Exxonmobil Investment Management Inc. TX Lowers Position in Hershey Co. (HSY)
Exxonmobil Investment Management Inc. TX decreased its stake in shares of Hershey Co. (NYSE:HSY) by 1.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,840 shares of the company’s stock after selling 537 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in Hershey were worth $3,426,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Orrstown Financial Services Inc. boosted its position in shares of Hershey by 2.2% in the second quarter. Orrstown Financial Services Inc. now owns 940 shares of the company’s stock worth $107,000 after buying an additional 20 shares during the last quarter. Grisanti Capital Management LLC acquired a new position in shares of Hershey during the second quarter worth approximately $138,000. First Personal Financial Services acquired a new position in shares of Hershey during the second quarter worth approximately $150,000. Van ECK Associates Corp boosted its position in shares of Hershey by 8.3% in the second quarter. Van ECK Associates Corp now owns 1,408 shares of the company’s stock worth $160,000 after buying an additional 108 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC acquired a new position in shares of Hershey during the second quarter worth approximately $201,000. 50.70% of the stock is owned by institutional investors.
Shares of Hershey Co. (NYSE:HSY) traded up 0.30% on Tuesday, hitting $98.13. 1,040,336 shares of the stock were exchanged. The stock has a market cap of $20.83 billion, a PE ratio of 25.99 and a beta of 0.32. The company’s 50 day moving average is $97.99 and its 200-day moving average is $100.72. Hershey Co. has a 52-week low of $82.42 and a 52-week high of $117.79.
Hershey (NYSE:HSY) last announced its quarterly earnings data on Friday, October 28th. The company reported $1.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.19 by $0.10. Hershey had a net margin of 11.07% and a return on equity of 102.75%. The firm earned $2 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the prior year, the firm posted $1.17 earnings per share. Hershey’s quarterly revenue was up 2.2% on a year-over-year basis. Analysts predict that Hershey Co. will post $4.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 23rd will be paid a dividend of $0.618 per share. This represents a $2.47 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Monday, November 21st. Hershey’s dividend payout ratio (DPR) is presently 65.34%.
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A number of brokerages have commented on HSY. Vetr raised shares of Hershey from a “hold” rating to a “strong-buy” rating and set a $112.59 price objective for the company in a research note on Wednesday, August 31st. Deutsche Bank AG restated a “hold” rating on shares of Hershey in a report on Friday, October 21st. Sanford C. Bernstein restated a “market perform” rating and issued a $98.00 target price on shares of Hershey in a report on Wednesday, October 26th. Stifel Nicolaus raised their target price on shares of Hershey from $94.00 to $97.00 and gave the stock a “hold” rating in a report on Monday, October 31st. Finally, Zacks Investment Research upgraded shares of Hershey from a “sell” rating to a “hold” rating in a report on Monday, August 1st. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $101.81.
In other Hershey news, COO Michele Buck sold 4,000 shares of the stock in a transaction dated Friday, October 28th. The shares were sold at an average price of $103.00, for a total transaction of $412,000.00. Following the completion of the transaction, the chief operating officer now owns 159,210 shares of the company’s stock, valued at $16,398,630. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP D Michael Wege sold 1,100 shares of the stock in a transaction dated Monday, October 17th. The stock was sold at an average price of $96.40, for a total transaction of $106,040.00. Following the transaction, the senior vice president now directly owns 26,988 shares of the company’s stock, valued at approximately $2,601,643.20. The disclosure for this sale can be found here. Company insiders own 0.68% of the company’s stock.
Hershey Company Profile
The Hershey Company is a producer of chocolate and non-chocolate confectionery. The Company’s principal confectionery offerings include gum and mint refreshment products; pantry items, such as baking ingredients, toppings and beverages, and snack items, such as spreads, meat snacks, bars, and snack bites and mixes.
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