Callahan Advisors Exits Position in Hershey Co (HSY)

Hershey Co (HSY) : Callahan Advisors has sold out all of its stake in Hershey Co during the most recent quarter, according to the disclosure filed by the company on Oct 14, 2016 with the SEC. The investment management company has sold out 3,000 shares of Hershey Co which is valued at $289,290.

Other Hedge Funds, Including , National Pension Service boosted its stake in HSY in the latest quarter, The investment management firm added 9,729 additional shares and now holds a total of 114,174 shares of Hershey Co which is valued at $11,009,799. Hershey Co makes up approx 0.09% of National Pension Service’s portfolio.Ct Financial Advisors reduced its stake in HSY by selling 1,000 shares or 83.33% in the most recent quarter. The Hedge Fund company now holds 200 shares of HSY which is valued at $18,926. Hershey Co makes up approx 0.01% of Ct Financial Advisors’s portfolio. Pacwest Financial Management Inc added HSY to its portfolio by purchasing 8,515 company shares during the most recent quarter which is valued at $813,949. Hershey Co makes up approx 0.50% of Pacwest Financial Management Inc’s portfolio.Simplex Trading boosted its stake in HSY in the latest quarter, The investment management firm added 34,726 additional shares and now holds a total of 62,635 shares of Hershey Co which is valued at $5,963,478. Hershey Co makes up approx 0.78% of Simplex Trading’s portfolio.

Hershey Co opened for trading at $95.95 and hit $97.18 on the upside on Friday, eventually ending the session at $96.43, with a gain of 0.82% or 0.78 points. The heightened volatility saw the trading volume jump to 15,66,730 shares. Company has a market cap of $20,558 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.

Investors should note that on Oct 14, 2016, Hershey Co announced a cash dividend of $0.6180. The company’s management has announced Nov 21, 2016 as the ex-dividend date and fixed the record date on Nov 23, 2016. The payable date has been fixed on Dec 15, 2016.

Many Wall Street Analysts have commented on Hershey Co. Hershey Co was Resumed by JP Morgan to “Neutral” on Sep 6, 2016. BofA/Merrill Resumed Hershey Co on Aug 30, 2016 to “Underperform”, Price Target of the shares are set at $100.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 .

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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