Massachusetts Financial Services Co. MA Purchases 125,509 Shares of Hershey Company (The) (NYSE:HSY)

Massachusetts Financial Services Co. MA grew its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 21.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 710,270 shares of the company's stock after acquiring an additional 125,509 shares during the period. Massachusetts Financial Services Co. MA owned 0.35% of Hershey worth $121,477,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HSY. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Hershey by 36.7% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,235 shares of the company's stock worth $2,919,000 after purchasing an additional 4,630 shares during the period. Cibc World Markets Corp increased its holdings in shares of Hershey by 15.2% in the fourth quarter. Cibc World Markets Corp now owns 57,970 shares of the company's stock worth $9,817,000 after purchasing an additional 7,654 shares during the period. Axxcess Wealth Management LLC increased its holdings in shares of Hershey by 0.8% in the fourth quarter. Axxcess Wealth Management LLC now owns 17,003 shares of the company's stock worth $2,879,000 after purchasing an additional 132 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of Hershey by 10.5% in the fourth quarter. Advisors Asset Management Inc. now owns 31,022 shares of the company's stock worth $5,254,000 after purchasing an additional 2,937 shares during the period. Finally, Generali Asset Management SPA SGR bought a new position in shares of Hershey in the fourth quarter worth $1,509,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Up 0.0%

Shares of NYSE:HSY traded up $0.03 on Friday, reaching $171.26. 2,394,123 shares of the company traded hands, compared to its average volume of 1,812,417. The business's 50-day simple moving average is $165.40 and its 200 day simple moving average is $164.64. 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 $34.70 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 6.07 and a beta of 0.30. 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, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $2.81 billion. During the same period last year, the firm earned $3.07 earnings per share. The company's revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities analysts anticipate that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were paid a dividend of $1.37 per share. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.20%. Hershey's dividend payout ratio (DPR) is currently 67.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Mizuho decreased their price target on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. Citigroup decreased their price target on shares of Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. UBS Group decreased their price target on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a report on Friday, May 2nd. Morgan Stanley decreased their price target on shares of Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a report on Thursday, April 17th. Finally, Sanford C. Bernstein increased their target price on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Six analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, Hershey presently has a consensus rating of "Hold" and an average price target of $158.84.

Insiders Place Their Bets

In related news, SVP James Turoff sold 1,300 shares of the firm'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 $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. This trade represents a 4.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Rohit Grover sold 1,333 shares of the firm'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 in the company, valued at $6,895,350. The trade was a 3.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 54,107 shares of company stock valued at $9,008,118 over the last three months. Company 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.