Macnealy Hoover Investment Management Inc Lowers stake in Hershey Co (HSY)

Hershey Co (HSY) : Macnealy Hoover Investment Management Inc reduced its stake in Hershey Co by 1.06% during the most recent quarter end. The investment management company now holds a total of 32,512 shares of Hershey Co which is valued at $3,599,078 after selling 348 shares in Hershey Co , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.Hershey Co makes up approximately 0.68% of Macnealy Hoover Investment Management Inc’s portfolio.

Other Hedge Funds, Including , British Columbia Investment Management Corp reduced its stake in HSY by selling 68,365 shares or 56.46% in the most recent quarter. The Hedge Fund company now holds 52,728 shares of HSY which is valued at $5,836,990. Hershey Co makes up approx 0.05% of British Columbia Investment Management Corp’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in HSY in the latest quarter, The investment management firm added 35,718 additional shares and now holds a total of 85,726 shares of Hershey Co which is valued at $9,489,868. Hershey Co makes up approx 0.04% of Bnp Paribas Arbitrage Sa’s portfolio.Cullinan Associates Inc reduced its stake in HSY by selling 60 shares or 1.55% in the most recent quarter. The Hedge Fund company now holds 3,800 shares of HSY which is valued at $425,410. Hershey Co makes up approx 0.03% of Cullinan Associates Inc’s portfolio.

Hershey Co closed down -0.41 points or -0.38% at $108.33 with 11,30,318 shares getting traded on Wednesday. Post opening the session at $108.54, the shares hit an intraday low of $108.19 and an intraday high of $109.59 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Hershey Co reported $1.10 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $1.07. The company had revenue of $1828.80 million for the quarter, compared to analysts expectations of $1902.96 million. The company’s revenue was down -5.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.09 EPS.

Many Wall Street Analysts have commented on Hershey Co. Hershey Co was Downgraded by Argus to ” Hold” on Jul 5, 2016. Shares were Reiterated by UBS on Apr 27, 2016 to “Neutral” and Lowered the Price Target to $ 92 from a previous price target of $94 .Hershey Co was Downgraded by BofA/Merrill to ” Underperform” on Apr 20, 2016.

The Hershey Company (Hershey) is a provider of chocolate and sugar confectionery. The Company’s principal confectionery offerings include chocolate and sugar confectionery products; pantry items such as baking ingredients toppings and beverages; snack items such as spreads and gum and mint refreshment products. The Company operates through two segments: North America and International and Other. The North America segment is responsible for its chocolate and sugar confectionery business in the United States and Canada. The International and Other segment includes all other countries where the Company manufactures imports markets sells or distributes chocolate sugar confectionery and other products. This includes operations in Asia Latin America Europe Africa and the Middle East along with exports to these regions. This segment also includes its global retail operations including Hershey’s Chocolate World stores.

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