Abacus Planning Group Inc. Takes Position in The Hershey Company (NYSE:HSY)

Abacus Planning Group Inc. bought a new position in The Hershey Company (NYSE:HSY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,648 shares of the company's stock, valued at approximately $282,000.

Other hedge funds have also made changes to their positions in the company. Montag & Caldwell LLC bought a new stake in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new position in shares of Hershey in the 4th quarter worth approximately $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Hershey in the 4th quarter worth approximately $28,000. Mpwm Advisory Solutions LLC bought a new stake in Hershey during the 4th quarter worth approximately $28,000. Finally, Vision Financial Markets LLC acquired a new stake in Hershey during the 4th quarter valued at $29,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Performance

HSY stock opened at $161.83 on Monday. The Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The firm has a market cap of $32.79 billion, a PE ratio of 14.85, a P/E/G ratio of 5.90 and a beta of 0.29. The business's 50-day moving average price is $163.17 and its two-hundred day moving average price is $165.80.

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, beating the consensus estimate of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same quarter in the previous year, the business posted $3.07 EPS. Hershey's revenue for the quarter was down 13.8% on a year-over-year basis. As a group, research analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.39%. The ex-dividend date is Friday, May 16th. Hershey's dividend payout ratio is 67.57%.

Insider Buying and Selling

In other Hershey news, CAO Jennifer Mccalman sold 974 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the transaction, the chief accounting officer now owns 2,994 shares in the company, valued at approximately $470,387.34. This represents a 24.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction dated 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 owns 193,624 shares in the company, valued at approximately $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Morgan Stanley decreased their price objective on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Citigroup decreased their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays raised their price target on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a report on Monday, May 5th. UBS Group dropped their price objective 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. Finally, DA Davidson increased their price objective on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Five equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. According to MarketBeat.com, Hershey currently has a consensus rating of "Hold" and a consensus target price of $158.84.

Hershey Company 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.

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Hershey Company (NYSE:HSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.