Toronto Dominion Bank Boosts Stake in Hershey Company (The) (HSY)

Toronto Dominion Bank increased its holdings in Hershey Company (The) (NYSE:HSY) by 13.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 53,737 shares of the company’s stock after buying an additional 6,261 shares during the period. Toronto Dominion Bank’s holdings in Hershey Company (The) were worth $5,865,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WFG Advisors LP boosted its holdings in shares of Hershey Company (The) by 25.2% in the 2nd quarter. WFG Advisors LP now owns 998 shares of the company’s stock valued at $107,000 after buying an additional 201 shares during the period. Sun Life Financial INC boosted its holdings in shares of Hershey Company (The) by 12,637.5% in the 2nd quarter. Sun Life Financial INC now owns 1,019 shares of the company’s stock valued at $109,000 after buying an additional 1,011 shares during the period. QCI Asset Management Inc. NY boosted its holdings in shares of Hershey Company (The) by 10.8% in the 2nd quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock valued at $110,000 after buying an additional 100 shares during the period. Fiduciary Trust Co. acquired a new position in shares of Hershey Company (The) in the 2nd quarter valued at about $125,000. Finally, Dupont Capital Management Corp acquired a new position in shares of Hershey Company (The) in the 2nd quarter valued at about $174,000. 50.22% of the stock is owned by institutional investors and hedge funds.

In related news, SVP D Michael Wege sold 1,100 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $109.43, for a total value of $120,373.00. Following the sale, the senior vice president now directly owns 27,666 shares in the company, valued at approximately $3,027,490.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 4,500,000 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,534,049 shares of company stock valued at $480,760,013. Company insiders own 0.92% of the company’s stock.

Shares of Hershey Company (HSY) opened at $109.10 on Friday. The firm has a market cap of $23,110.00, a P/E ratio of 22.42, a PEG ratio of 2.99 and a beta of 0.36. Hershey Company has a one year low of $95.68 and a one year high of $116.49. The company has a quick ratio of 0.55, a current ratio of 0.95 and a debt-to-equity ratio of 2.45.

Hershey Company (The) (NYSE:HSY) last issued its quarterly earnings results on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.29 by $0.04. The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2.01 billion. Hershey Company (The) had a net margin of 9.52% and a return on equity of 124.06%. The business’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.29 EPS. research analysts anticipate that Hershey Company will post 4.8 earnings per share for the current year.

Hershey Company (The) announced that its board has approved a share repurchase program on Thursday, October 26th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Wednesday, November 22nd will be paid a $0.656 dividend. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Tuesday, November 21st. Hershey Company (The)’s dividend payout ratio is currently 85.34%.

A number of research analysts have issued reports on the stock. Zacks Investment Research raised shares of Hershey Company (The) from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Monday, October 2nd. Credit Suisse Group reissued a “buy” rating and set a $121.00 target price on shares of Hershey Company (The) in a research note on Friday, July 28th. Royal Bank Of Canada reissued a “sector perform” rating and set a $115.00 target price (up from $114.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Susquehanna Bancshares Inc set a $118.00 target price on shares of Hershey Company (The) and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Deutsche Bank AG reissued a “hold” rating and set a $111.00 target price (down from $112.00) on shares of Hershey Company (The) in a research note on Thursday, July 27th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the stock. Hershey Company (The) currently has a consensus rating of “Hold” and a consensus target price of $113.35.

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About Hershey Company (The)

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.

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

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