Yacktman Asset Management LP Buys 4,520 Shares of Hershey Company (The) (NYSE:HSY)

Yacktman Asset Management LP grew its stake in shares of Hershey Company (The) (NYSE:HSY - Free Report) by 20.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,470 shares of the company's stock after buying an additional 4,520 shares during the period. Yacktman Asset Management LP's holdings in Hershey were worth $4,527,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Montag & Caldwell LLC bought a new position in Hershey during the fourth quarter worth about $25,000. Putney Financial Group LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $25,000. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey during the fourth quarter worth about $28,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of Hershey during the fourth quarter worth about $28,000. Finally, Proffitt & Goodson Inc. acquired a new stake in shares of Hershey during the first quarter worth about $28,000. Institutional investors own 57.96% of the company's stock.

Hershey Stock Performance

HSY opened at $169.98 on Wednesday. The business has a fifty day simple moving average of $165.75 and a 200 day simple moving average of $164.85. The company has a market capitalization of $34.44 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 6.48 and a beta of 0.30. Hershey Company has a 1 year low of $140.13 and a 1 year high of $208.03. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.59 and a quick ratio of 1.11.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 38.70% and a net margin of 15.32%. The firm's quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.07 EPS. Research analysts expect that Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 16th were issued a $1.37 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $5.48 annualized dividend and a yield of 3.22%. Hershey's dividend payout ratio is presently 67.57%.

Insider Buying and Selling

In other Hershey news, insider Rohit Grover sold 1,333 shares of Hershey stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $233,275.00. Following the completion of the transaction, the insider directly owned 39,402 shares of the company's stock, valued at $6,895,350. The trade was a 3.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James Turoff sold 1,300 shares of the business's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $175.00, for a total value of $227,500.00. Following the transaction, the senior vice president directly owned 25,321 shares of the company's stock, valued at $4,431,175. This trade represents a 4.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,107 shares of company stock valued at $9,008,118 over the last 90 days. 0.28% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HSY has been the topic of a number of research analyst reports. Morgan Stanley dropped their price target on Hershey from $183.00 to $177.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 17th. Barclays raised their price target on Hershey from $160.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Monday, May 5th. Royal Bank Of Canada dropped their target price on Hershey from $178.00 to $175.00 and set a "sector perform" rating on the stock in a research report on Friday, May 2nd. DA Davidson lifted their target price on Hershey from $162.00 to $163.00 and gave the company a "neutral" rating in a research report on Monday, May 5th. Finally, Wall Street Zen lowered Hershey from a "hold" rating to a "sell" rating in a research report on Sunday. Six investment analysts have rated the stock with a sell rating and fifteen have assigned a hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $158.84.

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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