QUANTRES ASSET MANAGEMENT Ltd Acquires Shares of 2,700 Hershey Co (HSY)

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QUANTRES ASSET MANAGEMENT Ltd acquired a new position in Hershey Co (NYSE:HSY) in the third quarter, Holdings Channel reports. The institutional investor acquired 2,700 shares of the company’s stock, valued at approximately $275,000.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC lifted its stake in Hershey by 42.5% in the second quarter. FMR LLC now owns 5,089,056 shares of the company’s stock valued at $473,587,000 after buying an additional 1,518,053 shares during the last quarter. Schroder Investment Management Group lifted its stake in Hershey by 11.3% in the second quarter. Schroder Investment Management Group now owns 2,374,353 shares of the company’s stock valued at $223,616,000 after buying an additional 240,286 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Hershey by 2.3% in the second quarter. Renaissance Technologies LLC now owns 2,188,000 shares of the company’s stock valued at $203,615,000 after buying an additional 48,700 shares during the last quarter. Scharf Investments LLC lifted its stake in Hershey by 19.5% in the second quarter. Scharf Investments LLC now owns 1,481,324 shares of the company’s stock valued at $137,849,000 after buying an additional 241,662 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in Hershey by 0.9% in the second quarter. Bank of America Corp DE now owns 1,166,949 shares of the company’s stock valued at $108,596,000 after buying an additional 10,670 shares during the last quarter. 52.58% 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 dated Monday, August 20th. The shares were sold at an average price of $101.90, for a total transaction of $152,850.00. Following the sale, the insider now directly owns 173,894 shares in the company, valued at $17,719,798.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares of Hershey stock in a transaction dated Monday, October 29th. The shares were sold at an average price of $106.00, for a total transaction of $5,000,020.00. Following the sale, the insider now owns 102,330 shares in the company, valued at $10,846,980. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 121,716 shares of company stock worth $12,690,499. Company insiders own 0.92% of the company’s stock.

Shares of NYSE HSY opened at $107.15 on Thursday. Hershey Co has a fifty-two week low of $89.10 and a fifty-two week high of $115.82. The company has a current ratio of 1.01, a quick ratio of 0.69 and a debt-to-equity ratio of 2.60. The stock has a market cap of $22.61 billion, a P/E ratio of 22.51, a P/E/G ratio of 2.30 and a beta of 0.32.

Hershey (NYSE:HSY) last issued its quarterly earnings data on Thursday, October 25th. The company reported $1.55 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.55. Hershey had a net margin of 13.20% and a return on equity of 102.30%. The business had revenue of $2.08 billion for the quarter, compared to analysts’ expectations of $2.08 billion. As a group, analysts predict that Hershey Co will post 5.37 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 21st will be paid a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, November 20th. Hershey’s dividend payout ratio is currently 60.71%.

A number of equities research analysts have issued reports on HSY shares. Stifel Nicolaus raised their target price on Hershey from $90.00 to $95.00 and gave the company a “hold” rating in a research note on Friday, July 27th. Piper Jaffray Companies set a $105.00 target price on Hershey and gave the company a “hold” rating in a research note on Friday, October 26th. Zacks Investment Research cut Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Consumer Edge cut Hershey from an “overweight” rating to an “equal weight” rating in a research note on Monday, July 9th. Finally, Credit Suisse Group raised their target price on Hershey from $80.00 to $85.00 and gave the company a “sell” rating in a research note on Friday, July 27th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and two have issued a buy rating to the company’s stock. Hershey has an average rating of “Hold” and an average price target of $103.81.

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.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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