Mediolanum International Funds Ltd Buys 9,387 Shares of Hershey Company (The) $HSY

Key Points

• Mediolanum International Funds Ltd increased its Hershey stake by 41.6% in the first quarter, buying 9,387 more shares and bringing its total to 31,933 shares valued at about $6.8 million.
• Several analysts recently turned more cautious on Hershey, with firms including JPMorgan, Mizuho, Barclays, Weiss Ratings and Zacks Research trimming price targets or ratings. The stock’s consensus view is now Hold, with an average target price of $212.56.
• Hershey reported solid quarterly results, beating expectations with $2.35 EPS and $3.10 billion in revenue, while also paying a $1.452 quarterly dividend that annualizes to a 3.4% yield.

Mediolanum International Funds Ltd grew its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 41.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 31,933 shares of the company's stock after buying an additional 9,387 shares during the quarter. Mediolanum International Funds Ltd's holdings in Hershey were worth $6,819,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PBU The Pension Fund of Early Childhood & Youth Educators bought a new position in Hershey during the 4th quarter valued at about $9,633,000. Prudential PLC grew its stake in shares of Hershey by 237.3% in the fourth quarter. Prudential PLC now owns 7,988 shares of the company's stock worth $1,454,000 after acquiring an additional 5,620 shares during the period. Friedenthal Financial grew its stake in shares of Hershey by 38,266.7% in the fourth quarter. Friedenthal Financial now owns 5,755 shares of the company's stock worth $1,047,000 after acquiring an additional 5,740 shares during the period. Jefferies Financial Group Inc. purchased a new position in shares of Hershey during the fourth quarter valued at approximately $2,744,000. Finally, Fifth Third Bancorp raised its holdings in shares of Hershey by 126.4% during the first quarter. Fifth Third Bancorp now owns 84,215 shares of the company's stock valued at $17,508,000 after purchasing an additional 47,017 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on HSY shares. JPMorgan Chase & Co. dropped their price objective on shares of Hershey from $204.00 to $191.00 and set a "neutral" rating on the stock in a report on Monday, July 13th. Mizuho cut their price objective on Hershey from $195.00 to $185.00 and set a "neutral" rating for the company in a research note on Wednesday, May 20th. Barclays reduced their target price on shares of Hershey from $225.00 to $220.00 and set an "equal weight" rating for the company in a report on Monday, May 4th. Weiss Ratings cut shares of Hershey from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday, June 26th. Finally, Zacks Research cut shares of Hershey from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 7th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $212.56.

Insider Buying and Selling at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the business's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the sale, the chief financial officer owned 54,695 shares in the company, valued at approximately $9,485,753.85. The trade was a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.08% of the company's stock.

Hershey Stock Performance

Shares of NYSE HSY opened at $171.48 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 0.77 and a current ratio of 1.24. The company has a market cap of $34.78 billion, a P/E ratio of 31.93, a P/E/G ratio of 1.03 and a beta of 0.11. The firm's fifty day moving average is $181.85 and its two-hundred day moving average is $197.16. Hershey Company has a 52-week low of $161.43 and a 52-week high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, beating the consensus estimate of $2.04 by $0.31. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. The business's revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.09 EPS. As a group, analysts anticipate that Hershey Company will post 8.42 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 15th were issued a $1.452 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.4%. Hershey's dividend payout ratio (DPR) is 108.19%.

About Hershey

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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