Franklin Resources Inc. Acquires 42,499 Shares of The Hershey Company (NYSE:HSY)

Franklin Resources Inc. increased its stake in The Hershey Company (NYSE:HSY - Free Report) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 260,554 shares of the company's stock after purchasing an additional 42,499 shares during the period. Franklin Resources Inc. owned 0.13% of Hershey worth $44,125,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Public Sector Pension Investment Board raised its holdings in Hershey by 18.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,470 shares of the company's stock worth $1,241,000 after purchasing an additional 1,000 shares during the last quarter. Edgestream Partners L.P. bought a new stake in shares of Hershey during the third quarter worth approximately $385,000. HighTower Advisors LLC lifted its holdings in Hershey by 61.9% in the third quarter. HighTower Advisors LLC now owns 120,159 shares of the company's stock valued at $23,052,000 after buying an additional 45,936 shares during the period. Investment Management Corp of Ontario lifted its holdings in Hershey by 48.0% in the third quarter. Investment Management Corp of Ontario now owns 4,931 shares of the company's stock valued at $946,000 after buying an additional 1,600 shares during the period. Finally, Integrated Wealth Concepts LLC boosted its stake in Hershey by 49.1% in the third quarter. Integrated Wealth Concepts LLC now owns 11,073 shares of the company's stock valued at $2,124,000 after acquiring an additional 3,647 shares during the last quarter. Institutional investors and hedge funds own 57.96% of the company's stock.

Remove Ads

Hershey Price Performance

Shares of HSY stock traded down $1.77 during trading on Thursday, hitting $162.39. The company had a trading volume of 362,025 shares, compared to its average volume of 1,794,805. The stock's 50-day moving average price is $166.65 and its 200 day moving average price is $171.67. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96. The firm has a market capitalization of $32.87 billion, a P/E ratio of 14.93, a price-to-earnings-growth ratio of 5.90 and a beta of 0.28.

Hershey (NYSE:HSY - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, topping 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%. Equities analysts expect that The Hershey Company will post 6.12 EPS 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 dividend of $1.37 per share. This represents a $5.48 annualized dividend and a yield of 3.37%. The ex-dividend date was Friday, February 14th. Hershey's payout ratio is presently 50.28%.

Insider Transactions at Hershey

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

Wall Street Analyst Weigh In

HSY has been the topic of several recent research reports. Stifel Nicolaus reduced 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. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and decreased their target price for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Wells Fargo & Company increased their price target on shares of Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a research report on Friday, March 14th. JPMorgan Chase & Co. decreased their price objective on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Morgan Stanley started coverage on Hershey in a report on Monday, March 24th. They set an "equal weight" rating and a $183.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $162.50.

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.