Hershey Co (HSY) Position Reduced by Elgethun Capital Management

Elgethun Capital Management decreased its stake in Hershey Co (NYSE:HSY) by 26.9% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 13,225 shares of the company’s stock after selling 4,867 shares during the period. Elgethun Capital Management’s holdings in Hershey were worth $1,519,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Hershey by 8.4% during the fourth quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock worth $1,475,299,000 after acquiring an additional 1,070,632 shares during the last quarter. Vanguard Group Inc raised its position in shares of Hershey by 1.1% during the third quarter. Vanguard Group Inc now owns 10,862,696 shares of the company’s stock worth $1,107,995,000 after acquiring an additional 116,765 shares during the last quarter. FMR LLC raised its position in shares of Hershey by 9.8% during the fourth quarter. FMR LLC now owns 6,142,122 shares of the company’s stock worth $658,314,000 after acquiring an additional 550,341 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of Hershey by 10,179.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock worth $32,000 after acquiring an additional 3,423,036 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Hershey by 17.5% during the first quarter. Janus Henderson Group PLC now owns 2,224,400 shares of the company’s stock worth $255,428,000 after acquiring an additional 331,806 shares during the last quarter. 53.61% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Javier H. Idrovo sold 4,873 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $110.00, for a total transaction of $536,030.00. Following the completion of the transaction, the vice president now directly owns 21,436 shares of the company’s stock, valued at $2,357,960. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michele Buck sold 1,500 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $109.59, for a total value of $164,385.00. Following the transaction, the insider now directly owns 166,056 shares of the company’s stock, valued at $18,198,077.04. The disclosure for this sale can be found here. Insiders have sold 3,082,011 shares of company stock valued at $385,916,058 over the last ninety days. 0.41% of the stock is owned by insiders.

HSY stock opened at $128.90 on Monday. The company has a quick ratio of 0.59, a current ratio of 0.92 and a debt-to-equity ratio of 2.27. The stock has a market cap of $26.91 billion, a PE ratio of 24.05, a PEG ratio of 2.83 and a beta of 0.18. Hershey Co has a fifty-two week low of $89.29 and a fifty-two week high of $129.67.

Hershey (NYSE:HSY) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.59 earnings per share for the quarter, topping the consensus estimate of $1.48 by $0.11. The company had revenue of $2.02 billion during the quarter, compared to analysts’ expectations of $2 billion. Hershey had a return on equity of 90.64% and a net margin of 14.44%. Hershey’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. As a group, equities research analysts anticipate that Hershey Co will post 5.7 EPS for the current fiscal year.

The company also recently disclosed 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. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 annualized dividend and a dividend yield of 2.24%. Hershey’s dividend payout ratio is currently 53.92%.

A number of research firms recently commented on HSY. Zacks Investment Research upgraded Hershey from a “hold” rating to a “buy” rating and set a $139.00 price objective for the company in a report on Wednesday, May 8th. Barclays increased their price target on Hershey from $103.00 to $120.00 and gave the stock an “equal weight” rating in a report on Friday, April 26th. Bank of America restated a “buy” rating and issued a $130.00 price target (up from $120.00) on shares of Hershey in a report on Friday, April 26th. BMO Capital Markets increased their price target on Hershey from $93.00 to $108.00 and gave the stock a “market perform” rating in a report on Friday, April 26th. Finally, Credit Suisse Group set a $123.00 price target on Hershey and gave the stock a “hold” rating in a report on Friday, April 26th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $113.27.

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Hershey 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: Reverse Stock Split

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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