Alerus Financial NA Has $1.26 Million Stock Holdings in The Hershey Company (NYSE:HSY)

Alerus Financial NA decreased its holdings in shares of The Hershey Company (NYSE:HSY) by 2.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,213 shares of the company’s stock after selling 211 shares during the period. Alerus Financial NA’s holdings in The Hershey were worth $1,256,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HSY. Nordea Investment Management AB raised its holdings in shares of The Hershey by 114.5% in the first quarter. Nordea Investment Management AB now owns 1,106,753 shares of the company’s stock valued at $174,878,000 after purchasing an additional 590,867 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of The Hershey by 399.6% in the first quarter. Acadian Asset Management LLC now owns 648,361 shares of the company’s stock valued at $102,547,000 after purchasing an additional 518,579 shares during the last quarter. Alyeska Investment Group L.P. purchased a new stake in shares of The Hershey in the first quarter valued at about $49,608,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of The Hershey by 270.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 413,296 shares of the company’s stock valued at $65,367,000 after purchasing an additional 301,702 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of The Hershey by 52.3% in the first quarter. Royal Bank of Canada now owns 842,375 shares of the company’s stock valued at $133,231,000 after purchasing an additional 289,378 shares during the last quarter. Institutional investors own 52.34% of the company’s stock.

Several brokerages have recently commented on HSY. Credit Suisse Group increased their target price on shares of The Hershey from $180.00 to $194.00 and gave the company an “outperform” rating in a report on Friday, July 30th. Morgan Stanley assumed coverage on shares of The Hershey in a report on Tuesday. They issued a “hold” rating and a $180.00 target price for the company. BMO Capital Markets increased their price target on shares of The Hershey from $175.00 to $181.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Deutsche Bank Aktiengesellschaft increased their price target on shares of The Hershey from $166.00 to $173.00 and gave the company a “hold” rating in a research report on Thursday, July 22nd. Finally, Royal Bank of Canada increased their price target on shares of The Hershey from $188.00 to $189.00 and gave the company an “outperform” rating in a research report on Friday, July 30th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $177.50.

In related news, CEO Michele Buck sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $177.93, for a total value of $889,650.00. Following the sale, the chief executive officer now directly owns 175,497 shares of the company’s stock, valued at $31,226,181.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kristen J. Riggs sold 1,760 shares of the firm’s stock in a transaction that occurred on Tuesday, September 7th. The shares were sold at an average price of $175.42, for a total transaction of $308,739.20. The disclosure for this sale can be found here. Insiders sold 15,079 shares of company stock valued at $2,674,010 over the last 90 days. 0.32% of the stock is owned by company insiders.

NYSE:HSY traded down $0.26 on Wednesday, reaching $171.52. 1,037 shares of the company’s stock were exchanged, compared to its average volume of 880,548. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.40 and a quick ratio of 0.73. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 3.30 and a beta of 0.36. The Hershey Company has a 52 week low of $134.00 and a 52 week high of $182.71. The stock has a fifty day simple moving average of $177.63 and a 200-day simple moving average of $170.41.

The Hershey (NYSE:HSY) last issued its earnings results on Thursday, July 29th. The company reported $1.47 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $0.05. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.85 billion. The Hershey had a net margin of 16.52% and a return on equity of 63.62%. As a group, sell-side analysts predict that The Hershey Company will post 6.92 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Friday, August 20th were given a $0.901 dividend. This is a positive change from The Hershey’s previous quarterly dividend of $0.80. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend was Thursday, August 19th. The Hershey’s dividend payout ratio (DPR) is 57.23%.

About The Hershey

The Hershey Co engages in the manufacture and market of chocolate and sugar confectionery products. The firm operates through the following geographical segments: North America; and International and Other. The North America segment is responsible for the traditional chocolate and non-chocolate confectionery market position of the company, as well as its grocery and snacks market positions, in the United States and Canada.

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

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