The Hershey Company (NYSE:HSY) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its stake in The Hershey Company (NYSE:HSY - Free Report) by 1,320.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,493 shares of the company's stock after purchasing an additional 41,361 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Hershey were worth $7,610,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC grew its position in shares of Hershey by 92.5% in the first quarter. SG Americas Securities LLC now owns 8,815 shares of the company's stock valued at $1,508,000 after purchasing an additional 4,236 shares during the period. MADDEN SECURITIES Corp acquired a new stake in shares of Hershey in the first quarter valued at about $206,000. GAMMA Investing LLC lifted its stake in shares of Hershey by 7.7% in the first quarter. GAMMA Investing LLC now owns 5,909 shares of the company's stock worth $1,011,000 after buying an additional 420 shares in the last quarter. Bruce G. Allen Investments LLC boosted its position in Hershey by 15.8% during the first quarter. Bruce G. Allen Investments LLC now owns 1,010 shares of the company's stock worth $173,000 after acquiring an additional 138 shares during the last quarter. Finally, International Private Wealth Advisors LLC boosted its position in Hershey by 17.0% during the first quarter. International Private Wealth Advisors LLC now owns 1,634 shares of the company's stock worth $279,000 after acquiring an additional 238 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Down 1.8%

Shares of Hershey stock traded down $3.06 during trading hours on Friday, hitting $169.06. The company had a trading volume of 1,834,351 shares, compared to its average volume of 1,795,971. The company's 50-day moving average is $163.77 and its two-hundred day moving average is $165.67. The Hershey Company has a twelve month low of $140.13 and a twelve month 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. The company has a market cap of $34.25 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 5.90 and a beta of 0.29.

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

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued 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 3.24%. Hershey's dividend payout ratio is presently 67.57%.

Analyst Ratings Changes

HSY has been the topic of a number of recent research reports. Mizuho lowered their price target on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Barclays boosted their price target on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Royal Bank of Canada lowered their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Citigroup lowered their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, DA Davidson boosted their price target on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $158.84.

Insider Activity

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

About Hershey

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.