Swiss National Bank Raises Stake in Hershey Company (The) $HSY

Key Points

• Swiss National Bank increased its Hershey stake by 7.1% in the first quarter, adding 29,000 shares to bring its total holdings to 434,900 shares worth about $90.4 million.
• Hershey reported better-than-expected quarterly results, with EPS of $2.35 versus $2.04 expected and revenue of $3.10 billion, up 10.7% from a year earlier.
• The company also paid a quarterly dividend of $1.452 per share, equal to a 3.4% annualized yield, though its payout ratio is currently high at 108.19%.

Swiss National Bank boosted its position in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 7.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 434,900 shares of the company's stock after acquiring an additional 29,000 shares during the period. Swiss National Bank owned about 0.21% of Hershey worth $90,411,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Syon Capital LLC increased its stake in Hershey by 1.5% in the fourth quarter. Syon Capital LLC now owns 3,020 shares of the company's stock valued at $550,000 after purchasing an additional 46 shares during the last quarter. Haverford Trust Co lifted its position in shares of Hershey by 0.7% during the 4th quarter. Haverford Trust Co now owns 6,796 shares of the company's stock worth $1,237,000 after buying an additional 46 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Hershey by 2.0% during the 4th quarter. Larson Financial Group LLC now owns 2,561 shares of the company's stock worth $466,000 after buying an additional 50 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Hershey by 0.7% in the 4th quarter. Venture Visionary Partners LLC now owns 8,034 shares of the company's stock valued at $1,462,000 after buying an additional 53 shares in the last quarter. Finally, ARS Wealth Advisors Group LLC boosted its holdings in shares of Hershey by 1.8% in the 4th quarter. ARS Wealth Advisors Group LLC now owns 3,070 shares of the company's stock valued at $559,000 after buying an additional 54 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Hershey Price Performance

Hershey stock opened at $171.48 on Tuesday. Hershey Company has a 52 week low of $161.43 and a 52 week high of $239.48. The company has a quick ratio of 0.77, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm's 50-day simple moving average is $181.85 and its 200 day simple moving average is $197.16. The firm has a market capitalization of $34.78 billion, a PE ratio of 31.93, a P/E/G ratio of 1.03 and a beta of 0.11.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $2.35 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $3.03 billion. During the same quarter last year, the business posted $2.09 earnings per share. Hershey's revenue was up 10.7% compared to the same quarter last year. On average, equities research analysts predict that Hershey Company will post 8.42 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 15th were issued a dividend of $1.452 per share. This represents a $5.81 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, May 15th. Hershey's dividend payout ratio is presently 108.19%.

Insider Activity

In other Hershey news, CFO Steven E. Voskuil sold 1,500 shares of the stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $173.43, for a total transaction of $260,145.00. Following the transaction, the chief financial officer owned 54,695 shares of the company's stock, valued at $9,485,753.85. This trade represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.08% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings lowered Hershey from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, June 26th. Evercore raised Hershey from an "in-line" rating to an "outperform" rating and set a $255.00 target price for the company in a report on Wednesday, May 27th. Jefferies Financial Group set a $190.00 target price on Hershey in a research report on Thursday. UBS Group dropped their price target on Hershey from $200.00 to $190.00 and set a "neutral" rating on the stock in a research note on Thursday, July 16th. Finally, TD Cowen raised Hershey from a "hold" rating to a "buy" rating and set a $210.00 price target on the stock in a research report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat, Hershey presently has an average rating of "Hold" and a consensus target price of $212.56.

Hershey Company 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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