CORDA Investment Management LLC. raised its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 95,392 shares of the company's stock after buying an additional 8,723 shares during the period. CORDA Investment Management LLC.'s holdings in Hershey were worth $16,315,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Kennon Green & Company LLC increased its stake in Hershey by 33.3% during the first quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock valued at $7,379,000 after acquiring an additional 10,784 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of Hershey by 8.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock worth $3,186,000 after acquiring an additional 1,390 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of Hershey by 9.5% in the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock worth $5,460,000 after acquiring an additional 2,757 shares in the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of Hershey by 8.1% in the 1st quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock worth $3,617,000 after acquiring an additional 1,582 shares in the last quarter. Finally, Elevate Capital Advisors LLC boosted its holdings in shares of Hershey by 23.2% in the 1st quarter. Elevate Capital Advisors LLC now owns 14,105 shares of the company's stock worth $2,412,000 after acquiring an additional 2,657 shares in the last quarter. 57.96% of the stock is currently owned by institutional investors.
Hershey Stock Performance
HSY stock traded up $2.65 during mid-day trading on Thursday, hitting $164.60. 2,135,219 shares of the company were exchanged, compared to its average volume of 1,809,646. The business has a 50 day simple moving average of $165.61 and a 200-day simple moving average of $164.80. The company has a current ratio of 1.59, a quick ratio of 1.11 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $33.35 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 5.98 and a beta of 0.30. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03.
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, beating 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 company had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.81 billion. During the same period in the previous year, the business earned $3.07 earnings per share. The firm's quarterly revenue was down 13.8% on a year-over-year basis. On average, equities analysts forecast that Hershey Company will post 6.12 earnings per share 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 annualized dividend and a yield of 3.33%. Hershey's dividend payout ratio is currently 67.57%.
Insider Activity
In other Hershey news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction on Friday, May 30th. The shares were sold at an average price of $160.80, for a total transaction of $5,018,568.00. Following the sale, the chief executive officer owned 193,624 shares of the company's stock, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction 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 directly owned 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% 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 in the last three months. Company insiders own 0.34% of the company's stock.
Analyst Ratings Changes
Several research firms recently weighed in on HSY. Barclays boosted their price objective on shares of Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Royal Bank Of Canada lowered their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Morgan Stanley lowered their target price on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Mizuho cut their price objective on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 28th. Finally, Citigroup decreased 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. Six investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $158.84.
View Our Latest Stock Analysis on Hershey
About Hershey
(
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.
Further Reading
Before you consider Hershey, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hershey wasn't on the list.
While Hershey currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
