Man Group plc Acquires 107,163 Shares of The Hershey Company (NYSE:HSY)

Man Group plc boosted its stake in The Hershey Company (NYSE:HSY - Free Report) by 283.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 144,910 shares of the company's stock after buying an additional 107,163 shares during the period. Man Group plc owned approximately 0.07% of Hershey worth $24,541,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Montag & Caldwell LLC bought a new position in Hershey during the 4th quarter valued at $25,000. Crowley Wealth Management Inc. acquired a new position in shares of Hershey in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in Hershey in the 4th quarter worth approximately $29,000. Grove Bank & Trust grew its stake in Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock valued at $29,000 after acquiring an additional 124 shares during the period. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Hershey during the 4th quarter worth about $34,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $153.00 to $120.00 in a report on Friday, January 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. UBS Group decreased their target price on Hershey from $175.00 to $170.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Wells Fargo & Company lifted their target price on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Finally, Stifel Nicolaus lowered their price target on shares of Hershey from $170.00 to $160.00 and set a "hold" rating for the company in a research report on Friday, February 7th. Five investment analysts have rated the stock with a sell rating and fifteen have given a hold rating to the stock. According to data from MarketBeat, Hershey has an average rating of "Hold" and a consensus target price of $161.40.

Hershey Trading Down 1.1%

NYSE:HSY traded down $1.81 during midday trading on Monday, hitting $156.68. The stock had a trading volume of 1,785,137 shares, compared to its average volume of 1,773,353. The Hershey Company has a one year low of $140.13 and a one year high of $209.65. The company has a market capitalization of $31.71 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 5.90 and a beta of 0.32. 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 stock has a 50-day moving average of $166.36 and a 200 day moving average of $167.70.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported $2.09 EPS for the quarter, topping 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 company had revenue of $2.81 billion for the quarter, compared to analysts' expectations of $2.81 billion. During the same period in the prior year, the firm earned $3.07 earnings per share. The firm's revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 16th will be paid a dividend of $1.37 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $5.48 dividend on an annualized basis and a yield of 3.50%. Hershey's payout ratio is currently 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.