Townsquare Capital LLC Has $7.30 Million Holdings in Hershey Company (The) (NYSE:HSY)

Key Points

• Townsquare Capital LLC increased its holdings in Hershey Company by 9.2%, bringing its total to 42,708 shares valued at approximately $7.3 million.
• Hershey recently announced a quarterly dividend of $1.37 per share, which will be paid on September 15th, representing an annualized dividend yield of 3.0%.
• Hershey's stock faced a 1.8% decline, with a current market cap of $37.34 billion, amidst mixed analyst ratings that include five sell ratings and sixteen hold ratings.

Townsquare Capital LLC raised its position in Hershey Company (The) (NYSE:HSY - Free Report) by 9.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,708 shares of the company's stock after purchasing an additional 3,595 shares during the period. Townsquare Capital LLC's holdings in Hershey were worth $7,304,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HSY. Invesco Ltd. raised its stake in Hershey by 7.3% during the fourth quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock worth $217,222,000 after buying an additional 87,498 shares during the last quarter. Bank of Nova Scotia grew its position in shares of Hershey by 4.7% during the 4th quarter. Bank of Nova Scotia now owns 19,782 shares of the company's stock worth $3,350,000 after buying an additional 885 shares during the period. Scotia Capital Inc. boosted its stake in Hershey by 1.0% during the fourth quarter. Scotia Capital Inc. now owns 30,561 shares of the company's stock worth $5,176,000 after acquiring an additional 301 shares in the last quarter. Covestor Ltd boosted its stake in Hershey by 42.5% during the fourth quarter. Covestor Ltd now owns 238 shares of the company's stock worth $40,000 after acquiring an additional 71 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in Hershey by 16.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 18,297 shares of the company's stock worth $3,100,000 after purchasing an additional 2,591 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

Insider Activity

In other Hershey news, SVP James Turoff sold 1,300 shares of Hershey stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $175.00, for a total value of $227,500.00. Following the sale, the senior vice president owned 25,321 shares of the company's stock, valued at approximately $4,431,175. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Michele Buck sold 19,290 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $194.00, for a total transaction of $3,742,260.00. Following the completion of the transaction, the chief executive officer owned 193,624 shares in the company, valued at approximately $37,563,056. The trade was a 9.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 118,311 shares of company stock worth $20,931,348. 0.34% of the stock is owned by insiders.

Hershey Stock Down 1.8%

Hershey stock opened at $184.21 on Friday. Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $208.03. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.89 and a current ratio of 1.53. The firm's 50-day simple moving average is $173.53 and its 200 day simple moving average is $167.42. The stock has a market cap of $37.34 billion, a PE ratio of 24.46, a price-to-earnings-growth ratio of 4.45 and a beta of 0.27.

Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.98 by $0.23. The firm had revenue of $2.61 billion for the quarter, compared to the consensus estimate of $2.50 billion. Hershey had a return on equity of 37.36% and a net margin of 13.54%. The company's revenue was up 26.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 EPS. Research analysts predict that Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 15th will be given a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $5.48 annualized dividend and a dividend yield of 3.0%. Hershey's dividend payout ratio (DPR) is currently 72.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Royal Bank Of Canada dropped their price objective on shares of Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a report on Friday, May 2nd. Wells Fargo & Company boosted their target price on Hershey from $135.00 to $154.00 and gave the company an "underweight" rating in a research report on Thursday, July 31st. Bank of America increased their price target on Hershey from $175.00 to $208.00 and gave the stock a "neutral" rating in a report on Thursday, July 31st. Sanford C. Bernstein raised their price objective on Hershey from $155.00 to $179.00 and gave the company a "market perform" rating in a research note on Thursday, July 31st. Finally, Mizuho boosted their price objective on Hershey from $155.00 to $165.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Five investment analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $169.68.

Hershey 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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