Davis Investment Partners LLC Makes New Investment in The Hershey Company (NYSE:HSY)

Davis Investment Partners LLC bought a new stake in shares of The Hershey Company (NYSE:HSY - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,865 shares of the company's stock, valued at approximately $488,000.

Other large investors have also recently made changes to their positions in the company. Montag & Caldwell LLC purchased a new stake in shares of Hershey during the 4th quarter valued at $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey during the 4th quarter valued at $25,000. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey during the 4th quarter valued at $28,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Hershey during the 4th quarter valued at $28,000. Finally, Vision Financial Markets LLC purchased a new stake in shares of Hershey during the 4th quarter valued at $29,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

HSY traded up $4.28 during midday trading on Thursday, reaching $172.33. The company had a trading volume of 2,227,596 shares, compared to its average volume of 1,790,379. The company has a market cap of $34.91 billion, a P/E ratio of 15.81, a P/E/G ratio of 5.90 and a beta of 0.29. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average of $163.38 and a two-hundred day moving average of $165.78. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. The firm had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business's quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.07 earnings per share. As a group, equities research analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date of this dividend is Friday, May 16th. Hershey's payout ratio is presently 67.57%.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the sale, the chief accounting officer now directly owns 2,994 shares of the company's stock, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michele Buck sold 31,210 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the sale, the chief executive officer now directly owns 193,624 shares of the company's stock, valued at $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.28% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HSY. Morgan Stanley cut their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. DA Davidson increased their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Citigroup cut their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Barclays increased their price target on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $158.84.

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.