Bridges Investment Management Inc. Boosts Holdings in Hershey Company (The) (NYSE:HSY)

Bridges Investment Management Inc. increased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,257 shares of the company's stock after buying an additional 1,915 shares during the period. Bridges Investment Management Inc.'s holdings in Hershey were worth $11,503,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Moloney Securities Asset Management LLC lifted its stake in Hershey by 166.1% in the first quarter. Moloney Securities Asset Management LLC now owns 14,616 shares of the company's stock valued at $2,500,000 after buying an additional 9,124 shares during the period. Axxcess Wealth Management LLC lifted its position in shares of Hershey by 12.7% during the 1st quarter. Axxcess Wealth Management LLC now owns 19,160 shares of the company's stock valued at $3,277,000 after acquiring an additional 2,157 shares during the period. Greenleaf Trust boosted its stake in Hershey by 12.4% during the first quarter. Greenleaf Trust now owns 11,507 shares of the company's stock worth $1,968,000 after acquiring an additional 1,270 shares in the last quarter. Yacktman Asset Management LP grew its holdings in Hershey by 20.6% in the first quarter. Yacktman Asset Management LP now owns 26,470 shares of the company's stock worth $4,527,000 after purchasing an additional 4,520 shares during the period. Finally, CORDA Investment Management LLC. increased its stake in Hershey by 10.1% in the first quarter. CORDA Investment Management LLC. now owns 95,392 shares of the company's stock valued at $16,315,000 after purchasing an additional 8,723 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Price Performance

Shares of NYSE:HSY traded down $7.59 on Wednesday, hitting $162.34. The company's stock had a trading volume of 3,520,605 shares, compared to its average volume of 1,806,606. The company has a market capitalization of $32.89 billion, a PE ratio of 20.02, a PEG ratio of 6.28 and a beta of 0.30. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. The company has a 50-day simple moving average of $165.75 and a 200 day simple moving average of $164.85. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last announced 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. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. Hershey's revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the previous year, the business posted $3.07 earnings per share. Sell-side analysts forecast that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.38%. Hershey's payout ratio is 67.57%.

Insider Activity

In related news, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the sale, the chief accounting officer owned 2,994 shares of the company's stock, valued at $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Rohit Grover sold 1,333 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $233,275.00. Following the transaction, the insider directly 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 sold 54,107 shares of company stock worth $9,008,118. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on HSY. Wall Street Zen cut shares of Hershey from a "hold" rating to a "sell" rating in a research report on Sunday. Morgan Stanley cut their price target on 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 objective on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Royal Bank Of Canada cut their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Barclays boosted their price target on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to data from MarketBeat, Hershey has an average rating of "Hold" and an average price target of $158.84.

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.