New York State Teachers Retirement System lessened its holdings in shares of Hershey Co (NYSE:HSY) by 3.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 179,935 shares of the company’s stock after selling 6,075 shares during the period. New York State Teachers Retirement System’s holdings in Hershey were worth $20,662,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bremer Trust National Association acquired a new stake in shares of Hershey in the 4th quarter worth approximately $29,000. Claybrook Capital LLC acquired a new stake in shares of Hershey in the 4th quarter worth approximately $29,000. Cornerstone Advisors Inc. lifted its stake in shares of Hershey by 37.3% in the 1st quarter. Cornerstone Advisors Inc. now owns 302 shares of the company’s stock worth $35,000 after acquiring an additional 82 shares during the period. Acima Private Wealth LLC acquired a new stake in Hershey during the fourth quarter valued at approximately $33,000. Finally, Patriot Financial Group Insurance Agency LLC acquired a new stake in Hershey during the fourth quarter valued at approximately $36,000. 53.61% of the stock is owned by institutional investors and hedge funds.
In other Hershey news, VP Javier H. Idrovo sold 4,873 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $110.00, for a total value of $536,030.00. Following the transaction, the vice president now owns 21,436 shares in the company, valued at approximately $2,357,960. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $117.00, for a total transaction of $175,500.00. Following the completion of the transaction, the chief executive officer now owns 161,429 shares in the company, valued at approximately $18,887,193. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,082,011 shares of company stock worth $385,916,058. Company insiders own 0.41% of the company’s stock.
Shares of NYSE:HSY opened at $128.90 on Monday. The company has a debt-to-equity ratio of 2.27, a current ratio of 0.92 and a quick ratio of 0.59. The company has a market capitalization of $26.91 billion, a P/E ratio of 24.05, a PEG ratio of 2.83 and a beta of 0.18. Hershey Co has a 52 week low of $89.29 and a 52 week high of $129.67.
Hershey (NYSE:HSY) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.59 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.48 by $0.11. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. Hershey had a net margin of 14.44% and a return on equity of 90.64%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.41 EPS. On average, research analysts expect that Hershey Co will post 5.7 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 14th. Shareholders of record on Friday, May 24th will be paid a $0.722 dividend. The ex-dividend date is Thursday, May 23rd. This represents a $2.89 annualized dividend and a yield of 2.24%. Hershey’s dividend payout ratio is presently 53.92%.
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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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