Canada Pension Plan Investment Board Purchases 1,619 Shares of The Hershey Company (NYSE:HSY)

Canada Pension Plan Investment Board increased its stake in The Hershey Company (NYSE:HSY - Free Report) by 0.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 184,860 shares of the company's stock after purchasing an additional 1,619 shares during the period. Canada Pension Plan Investment Board owned 0.09% of Hershey worth $31,306,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HSY. Charles Schwab Investment Management Inc. boosted its position in shares of Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after purchasing an additional 247,675 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Hershey by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock worth $642,139,000 after acquiring an additional 47,394 shares during the last quarter. Invesco Ltd. raised its position in shares of Hershey by 7.3% during the fourth quarter. Invesco Ltd. now owns 1,282,681 shares of the company's stock worth $217,222,000 after purchasing an additional 87,498 shares during the period. Principal Financial Group Inc. raised its holdings in Hershey by 66.7% during the 3rd quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after buying an additional 389,404 shares during the period. Finally, American Century Companies Inc. lifted its stake in Hershey by 15.1% during the fourth quarter. American Century Companies Inc. now owns 711,009 shares of the company's stock valued at $120,409,000 after buying an additional 93,009 shares in the last quarter. Institutional investors own 57.96% of the company's stock.

Insider Activity

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 sale, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.34% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HSY shares. Barclays reduced their target price on Hershey from $170.00 to $160.00 and set an "equal weight" rating for the company in a report on Monday, February 10th. Mizuho dropped their price target on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. DA Davidson lowered their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company increased their price objective on Hershey from $125.00 to $132.00 and gave the stock an "underweight" rating in a research note on Friday, March 14th. Finally, Piper Sandler lowered shares of 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 report on Friday, January 31st. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $163.35.

Hershey Price Performance

HSY stock traded down $0.83 during mid-day trading on Wednesday, hitting $166.61. The stock had a trading volume of 911,237 shares, compared to its average volume of 1,783,646. The firm has a fifty day simple moving average of $169.08 and a 200 day simple moving average of $170.08. The firm has a market capitalization of $33.72 billion, a P/E ratio of 15.29, a P/E/G 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 analysts' consensus estimates 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, research analysts forecast that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were given a $1.37 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 annualized dividend and a yield of 3.29%. Hershey's dividend payout ratio is presently 50.28%.

About Hershey

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.