,053 shares during the last quarter. Bank of Montreal Can purchased a new position in Hershey during the 2nd quarter worth approximately $48,331,000. Mawer Investment Management Ltd. purchased a new position in Hershey during the 2nd quarter worth approximately $41,355,000. Morgan Stanley raised its position in Hershey by 52.7% during the 2nd quarter. Morgan Stanley now owns 1,073,758 shares of the company’s stock worth $99,924,000 after buying an additional 370,478 shares during the last quarter. Finally, Millennium Management LLC raised its position in Hershey by 420.4% during the 1st quarter. Millennium Management LLC now owns 341,787 shares of the company’s stock worth $33,823,000 after buying an additional 276,105 shares during the last quarter. 52.67% of the stock is owned by hedge funds and other institutional investors.

In related news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction on Monday, August 20th. The shares were sold at an average price of $101.90, for a total value of $152,850.00. Following the sale, the insider now owns 173,894 shares of the company’s stock, valued at approximately $17,719,798.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Patricia A. Little sold 21,622 shares of Hershey stock in a transaction on Monday, October 8th. The shares were sold at an average price of $106.00, for a total transaction of $2,291,932.00. Following the completion of the sale, the chief financial officer now directly owns 58,708 shares in the company, valued at approximately $6,223,048. The disclosure for this sale can be found here. Insiders have sold a total of 73,046 shares of company stock worth $7,530,564 in the last ninety days. Corporate insiders own 0.92% of the company’s stock.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Hershey from a “hold” rating to a “buy” rating and set a $117.00 price target for the company in a research report on Monday, October 8th. Deutsche Bank set a $110.00 price target on shares of Hershey and gave the stock a “hold” rating in a research report on Friday, September 14th. Credit Suisse Group set a $85.00 price target on shares of Hershey and gave the stock a “sell” rating in a research report on Thursday, September 13th. Piper Jaffray Companies set a $100.00 price target on shares of Hershey and gave the stock a “hold” rating in a research report on Wednesday, August 29th. Finally, ValuEngine raised shares of Hershey from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Five research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $103.39.

Shares of NYSE HSY opened at $106.58 on Friday. The company has a market cap of $21.88 billion, a PE ratio of 21.30, a PEG ratio of 2.23 and a beta of 0.32. Hershey Co has a 12 month low of $89.10 and a 12 month high of $115.82. The company has a debt-to-equity ratio of 3.05, a quick ratio of 0.58 and a current ratio of 0.94.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, July 26th. The company reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.74 billion. Hershey had a net margin of 13.40% and a return on equity of 108.82%. The business’s revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.09 EPS. As a group, analysts forecast that Hershey Co will post 5.36 EPS for the current fiscal year.

About Hershey

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.

Read More: How is the S&P 500 index different from the DJIA?

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