First Long Island Investors Lowers stake in Hershey Co (HSY)

Hershey Co (HSY) : First Long Island Investors reduced its stake in Hershey Co by 13.99% during the most recent quarter end. The investment management company now holds a total of 90,476 shares of Hershey Co which is valued at $8,949,886 after selling 14,722 shares in Hershey Co , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Hershey Co makes up approximately 1.64% of First Long Island Investors’s portfolio.

Other Hedge Funds, Including , Tcw Group Inc reduced its stake in HSY by selling 950 shares or 3.68% in the most recent quarter. The Hedge Fund company now holds 24,897 shares of HSY which is valued at $2,462,811. Hershey Co makes up approx 0.02% of Tcw Group Inc’s portfolio.Bokf Na reduced its stake in HSY by selling 1,648 shares or 33.01% in the most recent quarter. The Hedge Fund company now holds 3,344 shares of HSY which is valued at $325,271. Hershey Co makes up approx 0.01% of Bokf Na’s portfolio.Liberty Mutual Group Asset Management boosted its stake in HSY in the latest quarter, The investment management firm added 2,561 additional shares and now holds a total of 10,759 shares of Hershey Co which is valued at $1,046,528. Hershey Co makes up approx 0.04% of Liberty Mutual Group Asset Management’s portfolio.New York State Common Retirement Fund reduced its stake in HSY by selling 16,525 shares or 3.91% in the most recent quarter. The Hedge Fund company now holds 406,175 shares of HSY which is valued at $41,267,380. Hershey Co makes up approx 0.06% of New York State Common Retirement Fund’s portfolio.

Hershey Co closed down -0.6 points or -0.61% at $98.56 with 12,18,231 shares getting traded on Monday. Post opening the session at $98.96, the shares hit an intraday low of $97.91 and an intraday high of $99.63 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Hershey Co reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 28, 2016. Analyst had a consensus of $1.18. The company had revenue of $2003.50 million for the quarter, compared to analysts expectations of $1993.50 million. The company’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS.

Many Wall Street Analysts have commented on Hershey Co. Company shares were Reiterated by Stifel on Oct 31, 2016 to “Hold”, Firm has raised the Price Target to $ 97 from a previous price target of $94 .Hershey Co was Upgraded by Citigroup to ” Buy” on Oct 27, 2016. Hershey Co was Initiated by Susquehanna to “Neutral” on Oct 25, 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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