New York State Common Retirement Fund Has $49.77 Million Stake in Hershey Co (HSY)

New York State Common Retirement Fund lifted its position in Hershey Co (NYSE:HSY) by 20.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 455,858 shares of the company’s stock after acquiring an additional 76,158 shares during the period. New York State Common Retirement Fund owned about 0.22% of Hershey worth $49,766,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. WFG Advisors LP increased its position in shares of Hershey by 25.2% in the second quarter. WFG Advisors LP now owns 998 shares of the company’s stock worth $107,000 after acquiring an additional 201 shares in the last quarter. Sun Life Financial INC grew its position in Hershey by 12,637.5% during the second quarter. Sun Life Financial INC now owns 1,019 shares of the company’s stock valued at $109,000 after purchasing an additional 1,011 shares in the last quarter. QCI Asset Management Inc. NY grew its position in Hershey by 10.8% during the second quarter. QCI Asset Management Inc. NY now owns 1,024 shares of the company’s stock valued at $110,000 after purchasing an additional 100 shares in the last quarter. Fiduciary Trust Co. purchased a new position in Hershey during the second quarter valued at approximately $125,000. Finally, Dupont Capital Management Corp purchased a new position in Hershey during the second quarter valued at approximately $174,000. 51.32% of the stock is currently owned by institutional investors and hedge funds.

Hershey Co (NYSE HSY) traded up $0.64 during mid-day trading on Wednesday, reaching $113.40. 192,690 shares of the company’s stock traded hands, compared to its average volume of 1,030,855. The company has a debt-to-equity ratio of 2.45, a current ratio of 0.95 and a quick ratio of 0.55. The company has a market capitalization of $23,767.56, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 3.07 and a beta of 0.39. Hershey Co has a 12 month low of $97.51 and a 12 month high of $116.49.

Hershey (NYSE:HSY) last posted its earnings results on Thursday, October 26th. The company reported $1.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.01 billion. Hershey had a net margin of 9.52% and a return on equity of 124.06%. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.29 earnings per share. sell-side analysts expect that Hershey Co will post 4.8 earnings per share for the current fiscal year.

Hershey announced that its Board of Directors has authorized a share buyback program on Thursday, October 26th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Wednesday, November 22nd will be given a $0.656 dividend. This represents a $2.62 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, November 21st. Hershey’s dividend payout ratio is 77.98%.

In other news, SVP D Michael Wege sold 15,517 shares of the business’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $108.18, for a total value of $1,678,629.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michele Buck sold 400 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $108.00, for a total transaction of $43,200.00. Following the completion of the sale, the insider now owns 164,497 shares of the company’s stock, valued at $17,765,676. The disclosure for this sale can be found here. Insiders sold 34,449 shares of company stock valued at $3,758,213 over the last three months. Insiders own 0.92% of the company’s stock.

HSY has been the topic of a number of research analyst reports. BMO Capital Markets reaffirmed a “hold” rating and set a $105.00 price objective on shares of Hershey in a research report on Friday, October 27th. Zacks Investment Research downgraded shares of Hershey from a “buy” rating to a “hold” rating in a research report on Monday, October 30th. Citigroup boosted their price objective on shares of Hershey from $126.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, October 27th. UBS lowered their price objective on shares of Hershey from $110.00 to $106.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Finally, Susquehanna Bancshares set a $113.00 price objective on shares of Hershey and gave the company a “hold” rating in a research report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $113.35.

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Hershey 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 (NYSE:HSY)

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