Mirae Asset Global Investments Co. Ltd. Acquires 177,338 Shares of Hershey Company (The) $HSY

Key Points

• Mirae Asset Global Investments acquired 177,338 Hershey shares worth approximately $27.95 million, giving it a roughly 0.09% stake. Institutional investors collectively own 57.96% of the company.
• Hershey reported quarterly earnings of $2.64 per share, beating estimates of $2.11, while revenue rose 3.0% year over year to $3.28 billion. The company also declared a $1.452 quarterly dividend, representing a 3.4% annualized yield.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $193.81, compared with the stock’s reported price of $171.24.

Mirae Asset Global Investments Co. Ltd. acquired a new position in Hershey Company (The) (NYSE:HSY - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 177,338 shares of the company's stock, valued at approximately $27,950,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.09% of Hershey as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in HSY. Vise Technologies Inc. lifted its position in shares of Hershey by 5.3% during the third quarter. Vise Technologies Inc. now owns 17,615 shares of the company's stock worth $2,776,000 after purchasing an additional 894 shares in the last quarter. Intrua Financial LLC grew its stake in shares of Hershey by 4.2% during the third quarter. Intrua Financial LLC now owns 1,673 shares of the company's stock valued at $264,000 after purchasing an additional 67 shares during the last quarter. State of Wyoming acquired a new stake in shares of Hershey in the third quarter valued at approximately $60,000. Raleigh Capital Management Inc. increased its holdings in shares of Hershey by 37.6% in the third quarter. Raleigh Capital Management Inc. now owns 6,378 shares of the company's stock valued at $1,005,000 after purchasing an additional 1,742 shares in the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Hershey by 4,728.0% in the third quarter. International Assets Investment Management LLC now owns 80,000 shares of the company's stock valued at $12,609,000 after purchasing an additional 78,343 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Hershey Stock Up 3.4%

Shares of NYSE:HSY opened at $171.24 on Tuesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.18 and a quick ratio of 0.66. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 19.37, a P/E/G ratio of 1.37 and a beta of 0.10. The company has a 50 day moving average of $169.38 and a 200-day moving average of $188.91. Hershey Company has a one year low of $156.16 and a one year high of $239.48.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, October 29th. The company reported $2.64 earnings per share for the quarter, beating the consensus estimate of $2.11 by $0.53. Hershey had a net margin of 12.24% and a return on equity of 31.92%. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.25 billion. During the same period in the prior year, the business posted $1.30 earnings per share. Hershey's revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts forecast that Hershey Company will post 8.61 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 16th will be given a dividend of $1.4520 per share. The ex-dividend date is Monday, November 16th. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. Hershey's payout ratio is presently 65.72%.

Wall Street Analyst Weigh In

HSY has been the topic of several research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $194.00 price objective on shares of Hershey in a report on Friday. DA Davidson set a $170.00 price objective on Hershey in a research report on Friday. Stifel Nicolaus lowered their target price on Hershey from $215.00 to $180.00 and set a "hold" rating for the company in a research note on Wednesday, July 22nd. Wells Fargo & Company dropped their target price on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a research report on Friday. Finally, Rothschild & Co Redburn boosted their target price on Hershey from $166.00 to $170.00 and gave the stock a "sell" rating in a research report on Wednesday, August 5th. Seven investment analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Hershey currently has a consensus rating of "Hold" and an average target price of $193.81.

Hershey Company Profile

The Hershey Company NYSE: HSY is a global confectionery and snack food manufacturer headquartered in Hershey, Pennsylvania. Founded by Milton S. Hershey in 1894, the company began as a chocolate producer and has grown into one of the largest branded snack businesses in North America.

Hershey's portfolio includes chocolate, non-chocolate confectionery, gum and mints, and salty snacks. Its brands include Hershey's, Reese's, Hershey's Kisses, Kit Kat in the United States under license from Nestlé, Jolly Rancher, Twizzlers, Ice Breakers, SkinnyPop and Dot's Pretzels.

Want to see what other hedge funds are holding HSY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hershey Company (The) (NYSE:HSY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.