Alliancebernstein L.P. Has $44.75 Million Position in The Hershey Company (NYSE:HSY)

Alliancebernstein L.P. lifted its holdings in The Hershey Company (NYSE:HSY - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 264,267 shares of the company's stock after purchasing an additional 94,539 shares during the quarter. Alliancebernstein L.P. owned 0.13% of Hershey worth $44,754,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HSY. Public Sector Pension Investment Board lifted its position in shares of Hershey by 18.3% in the third quarter. Public Sector Pension Investment Board now owns 6,470 shares of the company's stock worth $1,241,000 after purchasing an additional 1,000 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Hershey in the third quarter worth $385,000. Investment Management Corp of Ontario lifted its position in shares of Hershey by 48.0% in the third quarter. Investment Management Corp of Ontario now owns 4,931 shares of the company's stock worth $946,000 after purchasing an additional 1,600 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in Hershey by 49.1% during the third quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the company's stock worth $2,124,000 after acquiring an additional 3,647 shares in the last quarter. Finally, Royal London Asset Management Ltd. raised its position in Hershey by 2.1% during the third quarter. Royal London Asset Management Ltd. now owns 93,738 shares of the company's stock worth $17,977,000 after acquiring an additional 1,922 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

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Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Bank of America reaffirmed a "neutral" rating and set a $180.00 price target on shares of Hershey in a research report on Thursday, December 12th. Stifel Nicolaus decreased their price objective on shares of Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a report on Friday, February 7th. Barclays decreased their price target on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Morgan Stanley started coverage on shares of Hershey in a research note on Monday, March 24th. They set an "equal weight" rating and a $183.00 price objective on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $162.50.

Insider Transactions at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the completion of the sale, the chief accounting officer now owns 2,682 shares of the company's stock, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.34% of the company's stock.

Hershey Trading Down 0.5 %

Hershey stock traded down $0.88 during mid-day trading on Thursday, hitting $163.28. 324,761 shares of the stock were exchanged, compared to its average volume of 1,794,667. 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 Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92. The firm's fifty day simple moving average is $166.65 and its two-hundred day simple moving average is $171.67. The stock has a market capitalization of $33.05 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 5.90 and a beta of 0.28.

Hershey (NYSE:HSY - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a net margin of 19.83% and a return on equity of 44.77%. 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 was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a dividend of $1.37 per share. This represents a $5.48 annualized dividend and a dividend yield of 3.36%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio (DPR) is 50.28%.

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.