Hershey Company (The) $HSY Stock: Bank Julius Baer & Co. Ltd Zurich Trims Position

Key Points

• Bank Julius Baer & Co. cut its Hershey stake by 37.4% in the third quarter, selling 19,871 shares and retaining 33,268 shares valued at about $5.25 million.
• Analysts have a consensus Hold rating and an average price target of $193.81; shares opened at $167.21, down 2.4% according to the article.
• Hershey beat quarterly earnings expectations, reporting EPS of $2.64 versus $2.11 expected, while revenue rose 3% year over year to $3.28 billion. It also declared a quarterly dividend of $1.452 per share.

Bank Julius Baer & Co. Ltd Zurich lowered its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 37.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,268 shares of the company's stock after selling 19,871 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Hershey were worth $5,246,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Fifth Third Bancorp boosted its stake in shares of Hershey by 126.4% during the first quarter. Fifth Third Bancorp now owns 84,215 shares of the company's stock worth $17,508,000 after buying an additional 47,017 shares during the period. The Manufacturers Life Insurance Company raised its stake in Hershey by 125.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 196,337 shares of the company's stock valued at $34,447,000 after acquiring an additional 109,418 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in Hershey during the 2nd quarter valued at approximately $62,664,000. Bank of America Corp DE acquired a new stake in Hershey during the 2nd quarter worth approximately $274,871,000. Finally, Envestnet Asset Management Inc. lifted its position in Hershey by 11.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,128,711 shares of the company's stock worth $198,032,000 after acquiring an additional 118,825 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HSY. TD Cowen downgraded Hershey from a "buy" rating to a "hold" rating and lowered their target price for the company from $198.00 to $173.00 in a research note on Friday, October 30th. Rothschild & Co Redburn increased their price target on Hershey from $166.00 to $170.00 and gave the stock a "sell" rating in a report on Wednesday, August 5th. Evercore increased their price target on Hershey from $210.00 to $225.00 and gave the stock an "outperform" rating in a report on Wednesday, October 28th. Bank of America reiterated a "neutral" rating and issued a $170.00 price objective on shares of Hershey in a research report on Friday. Finally, Deutsche Bank Aktiengesellschaft set a $173.00 price objective on shares of Hershey in a research note on Friday. Seven equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Hershey has an average rating of "Hold" and an average price target of $193.81.

Hershey Stock Down 2.4%

Hershey stock opened at $167.21 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.24 and a quick ratio of 0.72. Hershey Company has a 1-year low of $156.16 and a 1-year high of $239.48. The company has a market cap of $33.60 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 1.54 and a beta of 0.08. The stock's 50 day moving average price is $168.93 and its 200 day moving average price is $188.75.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $2.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.11 by $0.53. Hershey had a return on equity of 37.12% and a net margin of 14.63%. The firm had revenue of $3.28 billion during the quarter, compared to analysts' expectations of $3.25 billion. During the same quarter in the prior year, the business posted $1.30 earnings per share. Hershey's revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts predict that Hershey Company will post 8.62 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 16th will be issued a $1.4520 dividend. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date is Monday, November 16th. Hershey's dividend payout ratio (DPR) is currently 65.72%.

About Hershey

The Hershey Company NYSE: HSY is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.

Hershey's portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey's, Reese's, Hershey's Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot's Pretzels.

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