Hendley & Co. Inc. Boosts Holdings in The Hershey Company (NYSE:HSY)

Hendley & Co. Inc. lifted its holdings in The Hershey Company (NYSE:HSY - Free Report) by 44.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,909 shares of the company's stock after purchasing an additional 13,866 shares during the period. Hershey makes up 3.3% of Hendley & Co. Inc.'s holdings, making the stock its 11th biggest holding. Hendley & Co. Inc.'s holdings in Hershey were worth $8,373,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Hershey in the fourth quarter valued at $411,828,000. Nordea Investment Management AB boosted its stake in shares of Hershey by 143.7% in the 3rd quarter. Nordea Investment Management AB now owns 2,465,403 shares of the company's stock valued at $496,039,000 after buying an additional 1,453,819 shares during the period. Wellington Management Group LLP grew its position in shares of Hershey by 2,693.0% during the first quarter. Wellington Management Group LLP now owns 1,094,755 shares of the company's stock worth $237,156,000 after buying an additional 1,055,559 shares in the last quarter. Morgan Stanley increased its stake in shares of Hershey by 57.2% during the fourth quarter. Morgan Stanley now owns 2,648,666 shares of the company's stock worth $613,352,000 after buying an additional 964,019 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its holdings in Hershey by 36.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,378,426 shares of the company's stock valued at $319,202,000 after acquiring an additional 369,940 shares in the last quarter. 57.96% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hershey

In other news, insider Charles R. Raup sold 2,065 shares of the company's stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $191.85, for a total transaction of $396,170.25. Following the completion of the transaction, the insider now owns 14,770 shares of the company's stock, valued at approximately $2,833,624.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Hershey news, CAO Jennifer Mccalman sold 453 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the completion of the sale, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles R. Raup sold 2,065 shares of Hershey stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $191.85, for a total value of $396,170.25. Following the completion of the transaction, the insider now directly owns 14,770 shares in the company, valued at $2,833,624.50. The disclosure for this sale can be found here. Insiders have sold 5,518 shares of company stock worth $1,066,414 over the last quarter. 0.29% of the stock is currently owned by insiders.

Hershey Stock Performance

NYSE:HSY traded down $2.51 during midday trading on Wednesday, reaching $192.07. The stock had a trading volume of 1,373,174 shares, compared to its average volume of 2,013,670. The Hershey Company has a 12-month low of $178.82 and a 12-month high of $276.88. The stock has a market cap of $39.17 billion, a P/E ratio of 21.22, a P/E/G ratio of 2.98 and a beta of 0.34. The company has a quick ratio of 0.52, a current ratio of 0.97 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $194.03 and a two-hundred day simple moving average of $191.75.

Hershey (NYSE:HSY - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported $2.02 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $0.07. Hershey had a return on equity of 51.79% and a net margin of 16.67%. The business had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.72 billion. During the same period in the prior year, the business posted $2.02 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that The Hershey Company will post 9.6 EPS for the current year.

Hershey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date of this dividend was Friday, February 16th. This is a positive change from Hershey's previous quarterly dividend of $1.19. Hershey's dividend payout ratio is currently 60.55%.

Wall Street Analyst Weigh In

HSY has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on shares of Hershey from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Friday, February 9th. Morgan Stanley downgraded Hershey from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $191.00 to $183.00 in a report on Monday, February 12th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $213.00 price objective on shares of Hershey in a report on Friday, March 15th. Sanford C. Bernstein upgraded Hershey from a "market perform" rating to an "outperform" rating and set a $235.00 target price for the company in a research note on Monday, January 29th. Finally, Citigroup started coverage on Hershey in a report on Thursday, February 1st. They issued a "neutral" rating and a $213.00 price target for the company. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $225.48.

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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