iA Global Asset Management Inc. Raises Position in The Hershey Company (NYSE:HSY)

iA Global Asset Management Inc. raised its stake in The Hershey Company (NYSE:HSY - Free Report) by 325.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,808 shares of the company's stock after acquiring an additional 5,972 shares during the quarter. iA Global Asset Management Inc.'s holdings in Hershey were worth $1,322,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HSY. Pathstone Holdings LLC grew its position in Hershey by 15.8% during the third quarter. Pathstone Holdings LLC now owns 24,222 shares of the company's stock valued at $4,645,000 after buying an additional 3,311 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hershey during the 3rd quarter worth about $1,337,000. Prospera Private Wealth LLC purchased a new position in shares of Hershey in the 3rd quarter valued at about $60,000. Commerce Bank raised its holdings in Hershey by 31.9% in the 3rd quarter. Commerce Bank now owns 9,436 shares of the company's stock worth $1,810,000 after purchasing an additional 2,281 shares during the period. Finally, Jennison Associates LLC boosted its position in Hershey by 1.4% during the third quarter. Jennison Associates LLC now owns 168,820 shares of the company's stock worth $32,376,000 after purchasing an additional 2,404 shares in the last quarter. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Trading Up 1.9 %

Shares of NYSE HSY traded up $3.21 during mid-day trading on Wednesday, reaching $168.44. 1,122,807 shares of the company's stock were exchanged, compared to its average volume of 1,748,316. The company's 50-day moving average is $163.02 and its 200-day moving average is $174.34. 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 $34.09 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 5.90 and a beta of 0.32. The Hershey Company has a 52-week low of $140.13 and a 52-week high of $211.92.

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Hershey (NYSE:HSY - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, topping 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%. Analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio (DPR) is 50.28%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on HSY. Bank of America restated a "neutral" rating and issued a $180.00 price objective on shares of Hershey in a research report on Thursday, December 12th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a report on Thursday, January 23rd. Mizuho decreased their price objective on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Jefferies Financial Group lowered their price target on Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group reduced their target price on shares of Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Five equities research analysts have rated the stock with a sell rating and seventeen have issued a hold rating to the stock. Based on data from MarketBeat, Hershey currently has a consensus rating of "Hold" and a consensus target price of $164.67.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of the stock in a transaction dated Monday, February 3rd. The stock was 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 of the company's stock, valued at approximately $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 accessible through this hyperlink. Company insiders own 0.34% of the company's stock.

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.