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Tootsie Roll Industries Inc. stock reached a 52-week high, hitting $36.26, reflecting a notable upward trend in its market performance. The confectionery maker, with a market capitalization of $2.63 billion and a robust current ratio of 4.21, maintains a strong financial position, earning a "GOOD" overall health rating according to InvestingPro analysis. This milestone is indicative of the company’s robust growth over the past year, marked by a significant 23.09% increase in stock value. Trading at a P/E ratio of 29.66, the stock appears fairly valued based on InvestingPro’s Fair Value assessment. The confectionery company’s strong market position and strategic initiatives may have contributed to this positive momentum, capturing investor interest and confidence. As Tootsie Roll continues to navigate the competitive landscape, its stock performance remains a focal point for market analysts and shareholders alike. The company maintains a steady 1.03% dividend yield, having consistently paid dividends for 55 consecutive years - one of several positive indicators identified by InvestingPro’s analysis.
In other recent news, Tootsie Roll Industries Inc. held its Annual Meeting of Shareholders, where all proposed items were approved. The meeting, detailed in a recent SEC filing, included the election of directors and the ratification of the company’s independent auditor. Ellen R. Gordon, Virginia L. Gordon, Lana Jane Lewis-Brent, Michael A. Chodos, and Paula M. Wardynski were elected to the Board of Directors, with each receiving a majority of votes in favor. Shareholders also ratified the appointment of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025. This decision was made with 333,624,818 votes in favor and 4,634,815 against. The approval of these proposals indicates shareholder confidence in Tootsie Roll’s current management and strategic direction. The SEC filing was signed by G. Howard Ember, Jr., Vice President Finance and Chief Financial Officer, ensuring compliance with regulatory requirements.
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