Versant Capital Management Inc Buys New Shares in The Hershey Company (NYSE:HSY)

Versant Capital Management Inc acquired a new stake in The Hershey Company (NYSE:HSY - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,898 shares of the company's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Montag & Caldwell LLC acquired a new stake in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC purchased a new position in Hershey in the fourth quarter valued at about $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Hershey in the fourth quarter worth about $28,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Hershey in the fourth quarter valued at about $29,000. 57.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Jennifer Mccalman sold 974 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $157.11, for a total value of $153,025.14. Following the sale, the chief accounting officer now directly owns 2,994 shares of the company's stock, valued at approximately $470,387.34. This trade represents a 24.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Hershey from $167.00 to $155.00 and set a "neutral" rating for the company in a research report on Wednesday, May 28th. DA Davidson lifted their target price on Hershey from $162.00 to $163.00 and gave the stock a "neutral" rating in a research report on Monday, May 5th. Bernstein Bank reduced their target price on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a report on Wednesday, February 5th. Barclays raised their price objective on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Monday, May 5th. Finally, Stifel Nicolaus lowered their target price on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research note on Friday, February 7th. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $158.84.

Hershey Stock Up 1.0%

NYSE HSY traded up $1.65 during trading on Tuesday, hitting $163.10. 1,052,854 shares of the company traded hands, compared to its average volume of 1,778,372. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $208.03. The business has a fifty day simple moving average of $163.81 and a 200 day simple moving average of $166.08. The company has a market capitalization of $33.04 billion, a P/E ratio of 14.96, a PEG ratio of 5.90 and a beta of 0.32. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68.

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, beating analysts' consensus estimates of $1.94 by $0.15. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The business had revenue of $2.81 billion for the quarter, compared to the consensus estimate of $2.81 billion. During the same period last year, the business earned $3.07 EPS. The firm's revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be paid a $1.37 dividend. The ex-dividend date is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.36%. Hershey's payout ratio is presently 67.57%.

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.