Pioneer Investment Management Inc buys $424,331,511 stake in Hershey Co (HSY)

Hershey Co (HSY) : Pioneer Investment Management Inc scooped up 73,507 additional shares in Hershey Co during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 3,806,688 shares of Hershey Co which is valued at $424,331,511.Hershey Co makes up approximately 1.50% of Pioneer Investment Management Inc’s portfolio.

Other Hedge Funds, Including , Wetherby Asset Management Inc boosted its stake in HSY in the latest quarter, The investment management firm added 84 additional shares and now holds a total of 2,272 shares of Hershey Co which is valued at $253,260. Hershey Co makes up approx 0.05% of Wetherby Asset Management Inc’s portfolio. Profit Investment Management sold out all of its stake in HSY during the most recent quarter. The investment firm sold 53,396 shares of HSY which is valued $5,870,890.Murphy Capital Management Inc reduced its stake in HSY by selling 2,170 shares or 9.78% in the most recent quarter. The Hedge Fund company now holds 20,025 shares of HSY which is valued at $2,185,128. Hershey Co makes up approx 0.33% of Murphy Capital Management Inc’s portfolio.First Manhattan Co reduced its stake in HSY by selling 11,363 shares or 46.24% in the most recent quarter. The Hedge Fund company now holds 13,211 shares of HSY which is valued at $1,444,887. Hershey Co makes up approx 0.01% of First Manhattan 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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