Sumitomo Mitsui Trust Group Inc. Increases Stock Position in Hershey Company (The) (NYSE:HSY)

Sumitomo Mitsui Trust Group Inc. raised its position in Hershey Company (The) (NYSE:HSY - Free Report) by 1.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 365,503 shares of the company's stock after purchasing an additional 5,108 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.18% of Hershey worth $62,512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Montag & Caldwell LLC purchased a new stake in Hershey during the 4th quarter valued at about $25,000. Putney Financial Group LLC purchased a new stake in shares of Hershey in the fourth quarter valued at approximately $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey in the 4th quarter worth $28,000. Mpwm Advisory Solutions LLC acquired a new stake in Hershey during the fourth quarter worth about $28,000. Finally, Vision Financial Markets LLC purchased a new position in Hershey during the fourth quarter worth about $29,000. Institutional investors and hedge funds own 57.96% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HSY shares. Barclays increased their price objective on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Wells Fargo & Company lifted their price target on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. DA Davidson raised their price target on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday. Finally, Citigroup lowered their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Five analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to data from MarketBeat.com, Hershey has an average rating of "Hold" and a consensus target price of $158.84.

Hershey Stock Performance

Shares of NYSE:HSY traded up $0.71 on Wednesday, reaching $176.52. The company's stock had a trading volume of 156,795 shares, compared to its average volume of 1,790,826. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock has a market capitalization of $35.76 billion, a P/E ratio of 21.73, a PEG ratio of 6.06 and a beta of 0.30. The stock's 50-day moving average is $164.83 and its two-hundred day moving average is $164.84. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating 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 firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the prior year, the business earned $3.07 EPS. The firm's revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were given a dividend of $1.37 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.10%. Hershey's payout ratio is currently 67.57%.

Insider Buying and Selling at Hershey

In related news, CEO Michele Buck sold 31,210 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the transaction, the chief executive officer owned 193,624 shares of the company's stock, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Jennifer Mccalman sold 974 shares of the company'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 value of $153,025.14. Following the completion of the sale, the chief accounting officer owned 2,994 shares in the company, valued at approximately $470,387.34. This represents a 24.55% decrease in their position. The disclosure for this sale can be found here. 0.28% of the stock is currently owned by company insiders.

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.