Nomura Asset Management Co. Ltd. Has $10.86 Million Holdings in Hershey Company (The) $HSY

Key Points

• Nomura Asset Management boosted its Hershey stake by 16.5% in the fourth quarter, bringing its holdings to 59,685 shares worth about $10.86 million.
• Hershey’s latest earnings beat expectations, with EPS of $2.35 versus $2.04 estimated and revenue of $3.10 billion, up 10.7% year over year.
• Analyst sentiment remains cautious overall: several firms trimmed price targets, and the stock carries a “Hold” consensus with an average target of $218.06, while Hershey also announced a quarterly dividend of $1.452 per share.

Nomura Asset Management Co. Ltd. increased its holdings in Hershey Company (The) (NYSE:HSY - Free Report) by 16.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,685 shares of the company's stock after acquiring an additional 8,439 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Hershey were worth $10,861,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in HSY. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Hershey by 6.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 15,310 shares of the company's stock worth $2,618,000 after purchasing an additional 937 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in Hershey by 20.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 697 shares of the company's stock worth $116,000 after purchasing an additional 117 shares in the last quarter. Gamco Investors INC. ET AL bought a new stake in Hershey in the 2nd quarter worth about $267,000. Bank of Nova Scotia grew its position in Hershey by 4.5% in the 2nd quarter. Bank of Nova Scotia now owns 17,927 shares of the company's stock worth $2,975,000 after purchasing an additional 769 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its position in Hershey by 5.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 22,247 shares of the company's stock worth $3,692,000 after purchasing an additional 1,149 shares in the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Hershey from $211.00 to $204.00 and set a "neutral" rating for the company in a research report on Friday, May 1st. DA Davidson reduced their price objective on shares of Hershey from $230.00 to $208.00 and set a "neutral" rating for the company in a research report on Monday, May 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $185.00 price objective on shares of Hershey in a research report on Tuesday, February 3rd. TD Cowen raised shares of Hershey from a "hold" rating to a "buy" rating and set a $210.00 price objective for the company in a research report on Friday, May 1st. Finally, The Goldman Sachs Group set a $240.00 price objective on shares of Hershey in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $218.06.

Insider Buying and Selling

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, April 20th. The shares were sold at an average price of $194.10, for a total value of $291,150.00. Following the completion of the transaction, the chief financial officer directly owned 57,695 shares of the company's stock, valued at approximately $11,198,599.50. This trade represents a 2.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 0.08% of the company's stock.

Hershey Stock Down 1.2%

HSY opened at $184.12 on Wednesday. The company has a 50 day moving average of $196.96 and a 200 day moving average of $198.76. The company has a market cap of $37.35 billion, a PE ratio of 34.29, a price-to-earnings-growth ratio of 1.12 and a beta of 0.09. Hershey Company has a 12 month low of $158.67 and a 12 month high of $239.48. The company has a current ratio of 1.24, a quick ratio of 0.77 and a debt-to-equity ratio of 0.99.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, topping the consensus estimate of $2.04 by $0.31. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.03 billion. Hershey had a net margin of 9.12% and a return on equity of 28.98%. Hershey's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $2.09 EPS. On average, sell-side analysts expect that Hershey Company will post 8.45 EPS for the current year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 15th will be issued a $1.452 dividend. The ex-dividend date of this dividend is Friday, May 15th. This represents a $5.81 annualized dividend and a yield of 3.2%. Hershey's dividend payout ratio (DPR) is 108.19%.

Hershey Profile

The Hershey Company NYSE: HSY is a leading North American chocolatier and snack manufacturer headquartered in Hershey, Pennsylvania. The company develops, produces and markets a wide range of confectionery and snack products for retail, foodservice and international customers. Hershey's business spans manufacturing, branded product marketing, packaging and distribution across grocery, convenience, mass merchant and e-commerce channels.

Hershey's product portfolio centers on chocolate and sugar confectionery, including core brands such as Hershey's, Reese's, Hershey's Kisses and Twizzlers, alongside non-chocolate snacks and confectionery brands.

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.