Aviva PLC Grows Position in The Hershey Company (NYSE:HSY)

Aviva PLC lifted its stake in shares of The Hershey Company (NYSE:HSY - Free Report) by 1,485.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 88,976 shares of the company's stock after buying an additional 83,363 shares during the period. Aviva PLC's holdings in Hershey were worth $15,068,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. UNIVEST FINANCIAL Corp grew its stake in Hershey by 1.5% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock valued at $762,000 after purchasing an additional 68 shares during the last quarter. OLD Point Trust & Financial Services N A boosted its position in Hershey by 2.2% in the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock valued at $549,000 after buying an additional 70 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Hershey by 1.3% in the 4th quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company's stock worth $939,000 after buying an additional 70 shares during the period. Private Trust Co. NA raised its position in Hershey by 1.5% during the 4th quarter. Private Trust Co. NA now owns 5,438 shares of the company's stock worth $921,000 after buying an additional 81 shares during the last quarter. Finally, Waterfront Wealth Inc. lifted its stake in Hershey by 1.4% during the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company's stock valued at $973,000 after acquiring an additional 82 shares during the period. 57.96% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

HSY has been the subject of several recent research reports. Wells Fargo & Company raised their target price on shares of Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a report on Friday, March 14th. Mizuho reduced their price objective on Hershey from $170.00 to $140.00 in a research note on Wednesday, February 5th. Piper Sandler downgraded Hershey from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $153.00 to $120.00 in a research note on Friday, January 31st. DA Davidson reduced their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Finally, Morgan Stanley began coverage on Hershey in a research report on Monday, March 24th. They issued an "equal weight" rating and a $183.00 price objective on the stock. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. According to data from MarketBeat.com, Hershey currently has a consensus rating of "Hold" and an average price target of $162.50.

Hershey Price Performance

HSY stock traded up $1.47 during midday trading on Friday, reaching $165.56. The stock had a trading volume of 1,233,925 shares, compared to its average volume of 1,800,614. The company's fifty day simple moving average is $167.39 and its 200 day simple moving average is $171.16. The company has a market cap of $33.51 billion, a price-to-earnings ratio of 15.19, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The company has a current ratio of 0.96, a quick ratio of 0.64 and a debt-to-equity ratio of 0.68. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share (EPS) for the quarter, beating 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%. As a group, sell-side analysts predict that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.

Insider Transactions at Hershey

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $148.00, for a total transaction of $41,144.00. Following the transaction, the chief accounting officer now directly owns 2,682 shares of the company's stock, valued at $396,936. The trade was a 9.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.34% of the company's stock.

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.