Zurich Insurance Group Ltd FI Buys New Shares in The Hershey Company (NYSE:HSY)

Zurich Insurance Group Ltd FI acquired a new stake in The Hershey Company (NYSE:HSY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 10,200 shares of the company's stock, valued at approximately $1,727,000.

A number of other large investors also recently made changes to their positions in HSY. Capital International Investors increased its stake in shares of Hershey by 31.4% during the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after purchasing an additional 2,980,997 shares during the period. Raymond James Financial Inc. acquired a new position in Hershey during the 4th quarter worth about $80,978,000. Charles Schwab Investment Management Inc. lifted its holdings in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares during the period. Freestone Grove Partners LP acquired a new position in Hershey during the 4th quarter worth about $27,902,000. Finally, Northern Trust Corp lifted its stake in shares of Hershey by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock valued at $267,396,000 after purchasing an additional 154,238 shares during the period. Institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

Shares of NYSE:HSY traded up $1.65 during trading on Friday, hitting $155.51. 1,907,607 shares of the company were exchanged, compared to its average volume of 1,787,251. The company has a market cap of $31.51 billion, a PE ratio of 14.27, a P/E/G ratio of 5.90 and a beta of 0.32. The stock has a 50 day moving average of $164.77 and a 200 day moving average of $167.01. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the business posted $3.07 earnings per share. The firm's revenue was down 13.8% compared to the same quarter last year. As a group, equities research analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be given a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.52%. Hershey's dividend payout ratio (DPR) is presently 67.57%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on HSY shares. Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus decreased their price objective on Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a report on Friday, February 7th. DA Davidson boosted their price objective on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a report on Monday, May 5th. Wells Fargo & Company upped their target price on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Finally, Bernstein Bank reduced their target price on Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat, the stock 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.