Skba Capital Management LLC Has $6.09 Million Position in The Hershey Company (NYSE:HSY)

Skba Capital Management LLC increased its stake in The Hershey Company (NYSE:HSY - Free Report) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,955 shares of the company's stock after acquiring an additional 3,300 shares during the quarter. Skba Capital Management LLC's holdings in Hershey were worth $6,089,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Raymond James Financial Inc. purchased a new stake in shares of Hershey in the 4th quarter valued at approximately $80,978,000. Principal Financial Group Inc. lifted its holdings in shares of Hershey by 66.7% in the third quarter. Principal Financial Group Inc. now owns 972,836 shares of the company's stock valued at $186,571,000 after purchasing an additional 389,404 shares in the last quarter. State Street Corp boosted its position in shares of Hershey by 5.8% in 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. raised its position in Hershey by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,635,390 shares of the company's stock valued at $785,003,000 after buying an additional 247,675 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new position in Hershey during the fourth quarter valued at $21,439,000. Hedge funds and other institutional investors own 57.96% of the company's stock.

Hershey Stock Up 1.3 %

Hershey stock traded up $2.16 during mid-day trading on Thursday, reaching $166.11. The company's stock had a trading volume of 1,893,408 shares, compared to its average volume of 1,785,036. 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 Hershey Company has a 12 month low of $140.13 and a 12 month 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 market capitalization of $33.62 billion, a price-to-earnings ratio of 15.21, a price-to-earnings-growth ratio of 5.90 and a beta of 0.32.

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

Hershey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Monday, February 17th were given a $1.37 dividend. This represents a $5.48 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date was Friday, February 14th. Hershey's dividend payout ratio (DPR) is presently 50.28%.

Insider Transactions at Hershey

In related news, CAO Jennifer Mccalman sold 278 shares of Hershey 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 completion of the transaction, the chief accounting officer now owns 2,682 shares in the company, valued at approximately $396,936. This trade represents a 9.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HSY has been the subject of a number of research analyst reports. UBS Group reduced their price target 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. Piper Sandler lowered Hershey from a "neutral" rating to an "underweight" rating and cut their target price for the company from $153.00 to $120.00 in a report on Friday, January 31st. Citigroup raised shares of 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. DA Davidson cut their price objective on Hershey from $164.00 to $149.00 and set a "neutral" rating for the company in a research report on Monday, February 10th. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $178.00 price target on shares of Hershey in a report on Monday, February 3rd. Five research analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. According to data from MarketBeat.com, Hershey has an average rating of "Hold" and an average price target 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.