Hutchens Investment Management Inc Lowers stake in Hershey Co (HSY)

Hershey Co (HSY) : Hutchens Investment Management Inc reduced its stake in Hershey Co by 17.69% during the most recent quarter end. The investment management company now holds a total of 23,727 shares of Hershey Co which is valued at $2,644,849 after selling 5,099 shares in Hershey Co , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Hershey Co makes up approximately 2.43% of Hutchens Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Vanguard Group Inc boosted its stake in HSY in the latest quarter, The investment management firm added 19,120 additional shares and now holds a total of 8,869,693 shares of Hershey Co which is valued at $988,704,679. Hershey Co makes up approx 0.06% of Vanguard Group Inc’s portfolio.Norinchukin Bank The boosted its stake in HSY in the latest quarter, The investment management firm added 5,610 additional shares and now holds a total of 137,002 shares of Hershey Co which is valued at $15,349,704. Hershey Co makes up approx 0.36% of Norinchukin Bank The’s portfolio. Putnam Fl Investment Management Co added HSY to its portfolio by purchasing 1,815 company shares during the most recent quarter which is valued at $200,521. Hershey Co makes up approx 0.02% of Putnam Fl Investment Management Co’s portfolio.Gofen Glossberg Il reduced its stake in HSY by selling 17 shares or 0.07% in the most recent quarter. The Hedge Fund company now holds 25,047 shares of HSY which is valued at $2,713,342. Hershey Co makes up approx 0.11% of Gofen Glossberg Il’s portfolio.Davenport Co reduced its stake in HSY by selling 318,305 shares or 98.27% in the most recent quarter. The Hedge Fund company now holds 5,604 shares of HSY which is valued at $607,081. Hershey Co makes up approx 0.01% of Davenport Co’s portfolio.

Hershey Co opened for trading at $112.93 and hit $114.12 on the upside on Friday, eventually ending the session at $113.62, with a gain of 0.49% or 0.55 points. The heightened volatility saw the trading volume jump to 25,64,938 shares. Company has a market cap of $24,223 M.

On the company’s financial health, Hershey Co reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.07 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.78. The company had revenue of $1637.70 million for the quarter, compared to analysts expectations of $1608.86 million. The company’s revenue was up 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.

Many Wall Street Analysts have commented on Hershey Co. Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 105 from a previous price target of $92 .Hershey Co was Downgraded by Argus to ” Hold” on Jul 5, 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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