Hershey (HSY) Reaches New 1-Year High at $116.77

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Hershey Co (NYSE:HSY) shares reached a new 52-week high during trading on Monday . The stock traded as high as $116.77 and last traded at $116.64, with a volume of 8914 shares. The stock had previously closed at $116.11.

Several research analysts have commented on the stock. Zacks Investment Research cut shares of Hershey from a “hold” rating to a “sell” rating in a report on Tuesday, April 2nd. ValuEngine cut shares of Hershey from a “buy” rating to a “hold” rating in a report on Thursday, January 24th. Finally, Bank of America upgraded shares of Hershey from an “underperform” rating to a “buy” rating and upped their target price for the company from $92.00 to $120.00 in a report on Wednesday, December 19th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has assigned a buy rating to the stock. Hershey has a consensus rating of “Hold” and a consensus target price of $103.36.

The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 2.31. The firm has a market cap of $24.21 billion, a PE ratio of 21.78, a price-to-earnings-growth ratio of 2.41 and a beta of 0.15.

Hershey (NYSE:HSY) last issued its earnings results on Thursday, January 31st. The company reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.27 by ($0.01). Hershey had a net margin of 15.11% and a return on equity of 95.97%. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same quarter in the previous year, the company posted $1.03 EPS. Research analysts forecast that Hershey Co will post 5.66 earnings per share for the current year.

In related news, VP Javier H. Idrovo sold 4,873 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $110.00, for a total transaction of $536,030.00. Following the completion of the sale, the vice president now owns 21,436 shares in the company, valued at approximately $2,357,960. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michele Buck sold 1,500 shares of the stock in a transaction on Tuesday, January 22nd. The stock was sold at an average price of $108.19, for a total transaction of $162,285.00. Following the sale, the chief executive officer now owns 166,394 shares of the company’s stock, valued at approximately $18,002,166.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,585 shares of company stock valued at $3,811,555. Company insiders own 0.87% of the company’s stock.

A number of large investors have recently modified their holdings of HSY. Bank of New York Mellon Corp raised its position in Hershey by 51.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,998,325 shares of the company’s stock worth $203,829,000 after buying an additional 676,300 shares during the last quarter. Martingale Asset Management L P raised its position in Hershey by 1.9% during the 3rd quarter. Martingale Asset Management L P now owns 385,127 shares of the company’s stock worth $39,284,000 after buying an additional 7,202 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Hershey by 33.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 514,808 shares of the company’s stock worth $52,510,000 after buying an additional 129,515 shares during the last quarter. Franklin Resources Inc. raised its position in Hershey by 7.4% during the 3rd quarter. Franklin Resources Inc. now owns 42,838 shares of the company’s stock worth $4,369,000 after buying an additional 2,934 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in Hershey during the 3rd quarter worth $917,000. Hedge funds and other institutional investors own 52.41% of the company’s stock.

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About Hershey (NYSE:HSY)

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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