Old North State Trust LLC Has $31,000 Position in Hershey Co (HSY)

Old North State Trust LLC cut its stake in Hershey Co (NYSE:HSY) by 43.5% during the 1st quarter, Holdings Channel reports. The fund owned 273 shares of the company’s stock after selling 210 shares during the period. Old North State Trust LLC’s holdings in Hershey were worth $31,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bremer Trust National Association bought a new stake in Hershey in the fourth quarter valued at approximately $29,000. Claybrook Capital LLC bought a new stake in Hershey in the fourth quarter valued at approximately $29,000. Csenge Advisory Group bought a new stake in Hershey in the third quarter valued at approximately $31,000. Acima Private Wealth LLC bought a new stake in Hershey in the fourth quarter valued at approximately $33,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new stake in Hershey in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 52.41% of the company’s stock.

Shares of HSY opened at $116.31 on Thursday. Hershey Co has a 52-week low of $89.10 and a 52-week high of $116.73. The company has a current ratio of 0.93, a quick ratio of 0.60 and a debt-to-equity ratio of 2.31. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 2.41 and a beta of 0.15.

Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, January 31st. The company reported $1.26 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.27 by ($0.01). Hershey had a net margin of 15.11% and a return on equity of 95.97%. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period last year, the firm posted $1.03 earnings per share. Equities analysts predict that Hershey Co will post 5.66 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 22nd were given a dividend of $0.722 per share. This represents a $2.89 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date was Thursday, February 21st. Hershey’s payout ratio is 53.92%.

In other news, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of $108.19, for a total transaction of $162,285.00. Following the transaction, the chief executive officer now directly owns 166,394 shares of the company’s stock, valued at $18,002,166.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Patricia A. Little sold 19,779 shares of the company’s stock in a transaction that occurred on Monday, February 25th. The stock was sold at an average price of $109.30, for a total value of $2,161,844.70. Following the transaction, the chief financial officer now directly owns 36,049 shares in the company, valued at $3,940,155.70. The disclosure for this sale can be found here. Insiders have sold 34,585 shares of company stock worth $3,811,555 over the last ninety days. 0.87% of the stock is owned by insiders.

Several analysts recently commented on HSY shares. ValuEngine upgraded Hershey from a “hold” rating to a “buy” rating in a report on Wednesday, December 12th. Bank of America raised Hershey from an “underperform” rating to a “buy” rating and boosted their price target for the company from $92.00 to $120.00 in a research note on Wednesday, December 19th. Finally, Zacks Investment Research raised Hershey from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Monday, December 31st. Three analysts have rated the stock with a sell rating, ten have given a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $103.36.

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Hershey Profile

The Hershey Company, together with its subsidiaries, manufactures and sells confectionery products. The company operates through two segments, North America; and International and Other. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products comprising mints, chewing gums, and bubble gums; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items, including spreads, meat snacks, bars and snack bites, mixes, popcorn and protein bars, and cookies.

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Institutional Ownership by Quarter for Hershey (NYSE:HSY)

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