Hershey (HSY) Sets New 1-Year High at $116.77
Hershey Co (NYSE:HSY) shares reached a new 52-week high on Monday . The company traded as high as $116.77 and last traded at $116.64, with a volume of 8914 shares changing hands. The stock had previously closed at $116.11.
HSY has been the topic of several research analyst reports. Bank of America upgraded shares of Hershey from an “underperform” rating to a “buy” rating and lifted their target price for the company from $92.00 to $120.00 in a research report on Wednesday, December 19th. Zacks Investment Research lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Finally, ValuEngine lowered shares of Hershey from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $103.36.
The stock has a market capitalization of $24.21 billion, a price-to-earnings ratio of 21.78, a PEG ratio of 2.41 and a beta of 0.15. The company has a debt-to-equity ratio of 2.31, a quick ratio of 0.60 and a current ratio of 0.93.
In related news, CFO Patricia A. Little sold 5,433 shares of the business’s stock in a transaction dated Friday, March 29th. The shares were sold at an average price of $114.62, for a total transaction of $622,730.46. Following the transaction, the chief financial officer now directly owns 54,591 shares in the company, valued at $6,257,220.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Javier H. Idrovo sold 4,873 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $110.00, for a total transaction of $536,030.00. Following the transaction, the vice president now owns 21,436 shares in the company, valued at $2,357,960. 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 90 days. 0.87% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. raised its stake in Hershey by 8.4% during the fourth quarter. BlackRock Inc. now owns 13,764,673 shares of the company’s stock worth $1,475,299,000 after purchasing an additional 1,070,632 shares during the period. Vanguard Group Inc raised its stake in Hershey by 1.1% during the third quarter. Vanguard Group Inc now owns 10,862,696 shares of the company’s stock worth $1,107,995,000 after purchasing an additional 116,765 shares during the period. FMR LLC raised its stake in Hershey by 9.8% during the fourth quarter. FMR LLC now owns 6,142,122 shares of the company’s stock worth $658,314,000 after purchasing an additional 550,341 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Hershey by 10,179.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,456,662 shares of the company’s stock worth $32,000 after purchasing an additional 3,423,036 shares during the period. Finally, Geode Capital Management LLC raised its stake in Hershey by 12.8% during the fourth quarter. Geode Capital Management LLC now owns 2,189,376 shares of the company’s stock worth $234,317,000 after purchasing an additional 249,155 shares during the period. 52.41% of the stock is currently owned by institutional investors.
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About Hershey (NYSE:HSY)
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.
See Also: Diversification
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