State of Tennessee Treasury Department Has $52.73 Million Position in Hershey Company (The) (NYSE:HSY)

State of Tennessee Treasury Department cut its stake in shares of Hershey Company (The) (NYSE:HSY) by 1.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 491,133 shares of the company’s stock after selling 4,828 shares during the quarter. State of Tennessee Treasury Department owned 0.32% of Hershey Company (The) worth $52,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in HSY. QCI Asset Management Inc. NY grew its holdings in shares of Hershey Company (The) by 10.8% during the 2nd quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock valued at $110,000 after purchasing an additional 100 shares during the last quarter. Invictus RG bought a new stake in shares of Hershey Company (The) during the 1st quarter valued at approximately $155,000. Independent Portfolio Consultants Inc. grew its holdings in shares of Hershey Company (The) by 139.5% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,521 shares of the company’s stock valued at $163,000 after purchasing an additional 886 shares during the last quarter. YorkBridge Wealth Partners LLC grew its holdings in shares of Hershey Company (The) by 43.6% during the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock valued at $168,000 after purchasing an additional 475 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new stake in shares of Hershey Company (The) during the 2nd quarter valued at approximately $174,000. 51.39% of the stock is currently owned by institutional investors.

Hershey Company (NYSE:HSY) opened at 110.50 on Friday. Hershey Company has a 52-week low of $94.03 and a 52-week high of $116.49. The company’s 50 day moving average is $106.42 and its 200-day moving average is $108.51. The firm has a market cap of $23.48 billion, a P/E ratio of 35.30 and a beta of 0.38.

Hershey Company (The) (NYSE:HSY) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.19. Hershey Company (The) had a return on equity of 119.66% and a net margin of 8.95%. The business had revenue of $1.66 billion for the quarter, compared to the consensus estimate of $1.65 billion. During the same quarter in the prior year, the company earned $0.85 EPS. The business’s revenue was up 1.5% compared to the same quarter last year. On average, equities analysts predict that Hershey Company will post $4.82 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Friday, August 25th were given a dividend of $0.656 per share. This is an increase from Hershey Company (The)’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Wednesday, August 23rd. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.37%. Hershey Company (The)’s dividend payout ratio is presently 83.44%.

In related news, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $106.01, for a total transaction of $477,045,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michele Buck sold 400 shares of the company’s stock in a transaction on Monday, June 26th. The stock was sold at an average price of $110.11, for a total value of $44,044.00. Following the sale, the insider now owns 166,497 shares of the company’s stock, valued at $18,332,984.67. The disclosure for this sale can be found here. Insiders have sold a total of 4,509,773 shares of company stock valued at $478,121,705 over the last 90 days. 0.92% of the stock is currently owned by company insiders.

HSY has been the topic of several research reports. Sanford C. Bernstein raised shares of Hershey Company (The) from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $109.00 to $127.00 in a report on Thursday, August 17th. Susquehanna Bancshares Inc set a $115.00 target price on shares of Hershey Company (The) and gave the stock a “hold” rating in a report on Saturday, June 17th. Zacks Investment Research lowered shares of Hershey Company (The) from a “buy” rating to a “sell” rating in a report on Thursday, June 29th. Royal Bank Of Canada reissued a “hold” rating and set a $114.00 target price on shares of Hershey Company (The) in a report on Friday, July 21st. Finally, BidaskClub lowered shares of Hershey Company (The) from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $111.48.

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Hershey Company (The) Company Profile

The Hershey Company is a producer of chocolate in North America. The Company’s principal product offerings include chocolate and non-chocolate confectionery products; gum and mint refreshment products; pantry items, such as baking ingredients and beverages, and snack items, such as spreads, meat snacks, bars and snack bites and mixes.

Institutional Ownership by Quarter for Hershey Company (The) (NYSE:HSY)

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