OP Asset Management Ltd Makes New $3.18 Million Investment in Hershey Company (The) $HSY

Key Points

• OP Asset Management Ltd opened a new position in Hershey, buying 15,307 shares worth about $3.18 million in the first quarter, according to its latest 13F filing.
• Hershey continues to attract heavy institutional ownership, with firms like Vanguard and Capital International Investors increasing stakes; overall, 57.96% of the stock is owned by institutions.
• The company reported better-than-expected quarterly earnings and revenue, but analysts remain cautious overall, with a consensus rating of Hold and an average price target of $217.50.

OP Asset Management Ltd purchased a new position in Hershey Company (The) (NYSE:HSY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,307 shares of the company's stock, valued at approximately $3,182,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in Hershey by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 19,067,235 shares of the company's stock worth $3,469,855,000 after buying an additional 191,671 shares in the last quarter. Capital International Investors lifted its stake in Hershey by 1.9% during the 4th quarter. Capital International Investors now owns 9,106,431 shares of the company's stock valued at $1,657,189,000 after acquiring an additional 169,660 shares during the period. State Street Corp boosted its holdings in shares of Hershey by 1.8% during the 3rd quarter. State Street Corp now owns 7,253,041 shares of the company's stock valued at $1,356,681,000 after acquiring an additional 128,982 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hershey by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,315,653 shares of the company's stock valued at $967,343,000 after acquiring an additional 124,464 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Hershey by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 4,831,101 shares of the company's stock worth $876,434,000 after acquiring an additional 104,024 shares during the period. 57.96% of the stock is owned by institutional investors.

Insider Buying and Selling at Hershey

In related news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total value of $260,145.00. Following the completion of the transaction, the chief financial officer owned 54,695 shares of the company's stock, valued at approximately $9,485,753.85. This represents a 2.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.08% of the stock is currently owned by insiders.

Hershey Trading Up 1.5%

NYSE:HSY opened at $179.32 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. The firm has a market capitalization of $36.37 billion, a price-to-earnings ratio of 33.39, a price-to-earnings-growth ratio of 1.08 and a beta of 0.09. Hershey Company has a one year low of $160.07 and a one year high of $239.48. The business has a fifty day moving average price of $186.10 and a 200-day moving average price of $198.05.

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

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 15th were given a $1.452 dividend. This represents a $5.81 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Friday, May 15th. Hershey's dividend payout ratio is presently 108.19%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Hershey from $211.00 to $204.00 and set a "neutral" rating on the stock in a research report on Friday, May 1st. Wells Fargo & Company cut their target price on shares of Hershey from $220.00 to $200.00 and set an "equal weight" rating for the company in a research report on Friday, May 1st. Morgan Stanley decreased their target price on shares of Hershey from $247.00 to $227.00 and set an "overweight" rating for the company in a research note on Thursday, April 23rd. Weiss Ratings downgraded Hershey from a "hold (c)" rating to a "hold (c-)" rating in a research note on Friday. Finally, Evercore raised Hershey from an "in-line" rating to an "outperform" rating and set a $255.00 price objective for the company in a report on Wednesday, May 27th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $217.50.

About Hershey

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.

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