Smith Asset Management Group LP increased its position in shares of Hershey Company (The) (NYSE:HSY) by 13.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 350,140 shares of the company’s stock after buying an additional 41,930 shares during the period. Hershey Company (The) accounts for 1.2% of Smith Asset Management Group LP’s investment portfolio, making the stock its 27th largest position. Smith Asset Management Group LP’s holdings in Hershey Company (The) were worth $37,595,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of HSY. Invictus RG acquired a new stake in Hershey Company (The) during the first quarter valued at about $155,000. Independent Portfolio Consultants Inc. raised its stake in Hershey Company (The) by 139.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,521 shares of the company’s stock valued at $163,000 after buying an additional 886 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in Hershey Company (The) by 43.6% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,565 shares of the company’s stock valued at $168,000 after buying an additional 475 shares during the last quarter. Enterprise Financial Services Corp raised its stake in Hershey Company (The) by 0.8% in the first quarter. Enterprise Financial Services Corp now owns 1,681 shares of the company’s stock valued at $184,000 after buying an additional 14 shares during the last quarter. Finally, Johnson Financial Group Inc. raised its stake in Hershey Company (The) by 9.5% in the first quarter. Johnson Financial Group Inc. now owns 1,733 shares of the company’s stock valued at $189,000 after buying an additional 150 shares during the last quarter. 51.16% of the stock is owned by institutional investors.

Hershey Company (NYSE HSY) opened at 105.30 on Friday. The company has a market cap of $22.37 billion, a P/E ratio of 33.64 and a beta of 0.38. The stock’s 50 day moving average is $106.29 and its 200 day moving average is $108.56. Hershey Company has a 12-month low of $94.03 and a 12-month high of $116.49.

Hershey Company (The) (NYSE:HSY) last announced its quarterly earnings results on Wednesday, July 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.19. The firm had revenue of $1.66 billion during the quarter, compared to analysts’ expectations of $1.65 billion. Hershey Company (The) had a net margin of 8.95% and a return on equity of 119.66%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.85 earnings per share. On average, equities analysts forecast that Hershey Company will post $4.82 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, August 25th will be paid a dividend of $0.656 per share. This represents a $2.62 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, August 23rd. This is a boost from Hershey Company (The)’s previous quarterly dividend of $0.62. Hershey Company (The)’s dividend payout ratio (DPR) is currently 78.66%.

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HSY has been the subject of several analyst reports. Zacks Investment Research raised shares of Hershey Company (The) from a “hold” rating to a “buy” rating and set a $121.00 price objective for the company in a research note on Wednesday, June 28th. Credit Suisse Group reaffirmed a “buy” rating and issued a $121.00 price objective on shares of Hershey Company (The) in a research note on Friday, July 28th. Morgan Stanley reduced their price objective on shares of Hershey Company (The) from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 18th. Susquehanna Bancshares Inc set a $118.00 price objective on shares of Hershey Company (The) and gave the company a “hold” rating in a research note on Wednesday, July 26th. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $114.00 price objective on shares of Hershey Company (The) in a research note on Friday, July 21st. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Hershey Company (The) has an average rating of “Hold” and an average target price of $109.14.

In other news, SVP Terence L. O’day sold 37,875 shares of the firm’s stock in a transaction dated Friday, June 9th. The shares were sold at an average price of $113.88, for a total transaction of $4,313,205.00. Following the completion of the sale, the senior vice president now owns 75,303 shares in the company, valued at approximately $8,575,505.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Michele Buck sold 400 shares of the firm’s stock in a transaction dated Wednesday, July 26th. 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 166,097 shares of the company’s stock, valued at approximately $17,938,476. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,408 shares of company stock valued at $11,100,636. 0.92% of the stock is currently owned by corporate insiders.

Hershey Company (The) Company Profile

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

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