Hershey Company (The) $HSY Stock Position Raised by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management boosted its Hershey stake by 88% in the fourth quarter, ending with 106,649 shares valued at about $19.4 million. Institutional investors overall own 57.96% of Hershey’s stock.
• Hershey’s Q1 earnings topped expectations, posting $2.35 EPS versus the $2.04 estimate and revenue of $3.10 billion versus $3.03 billion expected. Revenue rose 10.7% year over year.
• The company announced a quarterly dividend of $1.452 per share, payable June 15, implying an annualized yield of 3.1%. Meanwhile, analyst sentiment is mixed, with a consensus rating of “Hold” and an average price target of $218.06.

BI Asset Management Fondsmaeglerselskab A S lifted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 88.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 106,649 shares of the company's stock after buying an additional 49,927 shares during the period. BI Asset Management Fondsmaeglerselskab A S owned 0.05% of Hershey worth $19,408,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC bought a new position in Hershey in the 3rd quarter worth about $26,000. Laurel Wealth Advisors LLC bought a new position in Hershey in the 4th quarter worth about $27,000. Measured Wealth Private Client Group LLC bought a new position in Hershey in the 3rd quarter worth about $35,000. Atlantic Edge Private Wealth Management LLC bought a new position in Hershey in the 4th quarter worth about $42,000. Finally, Close Asset Management Ltd grew its position in Hershey by 339.3% in the 3rd quarter. Close Asset Management Ltd now owns 246 shares of the company's stock worth $46,000 after purchasing an additional 190 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Insider Transactions at Hershey

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Monday, April 20th. The shares were 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 owned 57,695 shares in the company, valued at $11,198,599.50. This represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.08% of the stock is currently owned by insiders.

Hershey Stock Up 0.9%

Shares of NYSE:HSY opened at $184.42 on Friday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The company has a market cap of $37.41 billion, a PE ratio of 34.34, a price-to-earnings-growth ratio of 1.11 and a beta of 0.09. Hershey Company has a 52 week low of $160.07 and a 52 week high of $239.48. The firm has a 50 day simple moving average of $194.51 and a 200 day simple moving average of $198.75.

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

Hershey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 15th will be given a $1.452 dividend. The ex-dividend date is Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a yield of 3.1%. Hershey's dividend payout ratio is presently 108.19%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of Hershey from $230.00 to $215.00 and set a "hold" rating for the company in a research report on Tuesday, April 21st. Weiss Ratings restated a "hold (c)" rating on shares of Hershey in a research report on Tuesday, April 21st. JPMorgan Chase & Co. decreased their target price on shares of Hershey from $211.00 to $204.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. Piper Sandler restated an "overweight" rating and issued a $249.00 target price on shares of Hershey in a research report on Wednesday, February 25th. Finally, TD Cowen upgraded shares of Hershey from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $218.06.

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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