Pinnacle Associates Ltd. bought a new position in shares of Hershey Co (NYSE:HSY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 3,460 shares of the company’s stock, valued at approximately $322,000.

Several other hedge funds and other institutional investors have also modified their holdings of HSY. Schroder Investment Management Group raised its position in shares of Hershey by 349.9% during the 1st quarter. Schroder Investment Management Group now owns 2,134,067 shares of the company’s stock worth $211,187,000 after acquiring an additional 1,659,697 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of Hershey during the 2nd quarter worth about $48,331,000. Schwab Charles Investment Management Inc. raised its position in shares of Hershey by 62.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 965,337 shares of the company’s stock worth $95,530,000 after acquiring an additional 371,878 shares in the last quarter. American Century Companies Inc. raised its position in shares of Hershey by 58.9% during the 1st quarter. American Century Companies Inc. now owns 942,013 shares of the company’s stock worth $93,222,000 after acquiring an additional 349,264 shares in the last quarter. Finally, Millennium Management LLC raised its position in shares of Hershey by 420.4% during the 1st quarter. Millennium Management LLC now owns 341,787 shares of the company’s stock worth $33,823,000 after acquiring an additional 276,105 shares in the last quarter. 53.81% of the stock is currently owned by institutional investors and hedge funds.

In other Hershey news, insider Michele Buck sold 1,500 shares of Hershey stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $92.26, for a total value of $138,390.00. Following the transaction, the insider now directly owns 175,394 shares in the company, valued at approximately $16,181,850.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin R. Walling sold 30,835 shares of Hershey stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $101.18, for a total value of $3,119,885.30. Following the completion of the transaction, the senior vice president now owns 57,611 shares in the company, valued at $5,829,080.98. The disclosure for this sale can be found here. Insiders sold a total of 33,835 shares of company stock worth $3,411,125 over the last quarter. Company insiders own 0.92% of the company’s stock.

Several brokerages have recently weighed in on HSY. Consumer Edge lowered Hershey from an “overweight” rating to an “equal weight” rating in a research report on Monday, July 9th. Zacks Investment Research downgraded Hershey from a “buy” rating to a “hold” rating in a research note on Wednesday, July 4th. ValuEngine upgraded Hershey from a “sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Piper Jaffray Companies raised their price target on Hershey from $97.00 to $100.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. Finally, Societe Generale downgraded Hershey from a “hold” rating to a “sell” rating and dropped their price target for the stock from $93.29 to $85.00 in a research note on Friday, April 27th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and two have assigned a buy rating to the company. Hershey currently has an average rating of “Hold” and an average target price of $102.35.

NYSE:HSY opened at $99.77 on Friday. The company has a market cap of $20.97 billion, a P/E ratio of 20.41, a PEG ratio of 2.13 and a beta of 0.32. The company has a current ratio of 0.94, a quick ratio of 0.58 and a debt-to-equity ratio of 3.05. Hershey Co has a 52-week low of $89.10 and a 52-week high of $115.82.

Hershey (NYSE:HSY) last released its quarterly earnings results on Thursday, July 26th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.04. Hershey had a return on equity of 108.82% and a net margin of 13.40%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.74 billion. During the same quarter last year, the business posted $1.09 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. research analysts expect that Hershey Co will post 5.36 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 24th will be paid a $0.722 dividend. This is an increase from Hershey’s previous quarterly dividend of $0.66. This represents a $2.89 annualized dividend and a dividend yield of 2.89%. The ex-dividend date is Thursday, August 23rd. Hershey’s dividend payout ratio (DPR) is 55.04%.

Hershey Company 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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