Capital International Investors Boosts Stock Position in The Hershey Company (NYSE:HSY)

Capital International Investors increased its holdings in The Hershey Company (NYSE:HSY - Free Report) by 31.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,460,147 shares of the company's stock after purchasing an additional 2,980,997 shares during the period. Capital International Investors owned approximately 6.16% of Hershey worth $2,110,126,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Capital International Sarl boosted its holdings in Hershey by 526.0% during the 4th quarter. Capital International Sarl now owns 16,809 shares of the company's stock valued at $2,847,000 after acquiring an additional 14,124 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Hershey by 0.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 184,860 shares of the company's stock valued at $31,306,000 after purchasing an additional 1,619 shares during the period. Marshall Wace LLP grew its holdings in shares of Hershey by 47.1% in the fourth quarter. Marshall Wace LLP now owns 19,441 shares of the company's stock worth $3,292,000 after purchasing an additional 6,226 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Hershey by 5.6% in the fourth quarter. NewEdge Advisors LLC now owns 6,242 shares of the company's stock worth $1,057,000 after buying an additional 331 shares during the period. Finally, Iron Gate Global Advisors LLC raised its holdings in Hershey by 5.1% during the 4th quarter. Iron Gate Global Advisors LLC now owns 75,424 shares of the company's stock valued at $12,768,000 after buying an additional 3,643 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Insider Activity at Hershey

In other news, CAO Jennifer Mccalman sold 278 shares of Hershey stock in a transaction 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 transaction, the chief accounting officer now owns 2,682 shares in the company, valued at $396,936. This trade represents a 9.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on HSY shares. Piper Sandler cut shares of Hershey from a "neutral" rating to an "underweight" rating and decreased their price objective for the company from $153.00 to $120.00 in a research report on Friday, January 31st. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $178.00 price target on shares of Hershey in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research report on Thursday, January 23rd. UBS Group raised their price target on Hershey from $159.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, April 17th. Finally, Mizuho reduced their price objective on shares of Hershey from $170.00 to $140.00 in a research report on Wednesday, February 5th. Five research analysts have rated the stock with a sell rating and fifteen have issued a hold rating to the stock. According to MarketBeat, Hershey has a consensus rating of "Hold" and a consensus target price of $163.35.

Hershey Stock Performance

Hershey stock traded down $1.57 during midday trading on Wednesday, reaching $165.87. 383,008 shares of the company traded hands, compared to its average volume of 1,781,612. The firm has a market capitalization of $33.57 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.96 and a quick ratio of 0.64. The business has a 50 day moving average of $169.08 and a two-hundred day moving average of $170.08. The Hershey Company has a 12 month low of $140.13 and a 12 month high of $211.92.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. As a group, research analysts predict that The Hershey Company will post 6.12 earnings per share for the current year.

Hershey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's payout ratio 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.