Commonwealth Equity Services LLC Purchases 4,544 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Commonwealth Equity Services LLC has increased its stake in Hershey Company (NYSE: HSY) by 5.3%, now holding 89,964 shares valued at approximately $15.39 million.
• Several other institutional investors, including Capital International Investors and UBS AM, have also significantly increased their positions in Hershey during the latest reporting period.
• Hershey recently announced a quarterly dividend of $1.37 per share, reflecting a 2.9% annualized yield.

Commonwealth Equity Services LLC increased its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,964 shares of the company's stock after purchasing an additional 4,544 shares during the period. Commonwealth Equity Services LLC's holdings in Hershey were worth $15,387,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in Hershey during the 4th quarter worth $5,618,000. World Investment Advisors acquired a new stake in Hershey during the 4th quarter worth $221,000. Invesco Ltd. grew its holdings in Hershey by 7.3% during the 4th quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock worth $217,222,000 after acquiring an additional 87,498 shares during the period. Bank of Nova Scotia grew its holdings in Hershey by 4.7% during the 4th quarter. Bank of Nova Scotia now owns 19,782 shares of the company's stock worth $3,350,000 after acquiring an additional 885 shares during the period. Finally, Azimuth Capital Investment Management LLC grew its holdings in Hershey by 24.4% during the 4th quarter. Azimuth Capital Investment Management LLC now owns 17,860 shares of the company's stock worth $3,025,000 after acquiring an additional 3,505 shares during the period. Institutional investors own 57.96% of the company's stock.

Hershey Stock Down 1.8%

NYSE HSY traded down $3.29 on Friday, reaching $184.21. The company had a trading volume of 1,655,457 shares, compared to its average volume of 1,824,238. The firm has a market capitalization of $37.34 billion, a price-to-earnings ratio of 24.46, a price-to-earnings-growth ratio of 4.45 and a beta of 0.27. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company's fifty day moving average is $173.53 and its 200-day moving average is $167.42.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to analyst estimates of $2.50 billion. Hershey had a net margin of 13.54% and a return on equity of 37.36%. The company's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same period in the prior year, the business earned $1.27 EPS. On average, research analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 15th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a yield of 3.0%. Hershey's payout ratio is 72.78%.

Insider Activity

In other Hershey news, insider Rohit Grover sold 1,334 shares of the business's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $180.00, for a total transaction of $240,120.00. Following the sale, the insider directly owned 38,068 shares of the company's stock, valued at $6,852,240. The trade was a 3.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven E. Voskuil sold 5,000 shares of the business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $180.00, for a total transaction of $900,000.00. Following the sale, the chief financial officer directly owned 61,319 shares in the company, valued at $11,037,420. This trade represents a 7.54% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,311 shares of company stock worth $20,931,348. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

HSY has been the subject of a number of analyst reports. Wall Street Zen raised shares of Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Morgan Stanley lifted their target price on shares of Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Bank of America lifted their target price on shares of Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Sanford C. Bernstein boosted their price target on shares of Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a report on Thursday, July 31st. Finally, Royal Bank Of Canada decreased their price target on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Five investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $169.68.

Hershey 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.