Bayesian Capital Management LP Takes Position in The Hershey Company (NYSE:HSY)

Bayesian Capital Management LP acquired a new stake in shares of The Hershey Company (NYSE:HSY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,902 shares of the company's stock, valued at approximately $3,709,000.

A number of other institutional investors also recently modified their holdings of HSY. UNIVEST FINANCIAL Corp lifted its holdings in Hershey by 1.5% in the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock worth $762,000 after buying an additional 68 shares during the period. OLD Point Trust & Financial Services N A increased its stake in shares of Hershey by 2.2% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock valued at $549,000 after buying an additional 70 shares during the period. Meiji Yasuda Asset Management Co Ltd. raised its holdings in shares of Hershey by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company's stock valued at $939,000 after acquiring an additional 70 shares in the last quarter. Covestor Ltd boosted its holdings in Hershey by 42.5% in the fourth quarter. Covestor Ltd now owns 238 shares of the company's stock valued at $40,000 after acquiring an additional 71 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in Hershey by 1.5% in the fourth quarter. Private Trust Co. NA now owns 5,438 shares of the company's stock valued at $921,000 after acquiring an additional 81 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Hershey Stock Down 0.7 %

NYSE HSY traded down $1.13 during mid-day trading on Wednesday, reaching $168.88. The stock had a trading volume of 2,195,273 shares, compared to its average volume of 1,771,746. The company has a fifty day moving average price of $168.56 and a 200 day moving average price of $168.66. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $211.92. The stock has a market cap of $34.18 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The firm had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the company posted $3.07 earnings per share. The company's quarterly revenue was down 13.8% on a year-over-year basis. On average, research analysts expect that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. The ex-dividend date is Friday, May 16th. Hershey's payout ratio is currently 67.57%.

Analysts Set New Price Targets

Several research firms have recently commented on HSY. Jefferies Financial Group dropped their target price on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research report on Tuesday, January 21st. Citigroup lowered their price objective on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada reduced their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group reduced their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat, Hershey presently has a consensus rating of "Hold" and an average target price of $161.40.

Hershey Profile

The Hershey Company, together with its subsidiaries, engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally. The company operates through three segments: North America Confectionery, North America Salty Snacks, and International. It offers chocolate and non-chocolate confectionery products; gum and mint refreshment products, including mints, chewing gums, and bubble gums; protein bars; pantry items, such as baking ingredients, toppings, beverages, and sundae syrups; and snack items comprising spreads, bars, snack bites, mixes, popcorn, and pretzels.