Pacer Advisors Inc. Buys 807,433 Shares of Hershey Company (The) (NYSE:HSY)

Key Points

• Pacer Advisors Inc. significantly increased its stake in Hershey Company by acquiring an additional 807,433 shares, bringing their ownership to 819,446 shares valued at $140.15 million.
• Hershey Company reported $2.09 earnings per share, beating analyst expectations of $1.94, but its revenue declined by 13.8% compared to the same quarter last year.
• The company declared a quarterly dividend of $1.37 per share, resulting in an annualized yield of 2.98% with a payout ratio of 67.57%.

Pacer Advisors Inc. grew its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 6,721.3% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 819,446 shares of the company's stock after acquiring an additional 807,433 shares during the period. Pacer Advisors Inc. owned about 0.40% of Hershey worth $140,150,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Montag & Caldwell LLC purchased a new stake in Hershey during the fourth quarter worth $25,000. Putney Financial Group LLC bought a new position in shares of Hershey in the 4th quarter worth $25,000. Mpwm Advisory Solutions LLC bought a new position in shares of Hershey in the 4th quarter worth $28,000. Proffitt & Goodson Inc. purchased a new stake in shares of Hershey during the 1st quarter worth $28,000. Finally, Tradewinds Capital Management LLC grew its stake in Hershey by 129.5% in the first quarter. Tradewinds Capital Management LLC now owns 179 shares of the company's stock valued at $31,000 after purchasing an additional 101 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Price Performance

NYSE:HSY opened at $184.07 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11. The company has a 50 day moving average price of $166.78 and a 200-day moving average price of $165.01. Hershey Company has a 1-year low of $140.13 and a 1-year high of $208.03. The firm has a market cap of $37.29 billion, a price-to-earnings ratio of 22.70, a price-to-earnings-growth ratio of 6.90 and a beta of 0.30.

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

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 16th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend was Friday, May 16th. Hershey's payout ratio is presently 67.57%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Sanford C. Bernstein raised their price target on shares of Hershey from $147.00 to $155.00 and gave the company a "market perform" rating in a report on Friday, May 2nd. Barclays increased their target price on shares of Hershey from $160.00 to $165.00 and gave the company an "equal weight" rating in a research report on Monday, May 5th. Mizuho cut their price target on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating on the stock in a report on Wednesday, May 28th. DA Davidson increased their price objective on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a report on Monday, May 5th. Finally, Wall Street Zen cut Hershey from a "hold" rating to a "sell" rating in a research report on Sunday, July 6th. Six equities research analysts have rated the stock with a sell rating and fifteen have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $160.16.

Insider Activity

In related news, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president directly owned 25,321 shares in the company, valued at approximately $4,431,175. The trade was a 4.88% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michele Buck sold 31,210 shares of the business'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 of the company's stock, valued at approximately $31,134,739.20. This trade represents a 13.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 99,021 shares of company stock worth $17,189,088. Company insiders own 0.34% of the company's stock.

Hershey Company 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.

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