Hershey Company (The) $HSY Shares Sold by Swiss Life Asset Management Ltd

Key Points

• Swiss Life Asset Management reduced its Hershey stake by 18.6% in the fourth quarter, selling 6,610 shares and leaving it with 29,007 shares worth about $5.28 million.
• Hershey’s latest quarterly results beat expectations, with EPS of $2.35 versus $2.04 expected and revenue of $3.10 billion, up 10.7% year over year.
• Analyst sentiment remains cautious: the stock has an average “Hold” rating and a consensus price target of $218.33, while Hershey also declared a quarterly dividend of $1.452 per share payable June 15.

Swiss Life Asset Management Ltd trimmed its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 18.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,007 shares of the company's stock after selling 6,610 shares during the quarter. Swiss Life Asset Management Ltd's holdings in Hershey were worth $5,279,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Hershey by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company's stock worth $3,469,855,000 after acquiring an additional 191,671 shares during the last quarter. State Street Corp raised its holdings in shares of Hershey by 1.8% in the third quarter. State Street Corp now owns 7,253,041 shares of the company's stock worth $1,356,681,000 after acquiring an additional 128,982 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Hershey by 1.9% in the third quarter. Northern Trust Corp now owns 1,614,258 shares of the company's stock worth $301,947,000 after acquiring an additional 29,731 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Hershey by 6.7% in the third quarter. Capital Research Global Investors now owns 1,605,628 shares of the company's stock worth $300,333,000 after acquiring an additional 101,305 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Hershey by 3.7% in the third quarter. Bank of America Corp DE now owns 1,473,427 shares of the company's stock worth $275,605,000 after acquiring an additional 52,936 shares during the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on HSY shares. BTIG Research began coverage on Hershey in a research note on Monday, April 13th. They issued a "neutral" rating for the company. The Goldman Sachs Group set a $240.00 target price on Hershey in a research note on Friday, May 1st. Mizuho upped their target price on Hershey from $165.00 to $195.00 and gave the company a "neutral" rating in a research note on Tuesday, February 24th. DA Davidson dropped their target price on Hershey from $230.00 to $208.00 and set a "neutral" rating for the company in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Hershey from $212.00 to $200.00 and set a "hold" rating for the company in a research note on Monday, March 30th. Seven 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, the company presently has an average rating of "Hold" and an average price target of $218.33.

Hershey Stock Performance

Hershey stock opened at $195.86 on Thursday. The firm has a market capitalization of $39.73 billion, a P/E ratio of 36.47, a PEG ratio of 1.15 and a beta of 0.07. The stock has a fifty day moving average price of $204.42 and a 200 day moving average price of $196.91. Hershey Company has a 52 week low of $150.04 and a 52 week high of $239.48. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.04 by $0.31. The company 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 firm's revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.09 earnings per share. Equities research analysts anticipate that Hershey Company will post 8.45 earnings per share for the current year.

Hershey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be paid a dividend of $1.452 per share. The ex-dividend date is Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.0%. Hershey's dividend payout ratio is currently 108.19%.

Insiders Place Their Bets

In other Hershey news, SVP Jason Reiman sold 2,000 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total transaction of $452,140.00. Following the completion of the sale, the senior vice president directly owned 41,036 shares in the company, valued at $9,277,008.52. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Rohit Grover sold 3,500 shares of the company's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $226.07, for a total value of $791,245.00. Following the sale, the insider owned 34,568 shares of the company's stock, valued at $7,814,787.76. This represents a 9.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 10,000 shares of company stock worth $2,189,090 over the last three months. 0.08% of the stock is owned by insiders.

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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