Eurizon Capital SGR S.p.A. Invests $12.33 Million in Hershey Company (The) $HSY

Key Points

• Eurizon Capital SGR S.p.A. opened a new position in Hershey during the fourth quarter, buying 67,765 shares valued at about $12.33 million.
• Several other institutional investors also added to or initiated stakes, and hedge funds and other institutions now own 57.96% of Hershey shares.
• Hershey reported stronger-than-expected quarterly results, with EPS of $2.35 topping estimates and revenue rising 10.7% year over year, while also declaring a $1.452 quarterly dividend.

Eurizon Capital SGR S.p.A. acquired a new position in shares of Hershey Company (The) (NYSE:HSY - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 67,765 shares of the company's stock, valued at approximately $12,332,000.

Several other large investors have also modified their holdings of the stock. Fideuram Asset Management Ireland dac purchased a new position in shares of Hershey during the 4th quarter worth about $2,860,000. National Pension Service increased its position in Hershey by 1.0% during the 4th quarter. National Pension Service now owns 235,954 shares of the company's stock worth $42,939,000 after purchasing an additional 2,376 shares in the last quarter. Moors & Cabot Inc. increased its position in Hershey by 4.5% during the 4th quarter. Moors & Cabot Inc. now owns 14,092 shares of the company's stock worth $2,564,000 after purchasing an additional 609 shares in the last quarter. Foundations Investment Advisors LLC increased its position in Hershey by 25.2% during the 4th quarter. Foundations Investment Advisors LLC now owns 2,477 shares of the company's stock worth $451,000 after purchasing an additional 499 shares in the last quarter. Finally, Huntington National Bank increased its position in Hershey by 11.7% during the 4th quarter. Huntington National Bank now owns 6,366 shares of the company's stock worth $1,158,000 after purchasing an additional 669 shares in the last quarter. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hershey

In other news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were 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 of the company's stock, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

Hershey Stock Up 0.1%

Shares of NYSE:HSY opened at $194.19 on Monday. 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 52-week low of $154.37 and a 52-week high of $239.48. The company has a 50 day moving average of $197.45 and a two-hundred day moving average of $198.66. The company has a market capitalization of $39.39 billion, a price-to-earnings ratio of 36.16, a price-to-earnings-growth ratio of 1.16 and a beta of 0.09.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.04 by $0.31. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the company earned $2.09 earnings per share. Hershey's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts forecast that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 15th will be given a dividend of $1.452 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.0%. Hershey's dividend payout ratio (DPR) is presently 108.19%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HSY shares. Wells Fargo & Company dropped their target price on shares of Hershey from $220.00 to $200.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. BTIG Research started coverage on shares of Hershey in a research report on Monday, April 13th. They set a "neutral" rating for the company. Royal Bank Of Canada reissued a "sector perform" rating and set a $185.00 target price on shares of Hershey in a research report on Tuesday, February 3rd. Stephens increased their target price on shares of Hershey from $200.00 to $260.00 and gave the stock an "overweight" rating in a research report on Thursday, February 12th. Finally, DA Davidson dropped their target price on shares of Hershey from $230.00 to $208.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Hershey currently has a consensus rating of "Hold" and an average price target of $218.06.

About Hershey

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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