Separately, Zacks Investment Research cut Hershey from a hold rating to a sell rating in a report on Tuesday, April 2nd. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company’s stock. Hershey currently has a consensus rating of Hold and a consensus price target of $105.18.
Shares of HSY stock traded up $3.47 during trading hours on Thursday, reaching $125.91. 49,922 shares of the company traded hands, compared to its average volume of 1,127,739. Hershey has a 12-month low of $89.10 and a 12-month high of $124.63. The company has a quick ratio of 0.60, a current ratio of 0.93 and a debt-to-equity ratio of 2.31. The stock has a market cap of $24.37 billion, a P/E ratio of 23.50, a PEG ratio of 2.44 and a beta of 0.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be given a dividend of $0.722 per share. This represents a $2.89 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Thursday, May 23rd. Hershey’s dividend payout ratio is currently 53.92%.
In other Hershey news, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $117.00, for a total value of $175,500.00. Following the completion of the sale, the chief executive officer now directly owns 161,429 shares in the company, valued at approximately $18,887,193. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Javier H. Idrovo sold 4,873 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $110.00, for a total value of $536,030.00. Following the completion of the sale, the vice president now owns 21,436 shares of the company’s stock, valued at $2,357,960. The disclosure for this sale can be found here. In the last three months, insiders have sold 41,793 shares of company stock worth $4,662,700. Corporate insiders own 0.87% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James & Associates increased its holdings in shares of Hershey by 26.1% in the fourth quarter. Raymond James & Associates now owns 56,621 shares of the company’s stock valued at $6,069,000 after purchasing an additional 11,702 shares during the period. Gotham Asset Management LLC grew its holdings in Hershey by 453.3% during the fourth quarter. Gotham Asset Management LLC now owns 92,780 shares of the company’s stock worth $9,944,000 after acquiring an additional 76,011 shares during the period. Captrust Financial Advisors grew its holdings in Hershey by 126.1% during the fourth quarter. Captrust Financial Advisors now owns 848 shares of the company’s stock worth $91,000 after acquiring an additional 473 shares during the period. Victory Capital Management Inc. grew its holdings in Hershey by 5.5% during the fourth quarter. Victory Capital Management Inc. now owns 156,085 shares of the company’s stock worth $16,729,000 after acquiring an additional 8,098 shares during the period. Finally, Ipswich Investment Management Co. Inc. grew its holdings in Hershey by 1.2% during the fourth quarter. Ipswich Investment Management Co. Inc. now owns 10,245 shares of the company’s stock worth $1,098,000 after acquiring an additional 125 shares during the period. Hedge funds and other institutional investors own 52.51% of the company’s stock.
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.
See Also: Return on Equity (ROE)
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