Hershey Co (NYSE:HSY) insider has recently participated in insider trading activity. SVP, CAO, Wege D Michael sold 1,100 shares for $90.00 via one transaction Feb 16. Following the transaction, the insider now owns 24,250 shares in total, priced at $2194382.5 as of Thursday. Another notable insider trading was done by the same insider on Feb 01. Wege D Michael acquired 1,100 shares at an average price of $90.00 for a total of $24,350. Moreover, this insider carried out a sale of 1,100 shares at $90.28 each on Dec 24. The transaction amounted to $99,308. SVP Chief HR Officer WALLING KEVIN R sold 3,000 shares for $90.00 through one transaction Aug 28. Following this sale, this insider’s stake in the company comprises 20,165 shares, priced at $1824730.85 as of Thursday.
The stock has experienced a total of 27 insider trades in the past three months. These trades include 8 sell activities and 19 buy trades. Furthermore, over the past 12 months, the stock was traded 85 times by insiders. In 27 of these trades, the insider was a seller while an employee of the company was the buyer in just 58 instances.
On January 28, 2016 Hershey Co (HSY) announced sales and earnings for the fourth quarter ended December 31, 2015. Consolidated net sales were $1,909.2 million compared with $2,010.0 million for the fourth quarter of 2014. Reported net income for the fourth quarter of 2015 was $213.4 million or $0.98 per share-diluted, compared with $202.5 million or $0.91 per share-diluted for the comparable period of 2014.
“We made progress against our strategic initiatives in 2015, generated solid gross margin expansion in North America and largely maintained our overall U.S. candy, mint and gum (CMG) market share as retail takeaway on our U.S. core brands increased,” said John P. Bilbrey, Chairman, President and Chief Executive Officer, The Hershey Company. “The Krave meat snacks business and integration is on plan and the Reese’s Snack Mix, Hershey’s Snack Bites and Brookside dark chocolate fruit and nut bar launches are in line with expectations. We are listening to consumers and their changing preferences with respect to simple ingredients and transparency. During the fourth-quarter holiday season we nationally debuted Holiday Hershey’s Kisses Milk Chocolates and Hershey’s Milk Chocolate Bars, made with simple ingredients and no artificial flavors. These are some of the first products from Hershey to transition to simpler ingredients, a commitment announced last year. Holiday Hershey’s Kisses Milk Chocolates packages were also the first to pilot the SmartLabel, which allows consumers to scan a QR code and instantly access detailed product information, from ingredient and nutrition facts to allergens. Our solid balance sheet and continued strong cash flow generation enabled us to return nearly $900 million to shareholders through a 9% dividend increase and meaningful share repurchase activity. Additionally, earlier today we announced that the Board of Directors has approved a new $500 million stock repurchase authorization.”
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