Moran Wealth Management LLC lifted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 5.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,801 shares of the company's stock after buying an additional 4,680 shares during the period. Moran Wealth Management LLC's holdings in Hershey were worth $15,359,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors boosted its position in Hershey by 31.4% during the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company's stock valued at $2,110,126,000 after purchasing an additional 2,980,997 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hershey by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after buying an additional 247,675 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hershey by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock valued at $642,139,000 after buying an additional 47,394 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Hershey by 38.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares during the last quarter. Finally, Northern Trust Corp raised its position in Hershey by 10.8% during the fourth quarter. Northern Trust Corp now owns 1,578,957 shares of the company's stock worth $267,396,000 after acquiring an additional 154,238 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling at Hershey
In other news, CEO Michele Buck sold 31,210 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $160.80, for a total value of $5,018,568.00. Following the completion of the transaction, the chief executive officer now owns 193,624 shares of the company's stock, valued at approximately $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total transaction of $153,025.14. Following the completion of the sale, the chief accounting officer now owns 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 disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.
Wall Street Analysts Forecast Growth
HSY has been the subject of a number of analyst reports. UBS Group decreased their price objective on shares of Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. 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 report on Friday, May 2nd. Sanford C. Bernstein upped their price objective on Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Citigroup decreased their target price on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Morgan Stanley dropped 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. Five investment analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $158.84.
Check Out Our Latest Stock Analysis on Hershey
Hershey Price Performance
Hershey stock traded down $0.54 during mid-day trading on Thursday, reaching $167.00. 1,980,005 shares of the company were exchanged, compared to its average volume of 1,799,002. The company has a fifty day simple moving average of $164.64 and a 200-day simple moving average of $165.42. The firm has a market cap of $33.83 billion, a PE ratio of 20.59, a PEG ratio of 6.28 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 12 month low of $140.13 and a 12 month high of $208.03.
Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.15. The business had revenue of $2.81 billion during 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 for the quarter was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.07 earnings per share. As a group, equities research analysts expect that Hershey Company will post 6.12 earnings per share for the current fiscal year.
Hershey Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a $1.37 dividend. The ex-dividend date was Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.28%. Hershey's dividend payout ratio (DPR) is 67.57%.
About Hershey
(
Free Report)
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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