Cibc World Markets Corp Boosts Stock Holdings in The Hershey Company (NYSE:HSY)

Cibc World Markets Corp raised its position in shares of The Hershey Company (NYSE:HSY - Free Report) by 15.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,970 shares of the company's stock after buying an additional 7,654 shares during the period. Cibc World Markets Corp's holdings in Hershey were worth $9,817,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of HSY. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Hershey during the 3rd quarter valued at about $1,337,000. Principal Financial Group Inc. boosted its stake in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares during the period. Woodstock Corp boosted its stake in shares of Hershey by 34.8% in the fourth quarter. Woodstock Corp now owns 6,896 shares of the company's stock valued at $1,168,000 after purchasing an additional 1,780 shares during the period. Elevate Capital Advisors LLC acquired a new position in shares of Hershey in the fourth quarter valued at approximately $1,939,000. Finally, Ethos Financial Group LLC increased its stake in Hershey by 59.8% during the 4th quarter. Ethos Financial Group LLC now owns 3,962 shares of the company's stock worth $671,000 after buying an additional 1,483 shares during the period. 57.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Hershey news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The stock was 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 directly owns 2,682 shares of the company's stock, valued at $396,936. This represents a 9.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.34% of the company's stock.

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Hershey Stock Performance

Shares of HSY traded up $2.91 during midday trading on Friday, reaching $167.38. 3,046,959 shares of the stock were exchanged, compared to its average volume of 1,751,028. The company has a market capitalization of $33.88 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 5.90 and a beta of 0.32. 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 Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The business's 50-day moving average price is $162.61 and its 200 day moving average price is $175.12.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating analysts' consensus estimates of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. On average, sell-side analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were paid a $1.37 dividend. The ex-dividend date was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.27%. Hershey's dividend payout ratio is presently 50.28%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HSY shares. Jefferies Financial Group decreased their price target on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a research report on Tuesday, January 21st. JPMorgan Chase & Co. decreased their target price on Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Bernstein Bank reduced their price target on Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Citigroup upgraded Hershey from a "sell" rating to a "neutral" rating and decreased their price objective for the company from $159.00 to $154.00 in a research note on Friday, February 7th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Hershey from $184.00 to $148.00 and set a "hold" rating on the stock in a research note on Thursday, January 23rd. Five equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $163.75.

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.