Mirae Asset Global Investments Co. Ltd. Buys 32,223 Shares of Hershey Company (The) (NYSE:HSY)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 26.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 153,627 shares of the company's stock after purchasing an additional 32,223 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.08% of Hershey worth $26,095,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Montag & Caldwell LLC acquired a new position in shares of Hershey during the fourth quarter valued at about $25,000. Putney Financial Group LLC bought a new position in Hershey during the fourth quarter valued at about $25,000. Crowley Wealth Management Inc. bought a new position in Hershey during the fourth quarter valued at about $28,000. Mpwm Advisory Solutions LLC bought a new position in Hershey during the fourth quarter valued at about $28,000. Finally, Vision Financial Markets LLC bought a new position in Hershey during the fourth quarter valued at about $29,000. 57.96% of the stock is owned by institutional investors.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 974 shares of the business's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the transaction, the chief accounting officer now directly owns 2,994 shares of the company's stock, valued at $470,387.34. The trade was a 24.55% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michele Buck sold 31,210 shares of the company's stock in a transaction on Friday, May 30th. The stock was sold at an average price of $160.80, for a total value of $5,018,568.00. Following the transaction, the chief executive officer now directly owns 193,624 shares in the company, valued at approximately $31,134,739.20. This represents a 13.88% decrease in their position. The disclosure for this sale can be found here. 0.34% of the stock is owned by company insiders.

Hershey Stock Up 0.1%

Shares of HSY opened at $167.09 on Friday. The company has a market capitalization of $33.85 billion, a P/E ratio of 20.60, a PEG ratio of 6.10 and a beta of 0.29. 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 Company has a one year low of $140.13 and a one year high of $208.03. The business's 50 day simple moving average is $164.67 and its 200-day simple moving average is $165.01.

Hershey (NYSE:HSY - Get Free Report) last announced 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 business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. Hershey had a return on equity of 38.70% and a net margin of 15.32%. Hershey's revenue was down 13.8% compared to the same quarter last year. During the same period in the previous year, the business earned $3.07 EPS. As a group, sell-side analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.28%. The ex-dividend date was Friday, May 16th. Hershey's payout ratio is currently 67.57%.

Analyst Ratings Changes

HSY has been the topic of several research reports. Barclays boosted their price target on Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research note on Monday, May 5th. Royal Bank Of Canada lowered their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research note on Friday, May 2nd. Morgan Stanley lowered their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 17th. Citigroup lowered their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Mizuho lowered their price target on Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 28th. Five research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $158.84.

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.

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