Redpoint Investment Management Pty Ltd reduces its position in The Hershey Company (NYSE: HSY)


Redpoint Investment Management Pty Ltd cut its position in The Hershey Company (NYSE: HSY – Get Rating) by 4.9% in the first quarter, according to its latest submission to the Securities and Exchange Commission. The institutional investor owned 3,911 shares of the company’s shares after selling 203 shares in the quarter. Hershey’s Redpoint Investment Management Pty Ltd held $ 847,000 at the end of the last quarter.

Several other institutional investors and hedge funds have also recently bought and sold HSY shares. Norges Bank bought a new position in Hershey shares in the 4th quarter worth about $ 231,591,000. Allspring Global Investments Holdings LLC bought a new position in Hershey shares in the 4th quarter worth about $ 99,744,000. Millennium Management LLC increased its stake in Hershey by 105.2% in the 4th quarter. Millennium Management LLC now owns 624,565 shares of the company worth $ 120,835,000 after acquiring an additional 320,233 shares during the period. Virginia Retirement Systems ET AL increased its stake in Hershey by 583.7% in the 4th quarter. Virginia Retirement Systems ET AL now owns 277,600 shares of the company’s stock worth $ 53,707,000 after acquiring an additional 237,000 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in Hershey by 32.3% in the 4th quarter. Skandinaviska Enskilda Banken AB publ already owns 898,907 shares of the company’s shares worth $ 171,934,000 after acquiring an additional 219,385 shares during the period. Hedge funds and other institutional investors own 52.96% of the company’s shares.

Shares of NYSE: HSY opened at $ 220.96 on Friday. The Hershey Company has a 52-week low of $ 167.80 and a 52-week high of $ 231.60. The company has a market capitalization of $ 335.75 billion, a P / E ratio of $ 28.40, a P / E / G ratio of $ 3.49 and a beta ratio of 0.36. The stock has a 50-day moving average price of $ 216.67 and a 200-day moving average price of $ 207.51. The company has a debt to equity ratio of 1.40, a fast ratio of 0.56 and a current ratio of 0.96.

Hershey (NYSE: HSY – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $ 2.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $ 2.10 by $ 0.43. Hershey had a return on equity of 61.65% and a net profit of 17.29%. The company had revenue of $ 2.67 billion in the quarter, compared to analysts’ estimates of $ 2.49 billion. In the same quarter of the previous year, the company earned $ 1.92 EPS. Business revenues increased by 16.1% compared to the same quarter last year. On average, stock analysts predict that The Hershey Company will report 8.03 EPS for the current fiscal year.

The company also recently announced a three-month dividend, which was paid on Wednesday (June 15th). The record shareholders on Friday, May 20, received a dividend of $ 0.901. This represents a $ 3.60 annual dividend and a dividend yield of 1.63%. The date of the former dividend of this dividend was Thursday, May 19. Hershey’s dividend payout ratio is currently 46.27%.

In related news, senior vice president Jason Rayman sold 150 shares of the company’s shares in a deal on Thursday (April 7th). The shares were sold at an average price of $ 221.95, for a total value of $ 33,292.50. Following the sale, the senior vice president now owns 16,617 shares in the company worth approximately $ 3,688,143.15. The transaction is disclosed in a document submitted to the Securities and Exchange Commission, which is accessible through this link. In addition, CEO Michelle Buck sold 5,000 shares of the company’s shares in a deal on Tuesday (June 7th). The shares were sold at an average price of $ 209.15, for a total value of $ 1,045,750.00. Following the sale, the CEO now owns 185,555 shares of the company worth approximately $ 38,808,828.25. The disclosure for this sale can be found here. Over the past three months, insiders have sold a total of 15,800 shares in the company worth $ 3,455,486. Corporate insiders own 0.34% of the company’s shares.

Several stock research analysts recently weighed HSY shares. UBS Group began covering Hershey in a report on Wednesday, March 30th. They set a “neutral” rating and a target price of $ 226.00 for the company. Deutsche Bank Aktiengesellschaft increased its target price for Hershey from $ 210.00 to $ 218.00 in a report on Friday, April 29. StockNews.com upgraded Hershey’s rating from a hold to a buy rating in a report on Saturday (May 7th). Royal Bank of Canada increased its target price for Hershey from $ 214.00 to $ 237.00 in a report on Friday, April 29. Finally, BMO Capital Markets raised its target price for Hershey from $ 215.00 to $ 255.00 in a research report on Friday, April 29. Six investment analysts rated the shares with a retention rating, and nine gave the company a rating to buy. Based on MarketBeat data, the company has an average “Moderate Buying” rating and an average target price of $ 219.00.

Company profile Hershey (Get a rating)

Hershey, together with its subsidiaries, manufactures and sells confectionery and pantry items in the United States and internationally. The company operates in three segments: North American Confectionery, North American Salty Snacks and International. Offers chocolate and non-chocolate confectionery; chewing gum and refreshing mint products, including mint, chewing gum and bubble gum; closet items, such as baking ingredients, garnishes, beverages and pastry syrups; and snacks, including spreads, meat snacks, bars and snacks, mixes, popcorn and protein bars.

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Institutional property by quarter for Hershey (NYSE: HSY)



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