CX Institutional Makes New $472,000 Investment in The Hershey Company (NYSE:HSY)

CX Institutional bought a new position in The Hershey Company (NYSE:HSY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,758 shares of the company's stock, valued at approximately $472,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. UNIVEST FINANCIAL Corp raised its position in shares of Hershey by 1.5% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock valued at $762,000 after acquiring an additional 68 shares during the last quarter. Fifth Third Wealth Advisors LLC increased its position in shares of Hershey by 2.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock valued at $473,000 after buying an additional 69 shares in the last quarter. OLD Point Trust & Financial Services N A increased its holdings in Hershey by 2.2% during the 4th quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock worth $549,000 after purchasing an additional 70 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Hershey by 1.3% during the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company's stock worth $939,000 after purchasing an additional 70 shares in the last quarter. Finally, Covestor Ltd boosted its stake in shares of Hershey by 42.5% during the 4th quarter. Covestor Ltd now owns 238 shares of the company's stock worth $40,000 after buying an additional 71 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Hershey Price Performance

NYSE HSY traded down $3.06 on Friday, hitting $169.06. The stock had a trading volume of 1,834,351 shares, compared to its average volume of 1,795,971. The firm has a 50-day moving average of $163.77 and a 200-day moving average of $165.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The company has a market capitalization of $34.25 billion, a price-to-earnings ratio of 15.51, a price-to-earnings-growth ratio of 5.90 and a beta of 0.29. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $2.09 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 company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter last year, the firm earned $3.07 EPS. The firm's quarterly revenue was down 13.8% compared to the same quarter last year. Equities analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be given a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.24%. Hershey's dividend payout ratio is 67.57%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer now directly owns 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction that occurred on 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 sale, the chief executive officer now owns 193,624 shares of the company's stock, valued at $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.28% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. DA Davidson increased their price objective on shares of Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research note on Monday, May 5th. Sanford C. Bernstein lifted their price target on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Citigroup decreased their price objective on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Wells Fargo & Company boosted their target price on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Finally, Morgan Stanley dropped their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Five equities research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $158.84.

Hershey Company 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.