Royal London Asset Management Ltd. Boosts Stock Position in The Hershey Company (NYSE:HSY)

Royal London Asset Management Ltd. increased its holdings in The Hershey Company (NYSE:HSY - Free Report) by 3.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,172 shares of the company's stock after acquiring an additional 3,434 shares during the quarter. Royal London Asset Management Ltd.'s holdings in Hershey were worth $16,456,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Raymond James Financial Inc. purchased a new stake in shares of Hershey in the 4th quarter worth approximately $80,978,000. Principal Financial Group Inc. lifted its holdings in Hershey by 66.7% during the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock worth $186,571,000 after buying an additional 389,404 shares during the period. State Street Corp lifted its holdings in Hershey by 5.8% during the third quarter. State Street Corp now owns 7,029,551 shares of the company's stock worth $1,348,127,000 after buying an additional 386,670 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Hershey by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after acquiring an additional 247,675 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Hershey by 31.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 586,565 shares of the company's stock valued at $112,491,000 after acquiring an additional 139,831 shares during the period. 57.96% of the stock is currently owned by institutional investors.

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Hershey Stock Performance

Shares of NYSE:HSY traded up $3.21 during midday trading on Wednesday, reaching $168.44. The company's stock had a trading volume of 1,122,807 shares, compared to its average volume of 2,038,111. 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 stock has a fifty day moving average of $163.02 and a 200 day moving average of $174.34. The Hershey Company has a twelve month low of $140.13 and a twelve month high of $211.92. The firm has a market capitalization of $34.09 billion, a PE ratio of 15.45, a P/E/G ratio of 5.90 and a beta of 0.32.

Hershey (NYSE:HSY - Get Free Report) last announced its quarterly 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 return on equity of 44.77% and a net margin of 19.83%. On average, equities analysts expect that The Hershey Company will post 6.12 EPS for the current fiscal year.

Hershey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Monday, February 17th were issued a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, February 14th. Hershey's payout ratio is presently 50.28%.

Insiders Place Their Bets

In related news, CAO Jennifer Mccalman sold 278 shares of the business's 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 completion of the transaction, the chief accounting officer now directly owns 2,682 shares in the company, valued at $396,936. The trade was a 9.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.34% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on HSY. UBS Group decreased their price objective on Hershey from $189.00 to $163.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Citigroup upgraded shares of Hershey from a "sell" rating to a "neutral" rating and lowered their price target for the company from $159.00 to $154.00 in a report on Friday, February 7th. Bernstein Bank cut their price objective on shares of Hershey from $177.00 to $146.00 and set a "market perform" rating on the stock in a research report on Wednesday, February 5th. TD Cowen decreased their target price on shares of Hershey from $190.00 to $172.00 and set a "hold" rating for the company in a research report on Wednesday, January 8th. Finally, Piper Sandler lowered shares of Hershey from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $153.00 to $120.00 in a report on Friday, January 31st. Five research analysts have rated the stock with a sell rating and seventeen have given a hold rating to the company. According to data from MarketBeat.com, Hershey currently has an average rating of "Hold" and an average price target of $164.67.

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.