OneDigital Investment Advisors LLC lifted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 133.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,448 shares of the company's stock after purchasing an additional 4,825 shares during the quarter. OneDigital Investment Advisors LLC's holdings in Hershey were worth $1,445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also made changes to their positions in the stock. Kennon Green & Company LLC raised its position 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 in the last quarter. Envestnet Portfolio Solutions Inc. raised its position in Hershey by 8.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock valued at $3,186,000 after acquiring an additional 1,390 shares in the last quarter. Vontobel Holding Ltd. raised its position in Hershey by 8.1% during the first quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock valued at $3,617,000 after acquiring an additional 1,582 shares in the last quarter. Elevate Capital Advisors LLC raised its position in Hershey by 23.2% during the first quarter. Elevate Capital Advisors LLC now owns 14,105 shares of the company's stock valued at $2,412,000 after acquiring an additional 2,657 shares in the last quarter. Finally, Global View Capital Management LLC bought a new position in Hershey during the fourth quarter valued at approximately $253,000. 57.96% of the stock is owned by hedge funds and other institutional investors.
Hershey Stock Down 0.5%
Shares of HSY stock opened at $175.62 on Tuesday. The stock has a market cap of $35.58 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 6.52 and a beta of 0.30. Hershey Company has a one year low of $140.13 and a one year high of $208.03. The stock has a fifty day moving average price of $165.66 and a 200 day moving average price of $164.81. 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 issued its earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping the consensus estimate of $1.94 by $0.15. The firm had revenue of $2.81 billion during the quarter, compared to analysts' expectations of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. Hershey's quarterly revenue was down 13.8% compared to the same quarter last year. During the same period last year, the business earned $3.07 earnings per share. Analysts predict that Hershey Company will post 6.12 earnings per share for the current year.
Hershey Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued 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 dividend yield of 3.12%. Hershey's payout ratio is presently 67.57%.
Insider Buying and Selling
In other Hershey news, CEO Michele Buck sold 31,210 shares of Hershey 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 completion of the transaction, the chief executive officer directly owned 193,624 shares of the company's stock, valued at approximately $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at approximately $4,431,175. The trade was a 4.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 54,107 shares of company stock valued at $9,008,118 in the last ninety days. Insiders own 0.34% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently weighed in on HSY shares. Barclays raised their price objective on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Mizuho lowered their price target on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. UBS Group lowered their price target on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Sanford C. Bernstein increased their price target on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded Hershey from a "hold" rating to a "sell" rating in a report on Sunday. Six research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $158.84.
Get Our Latest Research Report on Hershey
Hershey Company Profile
(
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.
Featured Stories
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