Gateway Investment Advisers LLC Invests $286,000 in The Hershey Company (NYSE:HSY)

Gateway Investment Advisers LLC purchased a new position in The Hershey Company (NYSE:HSY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,675 shares of the company's stock, valued at approximately $286,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Montag & Caldwell LLC purchased a new stake in Hershey in the fourth quarter worth $25,000. Putney Financial Group LLC purchased a new stake in Hershey in the fourth quarter worth $25,000. Crowley Wealth Management Inc. purchased a new stake in Hershey in the fourth quarter worth $28,000. Mpwm Advisory Solutions LLC purchased a new stake in Hershey in the fourth quarter worth $28,000. Finally, Vision Financial Markets LLC purchased a new stake in Hershey in the fourth quarter worth $29,000. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Stock Performance

Shares of Hershey stock traded down $3.06 during trading on Friday, hitting $169.06. 1,834,351 shares of the company's stock traded hands, compared to its average volume of 1,793,368. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The stock has a market capitalization of $34.25 billion, a P/E ratio of 15.51, a PEG ratio of 5.90 and a beta of 0.29. The business has a 50-day simple moving average of $163.57 and a 200-day simple moving average of $165.76.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data 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 return on equity of 44.77% and a net margin of 19.83%. 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 posted $3.07 earnings per share. Hershey's revenue was down 13.8% compared to the same quarter last year. As a group, analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 3.24%. Hershey's payout ratio is 67.57%.

Insiders Place Their Bets

In other news, CEO Michele Buck sold 31,210 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer now directly owns 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.28% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on HSY shares. Morgan Stanley cut their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Sanford C. Bernstein increased their target price on Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a research note on Friday, May 2nd. Royal Bank of Canada cut their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Citigroup cut their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Barclays increased their target price on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average price target of $158.84.

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.