TIAA CREF Investment Management LLC boosted its stake in shares of Hershey Co (NYSE:HSY) by 2.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 605,097 shares of the company’s stock after purchasing an additional 11,630 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.29% of Hershey worth $68,685,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of HSY. BlackRock Inc. increased its holdings in Hershey by 22.6% during the 4th quarter. BlackRock Inc. now owns 12,459,680 shares of the company’s stock worth $1,414,299,000 after purchasing an additional 2,299,115 shares during the period. Evercore Trust Company N.A. purchased a new stake in Hershey during the 3rd quarter worth about $105,956,000. American Century Companies Inc. purchased a new stake in Hershey during the 4th quarter worth about $67,283,000. APG Asset Management N.V. increased its holdings in Hershey by 45.4% during the 4th quarter. APG Asset Management N.V. now owns 1,885,679 shares of the company’s stock worth $178,251,000 after purchasing an additional 588,500 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in Hershey by 15.4% during the 3rd quarter. Janus Henderson Group PLC now owns 4,368,862 shares of the company’s stock worth $476,949,000 after purchasing an additional 582,715 shares during the period. Institutional investors own 52.60% of the company’s stock.
In related news, CEO Michele Buck sold 400 shares of the firm’s stock in a transaction that occurred on Friday, January 26th. The stock was sold at an average price of $111.55, for a total transaction of $44,620.00. Following the transaction, the chief executive officer now owns 163,697 shares in the company, valued at approximately $18,260,400.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.92% of the company’s stock.
Hershey Co (NYSE HSY) opened at $100.07 on Tuesday. The stock has a market capitalization of $21,262.89, a P/E ratio of 21.22, a P/E/G ratio of 2.18 and a beta of 0.36. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.60 and a current ratio of 0.96. Hershey Co has a 12 month low of $95.21 and a 12 month high of $116.49.
Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.03). The firm had revenue of $1.94 billion for the quarter, compared to analysts’ expectations of $1.96 billion. Hershey had a return on equity of 116.74% and a net margin of 10.42%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.17 EPS. analysts expect that Hershey Co will post 5.36 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Friday, February 23rd were paid a dividend of $0.656 per share. The ex-dividend date of this dividend was Thursday, February 22nd. This represents a $2.62 dividend on an annualized basis and a yield of 2.62%. Hershey’s dividend payout ratio is presently 71.58%.
A number of research firms have recently commented on HSY. Royal Bank of Canada reiterated a “hold” rating and issued a $120.00 price objective on shares of Hershey in a report on Tuesday, January 30th. Morgan Stanley downgraded Hershey from an “equal weight” rating to an “underweight” rating in a report on Wednesday, January 10th. Susquehanna Bancshares set a $108.00 price objective on Hershey and gave the company a “hold” rating in a report on Wednesday, January 17th. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Barclays dropped their price objective on Hershey from $110.00 to $107.00 and set an “equal weight” rating on the stock in a report on Friday, February 2nd. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $111.53.
Hershey 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.
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