Lipe & Dalton raised its holdings of Hershey Co (NYSE: HSY) by 2.2% during the third quarter, according to the company in its latest filing with the Securities and Exchange Commission. The institutional investor held 47,816 shares of the company after the purchase of 1,051 additional shares during the period. Hershey is responsible for about 3.3% of Lipe & Dalton's portfolio, making it the 8th highest position. Lipe & Dalton's holdings in Hershey were worth $ 4,877,000 at the end of the most recent quarter.
Other institutional investors also made changes in their positions in the company. Hamel Associates Inc. increased its stake in Hershey by 17.5% in the third quarter. Hamel Associates Inc. now owns 3,525 shares of the company, worth $ 360,000, after acquiring another 525 shares in the last quarter. First National Trust Co increased its stake in Hershey by 8.5% in the third quarter. First National Trust Co now owns 6,756 shares of the company in the amount of $ 689,000, after acquiring another 529 shares in the last quarter. CIBC Asset Management Inc increased its stake in Hershey by 2.9% in the second quarter. CIBC Asset Management Inc now owns 18,971 shares of the company in the amount of $ 1,765,000 after acquiring another 541 shares in the last quarter. Domani Wealth LLC increased its holdings in Hershey by 9.0% in the second quarter. Domani Wealth LLC now owns 6,652 shares of the company in the amount of $ 619,000 after acquiring another 551 shares in the last quarter. Finally, CENTRAL TRUST Co increased its stake in Hershey by 4.6% in the second quarter. CENTRAL TRUST Co now has 13,461 shares of the company in the amount of $ 1,253,000, after acquiring another 598 shares in the last quarter. Institutional investors own 52.73% of the company's shares.
Shares of HSY opened at $ 107.69 on Wednesday. Hershey Co has a twelve-month low of $ 89.10 and a twelve-month high of $ 115.82. The company has a debt-equity ratio of 2.60, a fast rate of 0.69 and a current ratio of 1.01. The company has a market capitalization of $ 22.20 billion, a PE ratio of 22.62, a P / E / G ratio of 2.32 and a beta of 0.17.
Hershey (NYSE: HSY) last released its results results on Thursday, October 25. The company reported earnings of $ 1.55 per share for the quarter, meeting Zacks' consensus estimate of $ 1.55. The company posted revenue of $ 2.08 billion in the quarter, compared to analysts' estimates of $ 2.08 billion. Hershey had a return on equity of 102.30% and a net margin of 13.20%. Stock analysts anticipate that Hershey Co will publish 5.37 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14. Investors registered on Wednesday, November 21, will receive a dividend of $ 0.722 per share. This represents a dividend of $ 2.89 on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is Tuesday, November 20. Hershey's payout ratio is 60.71%.
Several research companies recently evaluated HSY. Susquehanna Bancshares raised its target price at Hershey from $ 109.00 to $ 114.00 and gave the company a "neutral" rating on a report on Tuesday, October 23. The Piper Jaffray Companies set a target price of $ 105.00 for Hershey and gave the company a "hold" rating on a report on Friday, October 26. ValuEngine has upgraded Hershey from a "sale" rating to a "wait" rating in a report on Wednesday, August 15. Morgan Stanley raised its target price on Hershey from $ 93.00 to $ 98.00 and gave the company an "underweight" rating in a report on Friday, July 27. Finally, Stifel Nicolaus raised its target price on Hershey from $ 90.00 to $ 95.00 and gave the company a "hold" rating on a report on Friday, July 27. Four investment analysts rated the shares with a sell rating, twelve issued a withholding rating and two issued a buy rating for the share. Currently, the stock has a consensus rating of "Retention" and an average price target of $ 103.81.
In related news, insider Michele Buck sold 1,500 shares in a deal that took place on Monday, October 22. The stock was sold at an average price of $ 106.61 for a total transaction of $ 159,915.00. After the conclusion of the sale, the insider has directly held 170,894 shares of the company, valued at US $ 18,219,009.34. The sale was disclosed in a filing with the Securities and Exchange Commission, accessible through this link. In addition, the majority shareholder Hershey Trust Co Trustee In Tr sold 47,170 shares in a transaction that occurred on Monday, October 29. The shares were sold at an average price of US $ 106.00, for a total value of US $ 5,000,020.00. After the sale, the insider now directly owns 102,330 shares of the company, worth $ 10,846,980. The disclosure of this sale can be found here. Insiders have sold 121,716 shares of the company valued at $ 12,690,499 over the last ninety days. 0.87% of the stock is currently owned by the company's insiders.
Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and international and other. Offers chocolate and non-chocolate confectionery; gum and mint refreshment products comprising jellies, chewing gums and chewing gums; pantry items such as bakery ingredients, toppings, beverages and sundae syrups; and snack items including spreads, meat snacks, snack bars and snacks, mixes, popcorn bars and protein and biscuits.
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