Distillate Capital Partners LLC Makes New $17.70 Million Investment in The Hershey Company (NYSE:HSY)

Distillate Capital Partners LLC acquired a new position in The Hershey Company (NYSE:HSY - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 104,508 shares of the company's stock, valued at approximately $17,698,000. Distillate Capital Partners LLC owned 0.05% of Hershey at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of HSY. Charles Schwab Investment Management Inc. boosted its stake in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock worth $785,003,000 after buying an additional 247,675 shares in the last quarter. Geode Capital Management LLC increased its stake in Hershey by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 3,801,145 shares of the company's stock valued at $642,139,000 after acquiring an additional 47,394 shares during the period. Invesco Ltd. raised its position in Hershey by 7.3% in 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 in the last quarter. Principal Financial Group Inc. boosted its holdings in Hershey by 66.7% during 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 in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Hershey by 15.1% in the 4th quarter. American Century Companies Inc. now owns 711,009 shares of the company's stock valued at $120,409,000 after purchasing an additional 93,009 shares during the period. Institutional investors and hedge funds own 57.96% of the company's stock.

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Hershey Trading Down 1.3 %

Shares of Hershey stock traded down $2.15 during trading on Tuesday, hitting $168.16. 1,252,237 shares of the company were exchanged, compared to its average volume of 1,796,963. 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 firm has a market capitalization of $34.04 billion, a P/E ratio of 15.43, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28. The firm's fifty day moving average price is $168.19 and its 200 day moving average price is $170.98. The Hershey Company has a 1-year low of $140.13 and a 1-year 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 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, sell-side analysts expect that The Hershey Company will post 6.12 earnings per share for the current fiscal year.

Hershey Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Friday, February 14th. This represents a $5.48 dividend on an annualized basis and a yield of 3.26%. Hershey's payout ratio is 50.28%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the business'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 value of $41,144.00. Following the completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at approximately $396,936. The trade was a 9.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citigroup decreased their price target on Hershey from $173.00 to $165.00 and set a "neutral" rating on the stock in a research note on Tuesday. Bernstein Bank reduced their price target on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. Stifel Nicolaus decreased their price target on Hershey from $170.00 to $160.00 and set a "hold" rating on the stock in a research report on Friday, February 7th. TD Cowen dropped their price target on Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a report on Wednesday, January 8th. Finally, Barclays reduced their price objective on Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a research note on Monday, February 10th. Five analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $163.05.

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.