Intact Investment Management Inc. Makes New Investment in The Hershey Company (NYSE:HSY)

Intact Investment Management Inc. acquired a new position in shares of The Hershey Company (NYSE:HSY - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 16,300 shares of the company's stock, valued at approximately $3,039,000.

A number of other institutional investors have also added to or reduced their stakes in HSY. Costello Asset Management INC acquired a new position in Hershey in the 3rd quarter valued at approximately $25,000. BKM Wealth Management LLC bought a new position in Hershey during the fourth quarter worth $26,000. First Financial Corp IN bought a new position in Hershey during the fourth quarter worth $29,000. Highlander Capital Management LLC lifted its stake in shares of Hershey by 125.3% in the fourth quarter. Highlander Capital Management LLC now owns 169 shares of the company's stock valued at $32,000 after buying an additional 94 shares in the last quarter. Finally, Rakuten Securities Inc. bought a new position in shares of Hershey during the fourth quarter valued at about $32,000. 57.96% of the stock is currently owned by institutional investors and hedge funds.

Hershey Trading Down 0.5 %

Shares of HSY traded down $0.99 during mid-day trading on Friday, reaching $186.16. The company's stock had a trading volume of 1,186,506 shares, compared to its average volume of 1,496,720. The stock has a market cap of $37.97 billion, a PE ratio of 20.57, a P/E/G ratio of 2.86 and a beta of 0.34. The company has a current ratio of 0.97, a quick ratio of 0.52 and a debt-to-equity ratio of 0.92. The Hershey Company has a 52 week low of $178.82 and a 52 week high of $276.88. The company's fifty day moving average price is $191.74 and its two-hundred day moving average price is $190.61.

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

Hershey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Tuesday, February 20th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from Hershey's previous quarterly dividend of $1.19. The ex-dividend date was Friday, February 16th. Hershey's payout ratio is presently 60.55%.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 453 shares of the business's stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $198.54, for a total value 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 approximately $369,681.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Steven E. Voskuil sold 1,500 shares of Hershey stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $185.83, for a total value of $278,745.00. Following the transaction, the chief financial officer now directly owns 38,728 shares of the company's stock, valued at $7,196,824.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jennifer Mccalman sold 453 shares of Hershey 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 completion of the transaction, the chief accounting officer now directly owns 1,862 shares in the company, valued at $369,681.48. The disclosure for this sale can be found here. In the last ninety days, insiders sold 3,453 shares of company stock worth $665,534. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Barclays raised their price objective on shares of Hershey from $200.00 to $210.00 and gave the stock an "equal weight" rating in a report on Monday, February 12th. Edward Jones reiterated a "hold" rating on shares of Hershey in a research note on Friday, April 19th. Wells Fargo & Company reduced their target price on shares of Hershey from $205.00 to $200.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 17th. Citigroup reduced their target price on shares of Hershey from $213.00 to $199.00 and set a "neutral" rating for the company in a research note on Thursday, April 11th. Finally, BNP Paribas downgraded shares of Hershey from an "outperform" rating to a "neutral" rating and set a $208.00 target price for the company. in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, Hershey currently has an average rating of "Hold" and an average price target 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.