GAMMA Investing LLC Has $1.73 Billion Stock Position in The Hershey Company (NYSE:HSY)

GAMMA Investing LLC increased its stake in The Hershey Company (NYSE:HSY - Free Report) by 18,311.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,010,616 shares of the company's stock after purchasing an additional 1,005,127 shares during the period. GAMMA Investing LLC owned approximately 0.50% of Hershey worth $1,728,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HSY. Capital International Investors increased its stake in Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after buying an additional 2,980,997 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Hershey by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after buying an additional 47,394 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hershey by 38.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Hershey by 10.8% during the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after buying an additional 154,238 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the company'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 owns 2,994 shares of the company's stock, valued at approximately $470,387.34. This represents a 24.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of recent research reports. 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. Royal Bank of Canada reduced their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Bernstein Bank reduced their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating for the company in a research note on Wednesday, February 5th. Morgan Stanley reduced their price objective on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a research note on Thursday, April 17th. Finally, Stifel Nicolaus cut their target price on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, February 7th. Five equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $158.84.

Hershey Stock Performance

HSY stock traded up $0.66 during mid-day trading on Monday, hitting $161.35. 660,089 shares of the company were exchanged, compared to its average volume of 1,779,820. The business has a 50 day simple moving average of $163.95 and a 200-day simple moving average of $166.15. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $32.69 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32. The 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 EPS for the quarter, topping 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 analysts' expectations of $2.81 billion. During the same period last year, the firm earned $3.07 earnings per share. The business's revenue for the quarter was down 13.8% on a year-over-year basis. On average, equities analysts forecast that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 16th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 annualized dividend and a dividend yield of 3.40%. Hershey's dividend payout ratio is presently 67.57%.

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.