Opal Capital LLC Purchases 11,886 Shares of Hershey Company (The) $HSY

Key Points

• Opal Capital increased its Hershey position by 38.7% in the first quarter, purchasing 11,886 shares to own 42,634 shares valued at approximately $8.86 million.
• Other institutional investors also expanded their holdings, and institutions collectively own 57.96% of Hershey’s outstanding stock.
• Analyst sentiment remains cautious, with Hershey carrying a consensus “Hold” rating and an average price target of $208.28; the stock recently traded at $183.53 after reporting quarterly earnings and revenue above expectations.

Opal Capital LLC grew its position in Hershey Company (The) (NYSE:HSY - Free Report) by 38.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 42,634 shares of the company's stock after buying an additional 11,886 shares during the period. Hershey makes up about 1.6% of Opal Capital LLC's investment portfolio, making the stock its 15th largest holding. Opal Capital LLC's holdings in Hershey were worth $8,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Hershey during the fourth quarter valued at approximately $272,506,000. Marshall Wace LLP raised its holdings in Hershey by 546.6% in the 4th quarter. Marshall Wace LLP now owns 1,057,476 shares of the company's stock worth $192,439,000 after acquiring an additional 893,940 shares during the last quarter. First Trust Advisors LP lifted its position in Hershey by 315.4% in the 1st quarter. First Trust Advisors LP now owns 1,083,675 shares of the company's stock valued at $225,285,000 after acquiring an additional 822,772 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in Hershey by 150.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 1,278,881 shares of the company's stock valued at $232,731,000 after acquiring an additional 767,478 shares in the last quarter. Finally, Pacer Advisors Inc. boosted its stake in Hershey by 4,478.5% during the 4th quarter. Pacer Advisors Inc. now owns 586,141 shares of the company's stock valued at $106,666,000 after purchasing an additional 573,339 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on HSY. Evercore set a $225.00 target price on Hershey in a report on Thursday, July 23rd. Barclays dropped their price objective on Hershey from $220.00 to $208.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 21st. Zacks Research downgraded Hershey from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. TD Cowen raised Hershey from a "hold" rating to a "buy" rating and set a $210.00 target price for the company in a research report on Friday, May 1st. Finally, Mizuho lowered their target price on shares of Hershey from $195.00 to $185.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 20th. Seven equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat.com, Hershey presently has a consensus rating of "Hold" and a consensus target price of $208.28.

Insider Activity

In related news, CFO Steven E. Voskuil sold 1,500 shares of the firm's stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $170.00, for a total value of $255,000.00. Following the transaction, the chief financial officer owned 53,195 shares of the company's stock, valued at approximately $9,043,150. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 0.08% of the company's stock.

Hershey Stock Performance

HSY stock opened at $183.53 on Wednesday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 0.77. Hershey Company has a 1 year low of $161.43 and a 1 year high of $239.48. The company has a market cap of $37.23 billion, a P/E ratio of 34.18, a price-to-earnings-growth ratio of 1.12 and a beta of 0.11. The stock's fifty day moving average price is $179.94 and its 200-day moving average price is $196.93.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $2.35 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $3.03 billion. During the same quarter in the prior year, the business earned $2.09 earnings per share. Hershey's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that Hershey Company will post 8.42 earnings per share for the current year.

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.

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