Bessemer Group Inc. Has $34.24 Million Holdings in Hershey Company (The) $HSY

Key Points

• Bessemer Group Inc. trimmed its Hershey stake by 4.2% in the fourth quarter, selling 8,279 shares and ending with 188,137 shares worth about $34.24 million.
• Hershey reported strong quarterly results, with EPS of $2.35 beating estimates and revenue of $3.10 billion, up 10.7% year over year.
• The company declared a quarterly dividend of $1.452 per share to be paid June 15, implying an annualized yield of 3.1%, while analysts currently rate the stock a Hold on consensus.

Bessemer Group Inc. cut its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 188,137 shares of the company's stock after selling 8,279 shares during the quarter. Bessemer Group Inc. owned 0.09% of Hershey worth $34,237,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in HSY. First Trust Advisors LP lifted its stake in Hershey by 240.0% in the third quarter. First Trust Advisors LP now owns 1,262,671 shares of the company's stock valued at $236,183,000 after buying an additional 891,287 shares during the period. Envestnet Asset Management Inc. lifted its stake in Hershey by 121.2% in the third quarter. Envestnet Asset Management Inc. now owns 1,104,299 shares of the company's stock valued at $206,559,000 after buying an additional 605,048 shares during the period. Candlestick Capital Management LP acquired a new position in Hershey in the third quarter valued at approximately $64,469,000. Clark Capital Management Group Inc. acquired a new position in Hershey in the third quarter valued at approximately $44,464,000. Finally, Vanguard Group Inc. lifted its stake in Hershey by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company's stock valued at $3,469,855,000 after buying an additional 191,671 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Monday, April 20th. The stock was sold at an average price of $194.10, for a total transaction of $291,150.00. Following the completion of the sale, the chief financial officer owned 57,695 shares in the company, valued at approximately $11,198,599.50. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Rohit Grover sold 3,500 shares of the company's stock in a transaction on Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $791,245.00. Following the sale, the insider owned 34,568 shares of the company's stock, valued at $7,814,787.76. This trade represents a 9.19% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 10,000 shares of company stock worth $2,189,090. 0.08% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Royal Bank Of Canada reissued a "sector perform" rating and issued a $185.00 price target on shares of Hershey in a research note on Tuesday, February 3rd. Stephens boosted their price target on Hershey from $200.00 to $260.00 and gave the company an "overweight" rating in a research note on Thursday, February 12th. DA Davidson lowered their target price on Hershey from $230.00 to $208.00 and set a "neutral" rating on the stock in a research report on Monday, May 4th. Barclays lowered their target price on Hershey from $225.00 to $220.00 and set an "equal weight" rating on the stock in a research report on Monday, May 4th. Finally, Evercore reaffirmed an "outperform" rating on shares of Hershey in a research report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $218.33.

Hershey Price Performance

Shares of NYSE:HSY opened at $186.84 on Friday. 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 stock's 50 day moving average is $202.63 and its 200-day moving average is $196.91. The firm has a market capitalization of $37.90 billion, a price-to-earnings ratio of 34.79, a PEG ratio of 1.12 and a beta of 0.07.

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, topping 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 company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the firm earned $2.09 earnings per share. Hershey's revenue for the quarter was up 10.7% on a year-over-year basis. Sell-side analysts forecast that Hershey Company will post 8.45 EPS for the current fiscal year.

Hershey Announces Dividend

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