Mawer Investment Management Ltd. Cuts Stake in The Hershey Company (NYSE:HSY)

Mawer Investment Management Ltd. lowered its holdings in The Hershey Company (NYSE:HSY - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 353,845 shares of the company's stock after selling 11,725 shares during the period. Mawer Investment Management Ltd. owned approximately 0.17% of Hershey worth $59,924,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. UNIVEST FINANCIAL Corp lifted its position in Hershey by 1.5% during the 4th quarter. UNIVEST FINANCIAL Corp now owns 4,500 shares of the company's stock valued at $762,000 after acquiring an additional 68 shares during the period. OLD Point Trust & Financial Services N A increased its stake in shares of Hershey by 2.2% during the fourth quarter. OLD Point Trust & Financial Services N A now owns 3,240 shares of the company's stock valued at $549,000 after purchasing an additional 70 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of Hershey by 1.3% during the fourth quarter. Meiji Yasuda Asset Management Co Ltd. now owns 5,546 shares of the company's stock valued at $939,000 after purchasing an additional 70 shares during the last quarter. Private Trust Co. NA boosted its position in shares of Hershey by 1.5% in the 4th quarter. Private Trust Co. NA now owns 5,438 shares of the company's stock worth $921,000 after purchasing an additional 81 shares in the last quarter. Finally, Waterfront Wealth Inc. grew its stake in shares of Hershey by 1.4% in the 4th quarter. Waterfront Wealth Inc. now owns 5,744 shares of the company's stock worth $973,000 after buying an additional 82 shares during the last quarter. Institutional investors own 57.96% of the company's stock.

Remove Ads

Analysts Set New Price Targets

Several research firms have commented on HSY. TD Cowen dropped their target price on Hershey from $190.00 to $172.00 and set a "hold" rating on the stock in a report on Wednesday, January 8th. Barclays cut their price objective on shares of Hershey from $170.00 to $160.00 and set an "equal weight" rating on the stock in a research report on Monday, February 10th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $178.00 target price on shares of Hershey in a research note on Monday, February 3rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of Hershey from $171.00 to $151.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Five investment analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company. Based on data from MarketBeat, Hershey currently has an average rating of "Hold" and a consensus target price of $162.50.

Hershey Stock Performance

HSY traded up $0.85 during trading on Thursday, hitting $164.80. The company's stock had a trading volume of 1,367,541 shares, compared to its average volume of 1,782,768. The Hershey Company has a one year low of $140.13 and a one year high of $211.92. The business's 50 day simple moving average is $164.97 and its 200-day simple moving average is $173.19. The company has a quick ratio of 0.64, a current ratio of 0.96 and a debt-to-equity ratio of 0.68. The firm has a market cap of $33.36 billion, a PE ratio of 15.12, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last announced its 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%. As a group, sell-side analysts predict that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's dividend payout ratio is 50.28%.

Insiders Place Their Bets

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 shares were 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 $396,936. This represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.

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.