Parthenon LLC purchased a new position in shares of Hershey Co. (NYSE:HSY) during the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 2,100 shares of the company’s stock, valued at approximately $238,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp increased its stake in Hershey by 1.2% in the first quarter. State Street Corp now owns 6,333,795 shares of the company’s stock worth $583,282,000 after buying an additional 75,976 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Hershey by 1.9% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,186,582 shares of the company’s stock worth $385,542,000 after buying an additional 76,996 shares during the last quarter. BlackRock Fund Advisors increased its stake in Hershey by 7.8% in the first quarter. BlackRock Fund Advisors now owns 3,197,652 shares of the company’s stock worth $294,472,000 after buying an additional 231,618 shares during the last quarter. Renaissance Technologies LLC increased its stake in Hershey by 12.5% in the first quarter. Renaissance Technologies LLC now owns 2,493,937 shares of the company’s stock worth $229,667,000 after buying an additional 277,637 shares during the last quarter. Finally, BlackRock Group LTD increased its stake in Hershey by 14.6% in the first quarter. BlackRock Group LTD now owns 1,646,852 shares of the company’s stock worth $151,658,000 after buying an additional 210,412 shares during the last quarter. 53.11% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Co. (NYSE:HSY) traded up 0.88% during midday trading on Wednesday, hitting $96.36. 1,062,668 shares of the stock traded hands. The company’s 50-day moving average is $105.25 and its 200-day moving average is $98.85. Hershey Co. has a one year low of $82.42 and a one year high of $117.79. The company has a market cap of $20.54 billion, a PE ratio of 28.22 and a beta of 0.20.

Hershey (NYSE:HSY) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.07. The business had revenue of $1.64 billion for the quarter, compared to the consensus estimate of $1.61 billion. Hershey had a net margin of 10.14% and a return on equity of 100.78%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Equities research analysts expect that Hershey Co. will post $4.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Thursday, August 25th were paid a dividend of $0.618 per share. This is an increase from Hershey’s previous quarterly dividend of $0.58. The ex-dividend date was Tuesday, August 23rd. This represents a $2.47 annualized dividend and a dividend yield of 2.57%. Hershey’s dividend payout ratio is presently 72.22%.

HSY has been the subject of a number of recent research reports. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $89.00 price objective on shares of Hershey in a report on Saturday, July 2nd. Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Royal Bank Of Canada cut their price target on shares of Hershey from $105.00 to $92.00 and set a “sector perform” rating for the company in a report on Wednesday, July 27th. Bank of America Corp. began coverage on shares of Hershey in a report on Tuesday, August 30th. They set an “underperform” rating and a $100.00 price target for the company. Finally, RBC Capital Markets restated a “sector perform” rating and set a $105.00 price target (up previously from $92.00) on shares of Hershey in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $100.50.

In related news, COO Michele Buck sold 13,500 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $107.31, for a total transaction of $1,448,685.00. Following the transaction, the chief operating officer now owns 168,710 shares of the company’s stock, valued at $18,104,270.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP D Michael Wege sold 1,100 shares of the company’s stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $111.41, for a total transaction of $122,551.00. Following the transaction, the senior vice president now directly owns 27,188 shares in the company, valued at approximately $3,029,015.08. The disclosure for this sale can be found here. Corporate insiders own 0.68% of the company’s stock.

About Hershey

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

5 Day Chart for NYSE:HSY

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