Resona Asset Management Co. Ltd. purchased a new position in shares of The Hershey Company (NYSE:HSY - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 55,689 shares of the company's stock, valued at approximately $9,446,000.
Other hedge funds have also recently modified their holdings of the company. Crowley Wealth Management Inc. purchased a new stake in shares of Hershey in the fourth quarter valued at approximately $28,000. Grove Bank & Trust raised its stake in shares of Hershey by 248.0% during the 4th 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 purchased a new stake in shares of Hershey in the 4th quarter worth about $29,000. Lee Danner & Bass Inc. acquired a new stake in Hershey in the 4th quarter valued at about $34,000. Finally, ST Germain D J Co. Inc. increased its holdings in Hershey by 61.7% during the 4th quarter. ST Germain D J Co. Inc. now owns 262 shares of the company's stock valued at $44,000 after acquiring an additional 100 shares in the last quarter. 57.96% of the stock is owned by institutional investors and hedge funds.
Hershey Stock Up 0.5 %
NYSE HSY traded up $0.89 during trading hours on Friday, hitting $164.98. The company had a trading volume of 288,461 shares, compared to its average volume of 1,794,962. The Hershey Company has a fifty-two week low of $140.13 and a fifty-two week high of $211.92. The firm's 50 day moving average is $166.98 and its 200 day moving average is $171.47. 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 company has a market capitalization of $33.39 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 5.90 and a beta of 0.28.
Hershey (NYSE:HSY - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.40 by $0.29. Hershey had a return on equity of 44.77% and a net margin of 19.83%. Sell-side analysts anticipate that The Hershey Company will post 6.12 earnings per share for the current fiscal year.
Hershey Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the company. DA Davidson cut their price target on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a report on Monday, February 10th. Mizuho reduced their target price on shares of Hershey from $170.00 to $140.00 in a report on Wednesday, February 5th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Hershey from $184.00 to $148.00 and set a "hold" rating for the company in a research report on Thursday, January 23rd. Jefferies Financial Group decreased their target price on shares of Hershey from $150.00 to $134.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price target on Hershey from $125.00 to $132.00 and gave the company an "underweight" rating in a report on Friday, March 14th. Five research analysts have rated the stock with a sell rating and sixteen have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $162.50.
Read Our Latest Stock Report on Hershey
Insider Buying and Selling
In related news, CAO Jennifer Mccalman sold 278 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is owned by company insiders.
Hershey Company Profile
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Free Report)
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.
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