Eagle Global Advisors LLC Makes New $258,000 Investment in Hershey Company (The) (NYSE:HSY)

Key Points

• Hershey Company (NYSE: HSY) received a $258,000 investment from Eagle Global Advisors LLC, acquiring 1,510 shares during the first quarter.
• The company recently reported a 26% year-over-year revenue growth with earnings per share of $1.21, exceeding analysts' expectations.
• Hershey announced a quarterly dividend of $1.37 per share, resulting in an annualized dividend yield of 3.1% with a payout ratio of 72.78%.

Eagle Global Advisors LLC acquired a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 1,510 shares of the company's stock, valued at approximately $258,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HSY. Capital International Investors grew its holdings in shares of Hershey by 31.4% during the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after purchasing an additional 2,980,997 shares during the period. GAMMA Investing LLC raised its position in shares of Hershey by 18,311.7% in the 1st quarter. GAMMA Investing LLC now owns 1,010,616 shares of the company's stock valued at $1,728,460,000 after purchasing an additional 1,005,127 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of Hershey by 6,721.3% in the 1st quarter. Pacer Advisors Inc. now owns 819,446 shares of the company's stock valued at $140,150,000 after purchasing an additional 807,433 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hershey by 38.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock valued at $275,710,000 after buying an additional 453,428 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hershey by 7.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock valued at $853,720,000 after acquiring an additional 356,249 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Insider Activity at Hershey

In other news, SVP James Turoff sold 1,300 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares in the company, valued at approximately $4,431,175. The trade was a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 value of $5,018,568.00. Following the sale, the chief executive officer owned 193,624 shares in the company, valued at approximately $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is owned by corporate insiders.

Hershey Stock Down 0.5%

NYSE HSY traded down $0.92 during trading on Friday, reaching $177.97. 1,258,565 shares of the company's stock were exchanged, compared to its average volume of 1,856,671. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The firm has a market capitalization of $36.08 billion, a PE ratio of 23.63, a P/E/G ratio of 4.34 and a beta of 0.27. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. The company's fifty day simple moving average is $174.80 and its 200-day simple moving average is $168.05.

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

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be issued a dividend of $1.37 per share. The ex-dividend date is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.1%. Hershey's payout ratio is 72.78%.

Wall Street Analysts Forecast Growth

HSY has been the topic of several research reports. Stifel Nicolaus upped their price target on Hershey from $160.00 to $180.00 and gave the company a "hold" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein upped their price target on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Bank of America increased their target price on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research report on Thursday, July 31st. Royal Bank Of Canada dropped their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. Finally, UBS Group dropped their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, Hershey presently has an average rating of "Hold" and a consensus price target of $168.83.

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.