44 Wealth Management LLC boosted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 14.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,794 shares of the company's stock after acquiring an additional 2,407 shares during the period. Hershey comprises 1.2% of 44 Wealth Management LLC's investment portfolio, making the stock its 15th biggest holding. 44 Wealth Management LLC's holdings in Hershey were worth $3,214,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital International Investors lifted its position in shares of Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after buying an additional 2,980,997 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Hershey by 18,311.7% during the 1st quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock worth $1,728,460,000 after buying an additional 1,005,127 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hershey during the 4th quarter worth approximately $80,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares during the last quarter. Finally, Value Partners Investments Inc. raised its position in Hershey by 1,266.3% in the 1st quarter. Value Partners Investments Inc. now owns 214,794 shares of the company's stock valued at $36,777,000 after purchasing an additional 199,073 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.
Analyst Ratings Changes
HSY has been the subject of several research reports. Morgan Stanley reduced their price target on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research report on Thursday, April 17th. Wells Fargo & Company upped their price target on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. UBS Group reduced their price target on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Barclays upped their price target on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Finally, Sanford C. Bernstein upped their price target on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $158.84.
Check Out Our Latest Analysis on Hershey
Insider Activity at Hershey
In other news, SVP James Turoff sold 1,300 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the completion of the transaction, the senior vice president owned 25,321 shares in the company, valued at $4,431,175. This trade represents a 4.88% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Rohit Grover sold 1,333 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $233,275.00. Following the completion of the transaction, the insider owned 39,402 shares of the company's stock, valued at $6,895,350. This represents a 3.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,107 shares of company stock worth $9,008,118. 0.34% of the stock is owned by company insiders.
Hershey Stock Performance
Hershey stock traded down $4.08 during trading hours on Friday, reaching $173.00. 733,761 shares of the stock were exchanged, compared to its average volume of 1,796,402. The stock has a market cap of $35.05 billion, a P/E ratio of 21.33, a P/E/G ratio of 6.52 and a beta of 0.30. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.11 and a current ratio of 1.59. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The firm's 50 day moving average is $165.42 and its 200 day moving average is $164.80.
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. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business's revenue was down 13.8% compared to the same quarter last year. During the same quarter last year, the firm posted $3.07 EPS. Analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.
Hershey Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.17%. Hershey's dividend payout ratio is presently 67.57%.
Hershey Profile
(
Free Report)
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.
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