Zurcher Kantonalbank Zurich Cantonalbank Increases Holdings in The Hershey Company (NYSE:HSY)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in The Hershey Company (NYSE:HSY - Free Report) by 91.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,779 shares of the company's stock after acquiring an additional 43,836 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Hershey were worth $17,111,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pinnacle Bancorp Inc. bought a new stake in Hershey in the third quarter worth approximately $25,000. Costello Asset Management INC bought a new stake in Hershey in the third quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in Hershey in the fourth quarter worth approximately $26,000. First Financial Corp IN bought a new stake in Hershey in the fourth quarter worth approximately $29,000. Finally, Zions Bancorporation N.A. increased its holdings in Hershey by 121.3% in the first quarter. Zions Bancorporation N.A. now owns 135 shares of the company's stock worth $29,000 after purchasing an additional 74 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $188.97, for a total transaction of $283,455.00. Following the transaction, the chief financial officer now owns 29,816 shares of the company's stock, valued at approximately $5,634,329.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Jennifer Mccalman sold 453 shares of the company's stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $198.54, for a total transaction of $89,938.62. Following the transaction, the chief accounting officer now owns 1,862 shares of the company's stock, valued at approximately $369,681.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven E. Voskuil sold 1,500 shares of the company's stock in a transaction on Tuesday, January 23rd. The shares were sold at an average price of $188.97, for a total value of $283,455.00. Following the transaction, the chief financial officer now directly owns 29,816 shares in the company, valued at approximately $5,634,329.52. The disclosure for this sale can be found here. Insiders have sold 3,453 shares of company stock valued at $670,244 in the last 90 days. Insiders own 0.34% of the company's stock.

Hershey Stock Performance

HSY stock traded up $0.16 during midday trading on Friday, hitting $185.02. The company's stock had a trading volume of 1,740,042 shares, compared to its average volume of 1,981,138. The stock's 50-day moving average price is $192.31 and its 200 day moving average price is $190.97. 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 Hershey Company has a 1 year low of $178.82 and a 1 year high of $276.88. The stock has a market cap of $37.73 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.80 and a beta of 0.34.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported $2.02 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $2.72 billion. During the same quarter in the previous year, the firm earned $2.02 earnings per share. The business's revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that The Hershey Company will post 9.6 EPS for the current year.

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Tuesday, February 20th were given a $1.37 dividend. The ex-dividend date was Friday, February 16th. This represents a $5.48 annualized dividend and a yield of 2.96%. This is a boost from Hershey's previous quarterly dividend of $1.19. Hershey's payout ratio is currently 60.55%.

Analysts Set New Price Targets

HSY has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their target price on Hershey from $185.00 to $193.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Edward Jones restated a "hold" rating on shares of Hershey in a report on Friday. Barclays boosted their price objective on Hershey from $200.00 to $210.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Wells Fargo & Company decreased their price objective on Hershey from $205.00 to $200.00 and set an "equal weight" rating for the company in a report on Wednesday. Finally, Morgan Stanley downgraded Hershey from an "equal weight" rating to an "underweight" rating and decreased their price objective for the company from $191.00 to $183.00 in a report on Monday, February 12th. One analyst has rated the stock with a sell rating, sixteen have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Hershey has a consensus rating of "Hold" and a consensus target price of $223.33.

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.