Wellington Management Group LLP lowered its stake in The Hershey Company (NYSE:HSY - Free Report) by 74.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,271 shares of the company's stock after selling 3,722 shares during the period. Wellington Management Group LLP's holdings in Hershey were worth $215,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in HSY. Capital International Investors lifted its position in shares of Hershey by 31.4% in the fourth quarter. Capital International Investors now owns 12,460,147 shares of the company's stock worth $2,110,126,000 after buying an additional 2,980,997 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Hershey in the fourth quarter worth about $80,978,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Hershey by 38.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,628,047 shares of the company's stock worth $275,710,000 after buying an additional 453,428 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hershey by 5.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares during the last quarter. Finally, Freestone Grove Partners LP acquired a new stake in shares of Hershey in the fourth quarter worth about $27,902,000. Institutional investors and hedge funds own 57.96% of the company's stock.
Insider Transactions at Hershey
In other Hershey news, CEO Michele Buck sold 31,210 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 193,624 shares of the company's stock, valued at approximately $31,134,739.20. The trade was a 13.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Jennifer Mccalman sold 974 shares of Hershey stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $157.11, for a total value of $153,025.14. Following the completion of the transaction, the chief accounting officer now directly owns 2,994 shares of the company's stock, valued at $470,387.34. This represents a 24.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.34% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on HSY. Royal Bank of Canada reduced their price target on Hershey from $178.00 to $175.00 and set a "sector perform" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company lifted their price objective on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Barclays lifted 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. Sanford C. Bernstein lifted their price objective on Hershey from $147.00 to $155.00 and gave the stock a "market perform" rating in a research note on Friday, May 2nd. Finally, Citigroup dropped their price objective on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Five analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $158.84.
Check Out Our Latest Report on Hershey
Hershey Trading Down 0.6%
Shares of HSY opened at $161.83 on Monday. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $208.03. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $32.79 billion, a price-to-earnings ratio of 14.85, a P/E/G ratio of 5.90 and a beta of 0.29. The stock's 50-day moving average price is $163.17 and its 200 day moving average price is $165.80.
Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $2.09 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.15. The company had revenue of $2.81 billion for the quarter, compared to analyst estimates of $2.81 billion. Hershey had a return on equity of 44.77% and a net margin of 19.83%. The company's revenue was down 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $3.07 EPS. As a group, research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.
Hershey Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date is Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.39%. Hershey's dividend payout ratio is 67.57%.
Hershey Profile
(
Free Report)
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.
Further Reading
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