Hershey Co (HSY) Shares Bought by Franklin Street Advisors Inc. NC
Franklin Street Advisors Inc. NC boosted its stake in Hershey Co (NYSE:HSY) by 5.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,658 shares of the company’s stock after purchasing an additional 7,819 shares during the period. Hershey comprises about 2.4% of Franklin Street Advisors Inc. NC’s holdings, making the stock its 9th largest holding. Franklin Street Advisors Inc. NC’s holdings in Hershey were worth $16,193,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors also recently modified their holdings of the stock. Bath Savings Trust Co lifted its stake in Hershey by 10.4% in the 4th quarter. Bath Savings Trust Co now owns 19,851 shares of the company’s stock valued at $2,253,000 after purchasing an additional 1,863 shares during the last quarter. Hutchens Investment Management Inc increased its position in Hershey by 4.3% in the 4th quarter. Hutchens Investment Management Inc now owns 17,238 shares of the company’s stock valued at $1,956,000 after acquiring an additional 711 shares during the period. Atlantic Trust Group LLC increased its position in Hershey by 40.5% in the 3rd quarter. Atlantic Trust Group LLC now owns 19,603 shares of the company’s stock valued at $2,140,000 after acquiring an additional 5,655 shares during the period. Parametric Portfolio Associates LLC increased its position in Hershey by 5.8% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 450,350 shares of the company’s stock valued at $49,165,000 after acquiring an additional 24,726 shares during the period. Finally, Steward Partners Investment Advisory LLC acquired a new position in Hershey in the 3rd quarter valued at approximately $442,000. 51.24% of the stock is owned by institutional investors and hedge funds.
In other news, SVP D Michael Wege sold 15,517 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $108.18, for a total transaction of $1,678,629.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michele Buck sold 400 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the sale, the insider now owns 164,497 shares of the company’s stock, valued at $17,765,676. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,817 shares of company stock valued at $1,932,295. 0.92% of the stock is currently owned by corporate insiders.
Hershey Co (HSY) traded down $2.92 on Wednesday, hitting $110.86. 1,047,640 shares of the stock traded hands, compared to its average volume of 760,883. Hershey Co has a 52 week low of $101.61 and a 52 week high of $116.49. The company has a debt-to-equity ratio of 2.45, a quick ratio of 0.55 and a current ratio of 0.95. The firm has a market capitalization of $23,340.00, a PE ratio of 32.99, a PEG ratio of 2.82 and a beta of 0.38.
Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, October 26th. The company reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. Hershey had a net margin of 9.52% and a return on equity of 124.06%. The company had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.01 billion. During the same period in the prior year, the company posted $1.29 earnings per share. Hershey’s revenue for the quarter was up 1.5% compared to the same quarter last year. equities research analysts anticipate that Hershey Co will post 4.8 EPS for the current fiscal year.
Hershey announced that its board has authorized a stock buyback program on Thursday, October 26th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Several equities analysts have issued reports on the stock. Morgan Stanley cut shares of Hershey from an “equal weight” rating to an “underweight” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Hershey from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research report on Friday, December 29th. Royal Bank of Canada restated a “hold” rating and issued a $122.00 price target on shares of Hershey in a research report on Friday, December 22nd. Sanford C. Bernstein set a $124.00 price target on shares of Hershey and gave the company a “buy” rating in a research report on Tuesday, December 19th. Finally, Berenberg Bank upgraded shares of Hershey from a “sell” rating to a “hold” rating and set a $90.00 price target for the company in a research report on Monday, December 18th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $114.02.
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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