M&T Bank Corp Increases Stake in Hershey Company (The) (NYSE:HSY)

M&T Bank Corp lifted its holdings in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 14.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 36,507 shares of the company's stock after purchasing an additional 4,684 shares during the period. M&T Bank Corp's holdings in Hershey were worth $6,244,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of HSY. Capital International Investors raised its stake in Hershey by 31.4% during the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after buying an additional 2,980,997 shares during the last quarter. Geode Capital Management LLC raised its stake in Hershey by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after buying an additional 47,394 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake 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. Northern Trust Corp raised its stake 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 buying an additional 154,238 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Hershey by 7.3% in the fourth quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock valued at $217,222,000 after purchasing an additional 87,498 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Hershey Stock Up 0.1%

Hershey stock traded up $0.18 during midday trading on Friday, hitting $164.82. 1,080,547 shares of the stock were exchanged, compared to its average volume of 1,806,630. Hershey Company has a 52-week low of $140.13 and a 52-week high of $208.03. The stock has a market capitalization of $33.39 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 6.08 and a beta of 0.30. The business's 50-day moving average price is $165.61 and its 200-day moving average price is $164.80. The company has a quick ratio of 1.11, a current ratio of 1.59 and a debt-to-equity ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.15. Hershey had a net margin of 15.32% and a return on equity of 38.70%. The business had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the previous year, the company earned $3.07 earnings per share. The firm's revenue for the quarter was down 13.8% compared to the same quarter last year. On average, research analysts expect that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's payout ratio is currently 67.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on HSY shares. Sanford C. Bernstein lifted their price target on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Hershey from a "hold" rating to a "sell" rating in a research note on Sunday, July 6th. Mizuho decreased their price target on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a research note on Wednesday, May 28th. Wells Fargo & Company lifted their price target on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research note on Friday, March 14th. Finally, DA Davidson lifted their price target on shares of Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research note on Monday, May 5th. Six equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to MarketBeat.com, Hershey has an average rating of "Hold" and a consensus target price of $158.84.

Insider Buying and Selling at Hershey

In related news, insider Rohit Grover sold 1,333 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total transaction of $233,275.00. Following the sale, the insider owned 39,402 shares of the company's stock, valued at approximately $6,895,350. This represents a 3.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of the company'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 transaction of $153,025.14. Following the sale, the chief accounting officer directly owned 2,994 shares in the company, valued at $470,387.34. This trade represents a 24.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 54,107 shares of company stock valued at $9,008,118. 0.34% of the stock is owned by corporate insiders.

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.