Citigroup Inc. Purchases 100,054 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Citigroup Inc. increased its stake in Hershey Company by 105.0% during the first quarter, acquiring 100,054 additional shares, resulting in ownership of 195,327 shares valued at about $33.4 million.
• Hershey's CEO, Michele Buck, sold 19,290 shares at an average price of $194.00 in late July, decreasing her position by 9.06%.
• The company declared a quarterly dividend of $1.37 per share, with a payout ratio of 72.78%, to be paid on September 15th to shareholders of record.

Citigroup Inc. grew its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 105.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 195,327 shares of the company's stock after buying an additional 100,054 shares during the period. Citigroup Inc. owned 0.10% of Hershey worth $33,407,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in HSY. Covestor Ltd lifted its position in shares of Hershey by 42.5% during the 4th quarter. Covestor Ltd now owns 238 shares of the company's stock valued at $40,000 after buying an additional 71 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of Hershey by 16.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 18,297 shares of the company's stock valued at $3,100,000 after buying an additional 2,591 shares during the last quarter. Townsquare Capital LLC lifted its position in shares of Hershey by 5.0% during the 4th quarter. Townsquare Capital LLC now owns 39,113 shares of the company's stock valued at $6,624,000 after buying an additional 1,863 shares during the last quarter. Bragg Financial Advisors Inc lifted its position in shares of Hershey by 16.0% during the 4th quarter. Bragg Financial Advisors Inc now owns 15,926 shares of the company's stock valued at $2,697,000 after buying an additional 2,198 shares during the last quarter. Finally, Mariner LLC lifted its position in shares of Hershey by 0.3% during the 4th quarter. Mariner LLC now owns 73,058 shares of the company's stock valued at $12,372,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Sanford C. Bernstein upped their price target on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. DA Davidson increased their price objective on Hershey from $171.00 to $188.00 and gave the stock a "neutral" rating in a report on Monday, August 4th. UBS Group dropped their price objective on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Royal Bank Of Canada dropped their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Finally, Stifel Nicolaus increased their price objective on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday, July 29th. Four equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $168.83.

Insider Buying and Selling at Hershey

In related news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total transaction of $153,025.14. Following the transaction, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Rohit Grover sold 1,334 shares of Hershey stock in a transaction that occurred on Monday, July 21st. The stock was sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,311 shares of company stock worth $20,931,348 over the last quarter. Company insiders own 0.34% of the company's stock.

Hershey Price Performance

Shares of Hershey stock traded down $2.29 during trading on Friday, hitting $177.97. 1,289,969 shares of the stock traded hands, compared to its average volume of 1,904,041. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 23.63, a PEG ratio of 4.35 and a beta of 0.27. The firm's fifty day moving average is $175.12 and its 200-day moving average is $168.24. Hershey Company has a 52 week low of $140.13 and a 52 week high of $208.03.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The business had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period last year, the company earned $1.27 EPS. Hershey's revenue for the quarter was up 26.0% compared to the same quarter last year. Research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.1%. The ex-dividend date is Friday, August 15th. Hershey's dividend payout ratio (DPR) is presently 72.78%.

Hershey Company 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.