Hershey Company (The) (NYSE:HSY) Shares Bought by National Bank of Canada FI

Key Points

• National Bank of Canada FI increased its holdings in Hershey Company (NYSE:HSY) by 21.5%, acquiring an additional 19,917 shares in the first quarter, bringing its total to 112,640 shares valued at approximately $19.26 million.
• Hershey Company's recent quarterly earnings report showed a significant increase in revenue, with reported earnings per share of $1.21, exceeding analysts' expectations by $0.23, and a year-over-year revenue growth of 26.0%.
• The company declared a $1.37 quarterly dividend, equating to an annualized yield of 3.0%, with a shareholder payout ratio of 72.78%.

National Bank of Canada FI lifted its stake in Hershey Company (The) (NYSE:HSY - Free Report) by 21.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 112,640 shares of the company's stock after purchasing an additional 19,917 shares during the quarter. National Bank of Canada FI owned about 0.06% of Hershey worth $19,261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Kennon Green & Company LLC boosted its holdings in Hershey by 33.3% during the 1st quarter. Kennon Green & Company LLC now owns 43,146 shares of the company's stock valued at $7,379,000 after acquiring an additional 10,784 shares during the period. William Allan Corp boosted its holdings in Hershey by 173.1% during the 1st quarter. William Allan Corp now owns 18,593 shares of the company's stock valued at $3,180,000 after acquiring an additional 11,785 shares during the period. IFM Investors Pty Ltd boosted its holdings in Hershey by 9.5% during the 1st quarter. IFM Investors Pty Ltd now owns 31,925 shares of the company's stock valued at $5,460,000 after acquiring an additional 2,757 shares during the period. Envestnet Portfolio Solutions Inc. boosted its holdings in Hershey by 8.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,625 shares of the company's stock valued at $3,186,000 after acquiring an additional 1,390 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in Hershey by 8.1% during the 1st quarter. Vontobel Holding Ltd. now owns 21,151 shares of the company's stock valued at $3,617,000 after acquiring an additional 1,582 shares during the period. Hedge funds and other institutional investors own 57.96% of the company's stock.

Analyst Ratings Changes

HSY has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on Hershey from $173.00 to $189.00 and gave the company an "equal weight" rating in a report on Thursday, July 31st. DA Davidson boosted their price objective on Hershey from $171.00 to $188.00 and gave the company a "neutral" rating in a report on Monday, August 4th. Wall Street Zen upgraded Hershey from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Mizuho upped their target price on Hershey from $155.00 to $165.00 and gave the stock a "neutral" rating in a report on Monday, July 28th. Finally, Barclays upped their target price on Hershey from $165.00 to $190.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Four research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $168.83.

Insider Activity at Hershey

In related news, CEO Michele Buck sold 31,210 shares of the company's stock in a transaction that occurred 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 sale, the chief executive officer owned 193,624 shares in the company, valued at $31,134,739.20. This represents a 13.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Rohit Grover sold 1,334 shares of the company's stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $180.00, for a total value of $240,120.00. Following the completion of the sale, the insider owned 38,068 shares in the company, valued at approximately $6,852,240. This represents a 3.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 118,311 shares of company stock worth $20,931,348 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Hershey Stock Up 0.0%

Shares of NYSE HSY traded up $0.07 during mid-day trading on Thursday, reaching $180.13. 1,004,773 shares of the company were exchanged, compared to its average volume of 1,860,000. The company has a quick ratio of 0.89, a current ratio of 1.53 and a debt-to-equity ratio of 1.15. The stock has a market cap of $36.52 billion, a price-to-earnings ratio of 23.92, a P/E/G ratio of 4.26 and a beta of 0.27. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The firm has a 50-day moving average of $174.45 and a 200 day moving average of $167.87.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.23. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The company had revenue of $2.61 billion for the quarter, compared to analyst estimates of $2.50 billion. During the same period in the prior year, the company posted $1.27 EPS. The firm's quarterly revenue was up 26.0% compared to the same quarter last year. On average, research analysts expect that Hershey Company will post 6.12 earnings per share for the current year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 15th will be given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Friday, August 15th. Hershey's dividend payout ratio is currently 72.78%.

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.