Mediolanum International Funds Ltd Acquires 13,082 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Mediolanum International Funds Ltd increased its holdings in Hershey Company by 22.9%, bringing its total to 70,240 shares valued at approximately $11.93 million.
• Hershey has declared a quarterly dividend of $1.37, contributing to an annualized dividend yield of 2.92% with a payout ratio of 67.57%.
• Equities analysts have mixed views on Hershey stock, with a consensus rating of "Hold" and a target price averaging $160.16, reflecting lower price projections from multiple firms.

Mediolanum International Funds Ltd boosted its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 22.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,240 shares of the company's stock after buying an additional 13,082 shares during the period. Mediolanum International Funds Ltd's holdings in Hershey were worth $11,931,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HSY. Montag & Caldwell LLC purchased a new position in Hershey during the fourth quarter valued at $25,000. Putney Financial Group LLC bought a new stake in shares of Hershey in the fourth quarter worth about $25,000. Mpwm Advisory Solutions LLC bought a new stake in Hershey during the fourth quarter worth approximately $28,000. Proffitt & Goodson Inc. bought a new stake in Hershey during the first quarter worth approximately $28,000. Finally, Tradewinds Capital Management LLC increased its stake in Hershey by 129.5% during the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock worth $31,000 after acquiring an additional 101 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HSY. Sanford C. Bernstein boosted their target price on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research report on Friday, May 2nd. Piper Sandler boosted their price target on Hershey from $120.00 to $145.00 and gave the company an "underweight" rating in a report on Wednesday, July 23rd. Morgan Stanley lowered their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Stifel Nicolaus upped their target price on Hershey from $160.00 to $180.00 and gave the stock a "hold" rating in a report on Tuesday. Finally, UBS Group cut their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. Six research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $161.74.

Hershey Trading Up 2.2%

Shares of HSY stock traded up $4.09 during mid-day trading on Wednesday, hitting $190.32. 1,391,693 shares of the company's stock were exchanged, compared to its average volume of 1,864,329. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11. The stock has a market cap of $38.56 billion, a price-to-earnings ratio of 23.40, a PEG ratio of 4.57 and a beta of 0.30. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The stock has a 50-day simple moving average of $168.53 and a two-hundred day simple moving average of $165.52.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $0.98 by $0.23. The business had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business's revenue for the quarter was up 26.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 EPS. Equities analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.88%. Hershey's dividend payout ratio is presently 67.57%.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction on Wednesday, May 28th. The shares were 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 directly owned 2,994 shares in the company, valued at approximately $470,387.34. The trade was a 24.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $185.00, for a total transaction of $3,568,650.00. Following the completion of the sale, the chief executive officer directly owned 193,624 shares in the company, valued at $35,820,440. This trade represents a 9.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 99,021 shares of company stock worth $17,189,088 in the last three months. Insiders own 0.28% of the company's stock.

Hershey 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.