Prudential PLC Buys 34,673 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Prudential PLC significantly increased its position in Hershey shares by 399.3% during the first quarter, owning 43,356 shares valued at approximately $7.4 million.
• Hershey reported $1.21 earnings per share for the last quarter, exceeding expectations and marking a 26.0% increase in revenue compared to the same quarter last year.
• The company will pay a quarterly dividend of $1.37 on September 15th, reflecting an annualized dividend yield of 3.1%.

Prudential PLC increased its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 399.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,356 shares of the company's stock after purchasing an additional 34,673 shares during the quarter. Prudential PLC's holdings in Hershey were worth $7,415,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital International Investors grew its position in Hershey by 31.4% in the 4th quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after acquiring an additional 2,980,997 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Hershey by 7.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,991,639 shares of the company's stock valued at $853,720,000 after acquiring an additional 356,249 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hershey by 38.6% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock valued at $275,710,000 after buying an additional 453,428 shares during the period. Northern Trust Corp boosted its stake in shares of Hershey by 10.8% in the 4th quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock valued at $267,396,000 after buying an additional 154,238 shares during the period. Finally, Stifel Financial Corp boosted its stake in shares of Hershey by 13.7% in the 4th quarter. Stifel Financial Corp now owns 1,096,767 shares of the company's stock valued at $185,743,000 after buying an additional 132,019 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HSY. Royal Bank Of Canada decreased their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research note on Friday, May 2nd. Sanford C. Bernstein raised their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Morgan Stanley upped their price objective on Hershey from $173.00 to $189.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 31st. UBS Group lowered their price objective on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research note on Friday, May 2nd. Finally, Stifel Nicolaus upped their target price on shares of Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a research report on Tuesday, July 29th. Four investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $168.83.

Hershey Trading Down 1.3%

Shares of HSY stock traded down $2.29 during trading hours on Friday, reaching $177.97. The company had a trading volume of 1,289,969 shares, compared to its average volume of 1,859,038. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.53 and a quick ratio of 0.89. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The company has a 50 day moving average of $175.12 and a 200 day moving average of $168.24. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 23.63, a P/E/G ratio of 4.34 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion during the quarter, compared to analysts' expectations of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The company's revenue was up 26.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.27 EPS. On average, equities research analysts anticipate that Hershey Company will post 6.12 EPS for the current year.

Hershey Dividend Announcement

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

Insider Activity at Hershey

In related news, SVP James Turoff sold 1,300 shares of the stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president owned 25,321 shares in the company, valued at approximately $4,431,175. This represents a 4.88% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief accounting officer owned 2,994 shares of the company's stock, valued at $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 118,311 shares of company stock worth $20,931,348. Corporate insiders own 0.34% of the company's stock.

About Hershey

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.