Centaurus Financial Inc. acquired a new position in shares of Hershey Co (NYSE:HSY) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,723 shares of the company’s stock, valued at approximately $423,000.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Rodgers Brothers Inc. grew its holdings in shares of Hershey by 5.6% during the third quarter. Rodgers Brothers Inc. now owns 8,900 shares of the company’s stock worth $972,000 after purchasing an additional 475 shares in the last quarter. CIBC Asset Management Inc grew its holdings in shares of Hershey by 2.6% during the third quarter. CIBC Asset Management Inc now owns 19,288 shares of the company’s stock worth $2,106,000 after purchasing an additional 495 shares in the last quarter. Fernwood Investment Management LLC grew its holdings in shares of Hershey by 10.6% during the third quarter. Fernwood Investment Management LLC now owns 5,225 shares of the company’s stock worth $570,000 after purchasing an additional 500 shares in the last quarter. Palo Capital Inc. grew its holdings in shares of Hershey by 6.9% during the fourth quarter. Palo Capital Inc. now owns 8,138 shares of the company’s stock worth $924,000 after purchasing an additional 522 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS grew its holdings in shares of Hershey by 3.3% during the third quarter. Kornitzer Capital Management Inc. KS now owns 16,640 shares of the company’s stock worth $1,817,000 after purchasing an additional 525 shares in the last quarter. 52.54% of the stock is owned by institutional investors.
Shares of Hershey Co (NYSE:HSY) opened at $97.89 on Thursday. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.96 and a quick ratio of 0.60. Hershey Co has a 12-month low of $97.62 and a 12-month high of $116.49. The firm has a market capitalization of $21,045.73, a P/E ratio of 20.99, a price-to-earnings-growth ratio of 2.15 and a beta of 0.26.
Hershey announced that its Board of Directors has authorized a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Friday, February 23rd will be given a $0.656 dividend. The ex-dividend date is Thursday, February 22nd. This represents a $2.62 annualized dividend and a yield of 2.68%. Hershey’s payout ratio is currently 71.58%.
In other Hershey news, insider Michele Buck sold 400 shares of the business’s stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $114.95, for a total value of $45,980.00. Following the completion of the sale, the insider now owns 164,097 shares in the company, valued at $18,862,950.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,200 shares of company stock valued at $133,800 in the last quarter. Corporate insiders own 0.92% of the company’s stock.
Several analysts have issued reports on the company. Morgan Stanley lowered Hershey from an “equal weight” rating to an “underweight” rating in a research note on Wednesday, January 10th. Zacks Investment Research lowered Hershey from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Citigroup upped their target price on Hershey from $126.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. JPMorgan Chase & Co. assumed coverage on Hershey in a research note on Wednesday, February 14th. They issued a “neutral” rating and a $106.00 target price for the company. Finally, Sanford C. Bernstein set a $124.00 target price on Hershey and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. Hershey has a consensus rating of “Hold” and a consensus price target of $111.44.
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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