Perigon Wealth Management LLC increased its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 346.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,293 shares of the company's stock after acquiring an additional 5,661 shares during the period. Perigon Wealth Management LLC's holdings in Hershey were worth $1,247,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of HSY. Ethos Financial Group LLC raised its position in Hershey by 59.8% in the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock valued at $671,000 after purchasing an additional 1,483 shares in the last quarter. DJE Kapital AG purchased a new position in Hershey during the 4th quarter worth approximately $1,040,000. Envestnet Portfolio Solutions Inc. grew its stake in Hershey by 8.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after buying an additional 1,390 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after purchasing an additional 247,675 shares during the last quarter. Finally, Global View Capital Management LLC purchased a new position in shares of Hershey in the 4th quarter valued at approximately $253,000. Institutional investors and hedge funds own 57.96% of the company's stock.
Insider Buying and Selling
In other Hershey news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer now directly owns 2,994 shares in the company, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michele Buck sold 31,210 shares of the firm's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the sale, the chief executive officer now owns 193,624 shares in the company, valued at $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by company insiders.
Hershey Stock Up 0.1%
Shares of NYSE:HSY opened at $167.09 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The company has a 50 day moving average of $164.67 and a two-hundred day moving average of $165.01. The company has a market capitalization of $33.85 billion, a price-to-earnings ratio of 20.60, a price-to-earnings-growth ratio of 6.10 and a beta of 0.29.
Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same quarter last year, the company earned $3.07 earnings per share. The business's quarterly revenue was down 13.8% compared to the same quarter last year. As a group, analysts forecast that Hershey Company will post 6.12 earnings per share for the current fiscal year.
Hershey Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's dividend payout ratio (DPR) is presently 67.57%.
Wall Street Analysts Forecast Growth
Several research analysts have weighed in on the company. UBS Group lowered their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. Citigroup reduced their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Morgan Stanley reduced their target price on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Wells Fargo & Company upped their target price on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Finally, Sanford C. Bernstein increased their price objective on shares of Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $158.84.
Read Our Latest Analysis on Hershey
Hershey Company Profile
(
Free Report)
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.
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Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Company (The) (NYSE:HSY - Free Report).
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