Harvest Investment Advisors LLC Purchases New Position in Hershey Company (The) $HSY

Key Points

• Harvest Investment Advisors LLC initiated a new position in Hershey, buying 11,107 shares worth about $2.0 million in the fourth quarter. The stake makes up 1.1% of the firm’s portfolio and is its 29th-largest holding.
• Hershey continues to draw significant institutional interest, with firms like Norges Bank and Marshall Wace LLP also increasing or establishing positions. Overall, 57.96% of HSY shares are held by hedge funds and other institutional investors.
• The company recently reported better-than-expected earnings, posting $2.35 EPS on $3.10 billion in revenue, while also paying a quarterly dividend of $1.452 per share. Analysts remain cautious overall, with a consensus rating of Hold and an average price target of $218.06.

Harvest Investment Advisors LLC purchased a new stake in Hershey Company (The) (NYSE:HSY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 11,107 shares of the company's stock, valued at approximately $2,021,000. Hershey makes up 1.1% of Harvest Investment Advisors LLC's investment portfolio, making the stock its 29th largest holding.

Several other large investors also recently bought and sold shares of HSY. Norges Bank purchased a new stake in Hershey during the 4th quarter worth approximately $272,506,000. Marshall Wace LLP increased its stake in Hershey by 546.6% during the 4th quarter. Marshall Wace LLP now owns 1,057,476 shares of the company's stock worth $192,439,000 after buying an additional 893,940 shares in the last quarter. First Trust Advisors LP increased its stake in Hershey by 240.0% during the 3rd quarter. First Trust Advisors LP now owns 1,262,671 shares of the company's stock worth $236,183,000 after buying an additional 891,287 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Hershey by 41.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,331,730 shares of the company's stock worth $242,348,000 after buying an additional 390,058 shares in the last quarter. Finally, Candlestick Capital Management LP purchased a new stake in Hershey during the 3rd quarter worth approximately $64,469,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the sale, the chief financial officer directly owned 57,695 shares in the company, valued at $11,198,599.50. This represents a 2.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HSY has been the subject of several research reports. UBS Group cut their price objective on Hershey from $215.00 to $200.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft cut their price objective on Hershey from $212.00 to $200.00 and set a "hold" rating for the company in a research note on Monday, March 30th. DA Davidson cut their price objective on Hershey from $230.00 to $208.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Morgan Stanley cut their price objective on Hershey from $247.00 to $227.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Finally, Barclays cut their price objective on Hershey from $225.00 to $220.00 and set an "equal weight" rating for the company in a research note on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $218.06.

Hershey Price Performance

HSY stock opened at $182.60 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. The business has a 50 day simple moving average of $190.39 and a 200-day simple moving average of $198.60. The firm has a market capitalization of $37.04 billion, a PE ratio of 34.00, a price-to-earnings-growth ratio of 1.09 and a beta of 0.09. Hershey Company has a 1 year low of $160.07 and a 1 year high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.03 billion. Hershey had a return on equity of 28.98% and a net margin of 9.12%.The business's revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.09 earnings per share. Equities research analysts anticipate that Hershey Company will post 8.45 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were given a $1.452 dividend. The ex-dividend date was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.2%. Hershey's dividend payout ratio is 108.19%.

Hershey Company Profile

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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