Novem Group Buys 1,414 Shares of Hershey Company (The) (NYSE:HSY)

Novem Group grew its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,303 shares of the company's stock after buying an additional 1,414 shares during the quarter. Novem Group's holdings in Hershey were worth $1,249,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. LaFleur & Godfrey LLC boosted its stake in shares of Hershey by 8.3% in the fourth quarter. LaFleur & Godfrey LLC now owns 46,708 shares of the company's stock valued at $7,910,000 after purchasing an additional 3,578 shares during the period. SVB Wealth LLC acquired a new position in shares of Hershey in the fourth quarter worth about $251,000. Fisher Asset Management LLC purchased a new position in Hershey in the fourth quarter valued at about $236,000. SRS Capital Advisors Inc. acquired a new position in shares of Hershey in the 4th quarter valued at approximately $73,000. Finally, Jones Financial Companies Lllp boosted its stake in shares of Hershey by 20.6% during the 4th quarter. Jones Financial Companies Lllp now owns 12,403 shares of the company's stock valued at $2,100,000 after buying an additional 2,118 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Down 2.3%

HSY stock traded down $4.08 during midday trading on Friday, reaching $173.00. The company had a trading volume of 733,761 shares, compared to its average volume of 1,793,894. The company has a 50 day moving average of $165.22 and a two-hundred day moving average of $164.89. The company has a market capitalization of $35.05 billion, a P/E ratio of 21.33, a PEG ratio of 6.54 and a beta of 0.30. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a return on equity of 38.70% and a net margin of 15.32%. The business had revenue of $2.81 billion during the quarter, compared to analyst estimates of $2.81 billion. During the same period last year, the company earned $3.07 earnings per share. Hershey's quarterly revenue was down 13.8% compared to the same quarter last year. On average, equities research analysts expect that Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.17%. The ex-dividend date was Friday, May 16th. Hershey's payout ratio is presently 67.57%.

Analyst Ratings Changes

Several research firms recently issued reports on HSY. DA Davidson upped their price target on shares of Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a report on Monday, May 5th. 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 research note on Friday, March 14th. Morgan Stanley reduced their price target on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Royal Bank Of Canada lowered their price objective on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a report on Friday, May 2nd. Finally, Sanford C. Bernstein upped their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Five research analysts have rated the stock with a sell rating and sixteen 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 $158.84.

Insider Buying and Selling at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Rohit Grover sold 1,333 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $233,275.00. Following the completion of the sale, the insider directly owned 39,402 shares of the company's stock, valued at $6,895,350. This represents a 3.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,107 shares of company stock valued at $9,008,118 over the last three months. 0.34% of the stock is owned by insiders.

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.