Bank Julius Baer & Co. Ltd Zurich Has $9.06 Million Stock Position in Hershey Company (The) $HSY

Key Points

• Bank Julius Baer & Co. Ltd Zurich cut its Hershey stake by 12.9% in the fourth quarter, selling 7,381 shares and ending with 49,755 shares valued at about $9.06 million.
• Hershey reported better-than-expected quarterly results, with EPS of $2.35 versus $2.04 expected and revenue of $3.10 billion, up 10.7% year over year.
• The company also announced a quarterly dividend of $1.452 per share, implying a 3.1% yield, while analysts currently rate the stock a consensus "Hold" with a $218.33 price target.

Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,755 shares of the company's stock after selling 7,381 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Hershey were worth $9,064,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HSY. JPL Wealth Management LLC acquired a new stake in Hershey in the third quarter valued at $26,000. Laurel Wealth Advisors LLC acquired a new position in shares of Hershey during the 4th quarter worth about $27,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Hershey in the 3rd quarter valued at about $35,000. Atlantic Edge Private Wealth Management LLC acquired a new stake in Hershey in the 4th quarter valued at about $42,000. Finally, Close Asset Management Ltd lifted its stake in Hershey by 339.3% in the 3rd quarter. Close Asset Management Ltd now owns 246 shares of the company's stock valued at $46,000 after purchasing an additional 190 shares during the last quarter. 57.96% of the stock is owned by institutional investors.

Insider Transactions at Hershey

In related news, insider Rohit Grover sold 3,500 shares of the company's stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $226.07, for a total transaction of $791,245.00. Following the completion of the transaction, the insider directly owned 34,568 shares in the company, valued at $7,814,787.76. This represents a 9.19% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jason Reiman sold 2,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $226.07, for a total transaction of $452,140.00. Following the completion of the transaction, the senior vice president directly owned 41,036 shares of the company's stock, valued at approximately $9,277,008.52. The trade was a 4.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 10,000 shares of company stock valued at $2,189,090. 0.08% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on HSY shares. TD Cowen raised Hershey from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Friday, May 1st. Evercore reaffirmed an "outperform" rating on shares of Hershey in a research report on Friday, February 6th. Zacks Research downgraded Hershey from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Hershey from $212.00 to $200.00 and set a "hold" rating on the stock in a report on Monday, March 30th. Finally, Stifel Nicolaus dropped their price target on Hershey from $230.00 to $215.00 and set a "hold" rating on the stock in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hershey currently has an average rating of "Hold" and a consensus price target of $218.33.

Hershey Trading Down 2.9%

HSY opened at $190.04 on Friday. The stock has a market capitalization of $38.55 billion, a price-to-earnings ratio of 35.39, a P/E/G ratio of 1.17 and a beta of 0.07. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Hershey Company has a twelve month low of $150.04 and a twelve month high of $239.48. The company has a 50-day simple moving average of $203.53 and a 200 day simple moving average of $196.98.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates of $2.04 by $0.31. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the business posted $2.09 EPS. The company's revenue was up 10.7% compared to the same quarter last year. Analysts predict that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.1%. Hershey's payout ratio is presently 108.19%.

Hershey Company Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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