Geode Capital Management LLC Has $642.14 Million Stake in The Hershey Company (NYSE:HSY)

Geode Capital Management LLC boosted its stake in The Hershey Company (NYSE:HSY - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,801,145 shares of the company's stock after acquiring an additional 47,394 shares during the quarter. Geode Capital Management LLC owned about 1.88% of Hershey worth $642,139,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HSY. Crowley Wealth Management Inc. acquired a new stake in shares of Hershey during the fourth quarter valued at about $28,000. Grove Bank & Trust increased its stake in shares of Hershey by 248.0% in the fourth quarter. Grove Bank & Trust now owns 174 shares of the company's stock worth $29,000 after buying an additional 124 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in Hershey in the fourth quarter valued at $29,000. Lee Danner & Bass Inc. acquired a new stake in Hershey in the fourth quarter valued at $34,000. Finally, ST Germain D J Co. Inc. raised its stake in shares of Hershey by 61.7% in the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other 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 on Monday, February 3rd. The shares were sold at an average price of $148.00, for a total value 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 link. 0.34% of the stock is owned by corporate insiders.

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Hershey Stock Up 3.3 %

Shares of NYSE HSY traded up $5.19 during mid-day trading on Wednesday, reaching $164.29. The company had a trading volume of 1,830,541 shares, compared to its average volume of 1,800,423. The stock has a fifty day moving average of $166.65 and a two-hundred day moving average of $171.67. The Hershey Company has a 12-month low of $140.13 and a 12-month high of $211.92. The company has a market capitalization of $33.25 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 5.90 and a beta of 0.28. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.64 and a current ratio of 0.96.

Hershey (NYSE:HSY - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $2.69 EPS for the quarter, beating the consensus estimate 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, equities research analysts expect that The Hershey Company will post 6.12 EPS for the current year.

Hershey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were paid a dividend of $1.37 per share. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Royal Bank of Canada reiterated a "sector perform" rating and issued a $178.00 price target on shares of Hershey in a research note on Monday, February 3rd. UBS Group lowered their price target on Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Citigroup raised Hershey from a "sell" rating to a "neutral" rating and dropped their price target for the company from $159.00 to $154.00 in a research report on Friday, February 7th. Jefferies Financial Group decreased their price objective on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating for the company in a report on Tuesday, January 21st. Finally, Piper Sandler cut Hershey from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $153.00 to $120.00 in a research report on Friday, January 31st. Five equities research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $162.50.

Hershey 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.