Hershey Company (The) (NYSE:HSY) Shares Acquired by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its holdings in Hershey by 3.3%, now owning 57,543 shares valued at approximately $9.83 million as of the latest SEC filing.
• A variety of institutional investors have significantly boosted their positions in Hershey, with Capital International Investors and GAMMA Investing LLC raising their stakes by 31.4% and 18,311.7%, respectively.
• Hershey recently declared a quarterly dividend of $1.37 per share, which represents a 3.0% yield, with an ex-dividend date set for August 15th.

Resona Asset Management Co. Ltd. grew its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 57,543 shares of the company's stock after purchasing an additional 1,854 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Hershey were worth $9,833,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in HSY. Trust Co. of Vermont grew its position in Hershey by 2.4% during the first quarter. Trust Co. of Vermont now owns 2,691 shares of the company's stock valued at $460,000 after acquiring an additional 62 shares during the last quarter. Ignite Planners LLC boosted its holdings in shares of Hershey by 5.2% during the 1st quarter. Ignite Planners LLC now owns 1,278 shares of the company's stock valued at $214,000 after buying an additional 63 shares in the last quarter. Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Hershey by 0.9% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 7,248 shares of the company's stock valued at $1,229,000 after buying an additional 66 shares in the last quarter. Allworth Financial LP boosted its stake in Hershey by 0.9% in the 1st quarter. Allworth Financial LP now owns 7,189 shares of the company's stock worth $1,179,000 after purchasing an additional 67 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC boosted its stake in Hershey by 2.6% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 2,768 shares of the company's stock worth $473,000 after purchasing an additional 69 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Stock Down 1.3%

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 firm has a market cap of $36.08 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 4.29 and a beta of 0.27. The company has a current ratio of 1.53, a quick ratio of 0.89 and a debt-to-equity ratio of 1.15. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock's fifty day simple moving average is $175.12 and its 200 day simple moving average is $168.38.

Hershey (NYSE:HSY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm earned $1.27 earnings per share. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. On average, equities analysts predict that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be issued a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.1%. Hershey's payout ratio is 72.78%.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 5,000 shares of the company's 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 $900,000.00. Following the sale, the chief financial officer owned 61,319 shares in the company, valued at approximately $11,037,420. This represents a 7.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James Turoff sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total transaction of $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares in the company, valued at $4,431,175. The trade was a 4.88% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,311 shares of company stock valued at $20,931,348. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Sanford C. Bernstein upped their price target on shares of Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research report on Thursday, July 31st. Wells Fargo & Company upped their price target on Hershey from $135.00 to $154.00 and gave the stock an "underweight" rating in a research note on Thursday, July 31st. Barclays upped their price target on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Mizuho upped their price target on Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a research note on Monday, July 28th. Finally, Bank of America upped their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Four research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $168.83.

Hershey 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.